Crypto exchange OKX is adding markets tied to OpenAI and Anthropic in Europe, joining other crypto exchanges in offering traders a way to speculate on private companies they can’t easily buy shares in.
The exchange said Thursday it had launched pre-IPO perpetual futures for the two AI companies.
Traders don’t get ownership stake in either company by participating in these products; they instead bet on how their valuations will move with the ability to go long or short with up to 10 times leverage.
The products tap into growing interest in large private technology companies that have stayed off public markets. For most individual investors, getting direct exposure to companies such as OpenAI and Anthropic before an IPO is difficult, with private shares typically changing hands through funding rounds or secondary markets that can restrict who participates.
Pre-IPO perpetuals offer a different route, but they aren’t a substitute for the shares themselves.
OKX isn’t breaking new ground with the idea. Hyperliquid has markets tied to OpenAI and Anthropic through HIP-3, while Binance offers pre-IPO perpetual contracts for both companies.
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