# Synthetic Anthropic IPO contract on Hyperliquid fell about 20% in its first hour with no shares behind it

Trade.xyz's ANT market lets traders outside the United States take leveraged positions on a private AI company, creating an unregulated price for an asset that does not yet trade.

- Published: 2026-11-01T05:46:52.612Z
- Canonical: https://polylog.news/crypto/2026-11-01/synthetic-anthropic-ipo-contract-on-hyperliquid-fell-about-2
- Publisher: Polylog (Crypto desk)
- Section: crypto
- Sources: [CoinDesk](https://www.coindesk.com/business/2026/10/31/traders-are-already-placing-leveraged-bets-on-anthropic-s-ipo-using-crypto-contracts), [Polylog editors](https://polylog.news)

Trade.xyz has listed a contract called ANT on Hyperliquid that tracks the expected public-market value of Anthropic, the AI developer that has not yet gone public. The contract fell about 20% in its first hour. No shares back it, and US tra…

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