Traders are already placing leveraged bets on Anthropic’s IPO tapping crypto contracts
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
★ Tier-1 Source
Anthropic’s IPO is still weeks away, but traders are already betting on it with borrowed money.
Key facts
- The Financial Times said investors expect a $1.5 trillion to $1.75 trillion valuation, and Fox Business’s Liz Claman said pricing remains on track for Nov. 19-20
- ET before dropping to around $110 by about 11:50 a.m. on $8.7 million of volume and $2.2 million of open interest
- For SpaceX, the contract sat at $172.84 the day before trading began, the IPO priced at $135 and the stock opened at $150
- Entropy’s ANTH is priced by valuation, with each $1 of price representing $1 billion of company value
Summary
Two Anthropic contracts now trade on Hyperliquid: Entropy’s ANTH, which tracks company valuation, and trade.xyz’s ANT, which tracks the price of one share. ANT fell about 20% in its first hour, with leverage of up to 10-times and about $1.7 million in open positions. Neither contract is backed by Anthropic shares, and holders have no claim on the company. Two contracts on Hyperliquid, a decentralized crypto exchange whose trades settle on a public blockchain, make that possible: Entropy’s ANTH and trade.xyz’s ANT.