Traders are taking leveraged positions tied to a potential Anthropic initial public offering through a new crypto contract, despite the fact that the product does not represent ownership of company shares.
ANT contract drops after launch
Trade.xyz’s new ANT contract fell by about 20% during its first hour of trading on Hyperliquid, according to CoinDesk. The move highlights the volatility that can accompany crypto-based instruments linked to anticipated corporate events.
The contract is designed to give traders exposure to price expectations around Anthropic’s IPO. However, there are no Anthropic shares backing the product. In practical terms, buyers are trading a crypto contract connected to the event rather than purchasing equity in the artificial-intelligence company.
Access is restricted for U.S. traders
U.S. traders are unable to access the ANT contract. The restriction limits participation in the product to traders outside the United States, although the available source material does not specify which other jurisdictions can use it.
Leverage can increase the size of both gains and losses relative to the amount posted by a trader. The early 20% decline therefore provides an indication of how quickly positions tied to such contracts can move, but it does not represent a change in the value of Anthropic shares, since the contract is not backed by shares.
Moneyiar market picture
Moneyiar data at 12:29 p.m. on Nov. 1, 2026, shows Hyperliquid’s HYPE token at $88.1199690542, down 0.14% over 24 hours but up 15.51% over seven days. OriginTrail’s TRAC was $0.3543881898, up 3.82% in 24 hours and down 3.11% over seven days.
Ontology’s ONT stood at $0.047069969, falling 0.97% over 24 hours and 5.24% over seven days. ShareX’s SHARE was $2.7510206604, up 0.08% over 24 hours and 1.73% over seven days. These figures describe the listed crypto assets and do not establish a value for Anthropic or its IPO-related contract.
