# Hyperliquid’s Anthropic Contracts Imply a $1.8 Trillion Valuation By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/45693 Published: 2026-11-01T04:44:27.000Z Updated: 2026-11-01T04:44:27.000Z Section: Investing > One contract assigns $1 billion in implied valuation per price point, while another tracks Anthropic’s Class A share price without granting ownership rights. Two perpetual contracts tied to Anthropic were trading on Hyperliquid as of midnight ET Nov. 1, with one implying a valuation of about $1.8 trillion for the artificial intelligence company ahead of a public listing. The ANTH contract was quoted at 1,806. Each price point represents $1 billion in implied company valuation, putting the contract’s indicated figure at $1.806 trillion. Its 24-hour trading volume was about $17.69 million. A separate contract, ANT, tracks the price of one Anthropic Class A common share and settles in USDC. It was marked at $113, with about $7.17 million in trading volume over 24 hours. ANT launched Oct. 31 at $138 and had fallen to about $110 by 11:50 a.m. ET that day, a drop of about 20%, before the Nov. 1 mark. Neither contract represents actual Anthropic stock, and holders receive no ownership rights in the company. ANTH’s implied value is close to [an earlier forecast by an early Anthropic investor](), who projected an IPO valuation around $1.8 trillion and a market value of $2.3 trillion to $2.4 trillion once shares began trading. Those figures are forecasts, not an announced IPO price or an official company valuation. The ANTH price is a derivatives-market signal and does not establish the price of any future share offering. Anthropic has warned that share transfers without board approval are invalid. It also warned that third-party offers to sell Anthropic shares to the public through forward contracts, tokenized securities or other structures may be worthless under the company’s transfer restrictions. The warning does not specify whether it applies to these perpetual contracts. Nov. 20 is a possible listing date, but Anthropic has not confirmed it. ANT’s terms allow a 60-day grace period through Jan. 19, 2027. If Anthropic shares have not begun trading by then, the contract will settle in cash at its average price since launch. After a listing, ANT is set to shift into a conventional share-tracking perpetual contract, usually during the first regular trading session. ## Links in this article - [an earlier forecast by an early Anthropic investor](https://www.tokenpost.com/news/business/32365)