- Binance listed ANTHROPICUSDT pre-IPO perpetual futures with 20x leverage and 24/7 trading access.
- Contract uses 1 billion estimated share count with USDT settlement and a five USDT minimum notional.
- Pre-IPO mark price capped at plus or minus 1% per second to limit volatility before official listing.
Binance has listed a perpetual futures contract tied to Anthropic, the AI company behind Claude, allowing traders to take positions on the company’s valuation before it goes public. The ANTHROPICUSDT USDⓈ-M Futures Pre-IPO Perpetual Contract went live on June 2 at 04:30 UTC.
The listing makes Binance one of the first major exchanges to offer direct price exposure to Anthropic ahead of a formal IPO, joining a growing trend of pre-IPO perpetual products that let traders speculate on private company valuations in real time.
What the Contract Offers
The specifications for traders:
- Settlement asset: USDT
- Maximum leverage: 20x
- Trading hours: 24/7
- Minimum trade amount: 0.01 ANTHROPIC
- Minimum notional value: 5 USDT
- Funding fee settlement: Every eight hours
- Estimated share count: 1 billion shares
- Pre-IPO funding rate: Fixed at 0.005% per funding interval
- Post-IPO funding rate: Standard +2.00% / -2.00% mechanism
Multi-Assets Mode is supported, and the contract will be available for Futures Copy Trading within 24 hours of launch.
How Pricing Works Before the IPO
During the pre-IPO period, the market price is calculated as the average of the last 10 seconds of trade prices on Binance RIE, with updates every second. A price cap of plus or minus 1% per second interval is imposed to limit extreme volatility during the period before an official IPO price is set.
Once Anthropic officially lists and a stable price index can be derived from third-party data providers, the contract transitions to a standard TradFi perpetual with a conventional mark price methodology. The transition occurs on the day of the official IPO listing, and Binance will issue a Pre-IPO Transition Notice at that time.
If the IPO does not proceed, Binance will issue an IPO Failure Notice and remove the contract accordingly.
The move reflects the broader trend of crypto exchanges moving into pre-IPO derivative products, a space that traditionally required accredited investor status or private market access.
Related: Hyperliquid Hits All-Time High as SpaceX Pre-IPO Trading Gains Heat
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
