According to Woofun AI, U.S. artificial intelligence company Anthropic filed a Form S-1 registration statement with the U.S. Securities and Exchange Commission on the 26th, officially initiating its initial public offering (IPO) process, with plans to list on the Nasdaq Global Select Market under the ticker symbol "ANT" during the week of November 16.
This IPO has drawn significant market attention, with its valuation range potentially reaching $1.5 trillion to $2 trillion, comparable to SpaceX (SPCX.US), which was valued at approximately $1.8 trillion in June. According to data compiled by Woofun AI, if the fundraising amount exceeds $100 billion, it will surpass SpaceX’s previous $85.7 billion raised and become the largest IPO in history. Financially, Anthropic’s revenue surged 1,300% to $16.3 billion between January and June, achieving an adjusted operating profit of $1.6 billion, successfully reversing a $1.8 billion loss recorded in the same period last year;
However, on an annual basis, its loss expanded to nearly $81 billion, compared to $13 billion in the same period last year.
In the tokenized stocks sector, market reactions have been mixed. When SpaceX (SPCX.US) went public, Backpack issued tokens on the Solana blockchain representing the underlying physical shares, while XStocks reduced token allocations to users due to insufficient stock allocations.
It is noteworthy that Anthropic explicitly does not recognize tokenization models based on shares held by special-purpose vehicles (SPVs), deeming such transfers invalid, thereby directly contradicting the current practices of platforms like Pristox. Currently, cryptocurrency exchanges Backpack and XStocks have not confirmed that they will offer token trading services on the first day of listing.
However, the HyperLiquid platform launched an upfront futures contract on March 26, denominated in USD and with no expiration date, underpinned by one share of Anthropic Class A common stock, filling the gap in spot tokenization.
Anthropic's rejection of the SPV model marks a redefinition of the compliance boundaries for asset tokenization by leading AI companies. This stance not only cuts off arbitrage pathways for certain decentralized exchanges but also forces the market to turn to derivative instruments for risk hedging. As the November listing approaches, the integration between traditional finance and the crypto market may undergo structural adjustments due to this regulatory divergence.