PrimeXBT Broadens Crypto Futures Beyond Coins

Perpetual Futures Branch Out from Crypto to Publicly Traded and Pre-IPO Companies

Perpetual futures, a trading instrument long synonymous with the cryptocurrency market, are now extending their reach into the realm of publicly listed companies and businesses on the cusp of going public. This evolution marks a significant shift, allowing traders to gain exposure to traditional assets through a familiar digital asset trading model.

According to figures cited by Forbes, the cryptocurrency perpetuals market commands an impressive average monthly trading volume of approximately $4.7 trillion. Now, platforms are leveraging this established model to offer derivatives on established corporations and pre-IPO ventures.

PrimeXBT, a global multi-asset broker and crypto asset service provider, is at the forefront of this expansion. Following the recent introduction of its Tokenized Stock Crypto Futures, the company is preparing to further broaden its offerings with Pre-IPO Trading. The initial focus for this new category will be on Anthropic, the artificial intelligence company behind the Claude chatbot.

The Growing Trend of Non-Crypto Perpetual Contracts

The momentum behind perpetual futures moving beyond cryptocurrencies gained traction earlier this year. Prominent exchanges began listing contracts tied to private companies such as SpaceX and OpenAI. Subsequently, similar instruments linked to Anthropic have appeared on other trading platforms.

These contracts adapt the established structure of crypto futures to a different asset class. Instead of trading the underlying shares directly, traders can establish long or short positions through USDT-quoted derivatives. For publicly traded companies, the pricing of these derivatives is influenced by the movements of their underlying stock. For private companies nearing an initial public offering (IPO), the prices reflect market sentiment and expectations regarding their future valuations and upcoming listings.

The recent IPO of SpaceX in June highlighted the significant market interest surrounding major public debuts. The company initially priced its shares at $135, opening at $150 and concluding its first trading day at $160.95, a gain of approximately 19% above the IPO price. This listing also underscored how pre-IPO expectations can diverge from the actual trading prices once shares become publicly available.

PrimeXBT’s Diversification into Tokenized Stock Futures

PrimeXBT began its foray into company-linked crypto futures in October, launching seven Tokenized Stock Crypto Futures contracts. These instruments provide exposure to SpaceX, NVIDIA, Tesla, Circle, Apple, Alphabet, and Robinhood. These USDT-quoted derivatives enable traders to speculate on share price fluctuations without the need to own the underlying shares.

Operating 24/7, these contracts expand PrimeXBT’s crypto futures offering beyond digital currencies, granting traders continuous access to major companies through a crypto-native trading framework. These additions complement the broker’s existing portfolio of over 350 markets on its PXTrader 2.0 platform, which includes crypto futures and CFDs across forex, commodities, indices, shares, and cryptocurrencies.

The PXTrader 2.0 platform supports accounts denominated in USD, USDT, USDC, BTC, and ETH, allowing clients to access these diverse markets from a single interface. Features such as TradingView-powered charts, price alerts, chart trading capabilities, and mobile access provide traders with comprehensive tools for market monitoring and position management. PrimeXBT also offers round-the-clock live chat support.

Introducing Pre-IPO Trading with Anthropic

PrimeXBT is now preparing to launch Pre-IPO Trading as a new category within its crypto futures suite, commencing with ANTHROPIC/USDT. This USDT-margined perpetual contract will trade continuously, enabling traders to take long or short positions based on Anthropic’s market-implied valuation prior to its public listing, without directly holding company shares.

Anthropic submitted its public IPO registration with the U.S. Securities and Exchange Commission (SEC) on October 26th, proposing a Nasdaq listing under the ticker ANT. The company has since updated its filing with an indicative offering price range of $70–$78 per share, with public trading anticipated to commence on November 19th.

In contrast to Tokenized Stock Crypto Futures linked to already public companies, the ANTHROPIC/USDT contract will initially lack an official share price to track. Its price will be determined by a live order book, with each contract representing one notional share. This notional value is used for contract pricing and does not reflect Anthropic’s official share count or valuation.

Following Anthropic’s public debut, the contract is designed to transition into a standard perpetual crypto futures contract linked to the listed stock. Should the IPO be canceled, the contract may be delisted, with open positions settled at a reference price after advance notification. The instrument will not convert into actual shares.

The expansion of crypto futures beyond cryptocurrencies is creating novel avenues for traders to engage with significant market developments, from the performance of established global corporations to highly anticipated public offerings.

With Tokenized Stock Crypto Futures already available and Pre-IPO Trading slated for launch, PrimeXBT is consolidating these opportunities on its PXTrader 2.0 platform. From tracking Bitcoin and Ethereum price movements to speculating on Tesla earnings and the upcoming Anthropic IPO, traders can follow and trade some of the most significant market narratives through a unified trading environment.

*This instrument does not confer ownership of or any rights in Anthropic shares and is not issued, sponsored, or endorsed by Anthropic. Prices are based on an assumed 1 billion shares and may differ materially from any official valuation or IPO price. The instrument may be converted, settled, or delisted upon IPO or IPO cancellation, including forced closure of open positions. Funding fees apply.