Trade.xyz lists leveraged Anthropic IPO contracts on Hyperliquid

Traders are already placing leveraged bets on Anthropic's upcoming IPO through Trade.xyz's new ANT contract on Hyperliquid, ahead of the AI lab's planned public listing in November. The contract fell about 20% in its first hour of trading.

• The contract has no underlying shares behind it, making it a price-discovery instrument rather than a claim on equity.
• U.S. traders are locked out of the offering.
• The listing adds to a wave of pre-IPO products for private AI companies, joining new exchange MNX, which is launching pre-IPO futures for firms including OpenAI, Anthropic and DeepSeek, alongside similar offerings from OKX and Bitget.