ThinkMarkets Opens Anthropic and OpenAI Pre-IPO Valuation CFDs

ThinkMarkets has launched cash-settled derivatives tied to the market capitalization Anthropic and OpenAI are expected to have when their first official public trading sessions close, giving traders a way to take positions before either company lists.

The ANTH_PRE and OAI_PRE markets went live Friday, Oct. 23, on ThinkTrader and MetaTrader 5. Prices are quoted in U.S. dollars in billions, with each point representing $1 billion in expected market capitalization.

Clients can take long or short positions and close them while prices are quoted. A position still open when a company lists settles in cash using its market capitalization at the close of its first official trading day. The contracts provide no shares or IPO allocation.

The quoted figure is an estimate of expected market capitalization, rather than a share price or the company’s last private funding valuation. Trading runs around the clock except for a scheduled one-hour Saturday maintenance break. Availability depends on a client’s country of residence and the ThinkMarkets entity servicing the account.

Anthropic’s May 28 Series H raised $65 billion at a $965 billion post-money valuation. OpenAI’s March 31 financing closed with $122 billion in committed capital at an $852 billion post-money valuation. Those financing figures do not establish either company’s eventual public-market value.

Anthropic filed a public Form S-1 registration statement with the Securities and Exchange Commission on Oct. 26, applying to list on the Nasdaq Global Select Market under the symbol ANT. The filing leaves the offering price and share count blank. OpenAI CEO Sam Altman said in a September interview that OpenAI would not go public in 2026.

The ThinkMarkets CFDs are a separate product from NEAR Protocol’s Anthropic-linked perpetual contract, which TokenPost covered Oct. 27.