Traders have begun placing leveraged bets on Anthropic’s anticipated IPO through a novel crypto contract on Hyperliquid. The ANT contract, launched by Trade.xyz, dropped approximately 20% within its first hour of trading, illustrating volatile interest.
Notably, the contract isn’t backed by actual shares, creating a purely speculative market. U.S. traders are currently barred from participating due to regulatory restrictions, limiting access to international users.
This development highlights how decentralized finance platforms are innovating to provide new avenues for exposure to traditional financial events, like IPOs, without requiring ownership of underlying assets.