Anthropic pre-IPO perpetual contracts on Trade.xyz break above $103, a premium of about 33% over the upper limit of the IPO price range.

November 11 — On Trade.xyz, the pre-IPO perpetual contract for Anthropic broke through $103, currently quoted at $103.72, up over 6% in 24 hours. This represents a premium of approximately 33% over the upper limit of the company's latest announced IPO offering range of $70 to $78, corresponding to an implied valuation of $1.36 trillion and a fully diluted valuation of $1.87 trillion.

The contract is quoted in USD and references one share of Anthropic, PBC's Class A common stock (Nasdaq code: ANT). It currently belongs to the pre-listing market and reflects the market's judgment of its expected share price. Trade.xyz stated that after Anthropic officially lists, the contract is expected to convert into a standard XYZ perpetual contract.