Coinbase launched pre-IPO perpetual futures for OpenAI and Anthropic on June 22, 2026, enabling non-U.S. customers to trade contracts linked to the two artificial intelligence companies before any public listings occur. Coinbase CEO Brian Armstrong said the exchange added the products because regular investors cannot access many high-profile private companies before they go public. The launch follows growing demand for artificial intelligence exposure across public and private markets, with OpenAI and Anthropic remaining private and inaccessible to most retail investors outside restricted channels such as private-market funds or employee share sales.
Coinbase Lists ANTHROPIC-PERP and OPENAI-PERP Trading Products
Coinbase said trading for both markets began on or after 11:00 a.m. UTC on June 22, 2026. The exchange later confirmed that both products had entered full-trading mode, with limit, market, stop and stop-limit orders available. The exchange listed ANTHROPIC-PERP and OPENAI-PERP, allowing eligible users outside the United States to trade contracts linked to expected pre-IPO valuations.
Pre-IPO perpetual futures do not provide direct ownership of private company shares. Instead, they allow traders to speculate on valuation-linked contracts before an initial public offering or public market listing occurs.
The launch follows Coinbase's earlier rollout of SpaceX pre-IPO perpetual futures on June 4. Binance launched SpaceX-linked pre-IPO products before Coinbase and later introduced contracts tied to OpenAI and Anthropic, increasing competition in synthetic private-market exposure.
Anthropic Files Confidential S-1 and Faces Model Suspension
Anthropic confidentially submitted a draft Form S-1 with the U.S. Securities and Exchange Commission on June 1. Anthropic reportedly closed a $65 billion Series H funding round that valued the company at $965 billion post-money. The company's annualized revenue run rate reportedly increased from $4 billion last year to $47 billion in May 2026, supported by enterprise demand for products such as Claude Code.
The U.S. government recently ordered the company to temporarily suspend access to its Fable 5 and Mythos 5 models over national security concerns linked to jailbreak risks.
OpenAI Files Confidential IPO After March 2026 Funding Round
OpenAI confidentially filed for a U.S. IPO on June 8. OpenAI was last valued privately at $852 billion after a March 2026 funding round. Together, the known private valuations place OpenAI and Anthropic at about $1.817 trillion.
FAQ
What did Coinbase launch on June 22, 2026?
Coinbase launched pre-IPO perpetual futures for OpenAI and Anthropic on June 22, 2026, enabling non-U.S. customers to trade contracts linked to the two artificial intelligence companies before any public listings occur.
Why did the U.S. government suspend Anthropic's models?
The U.S. government recently ordered Anthropic to temporarily suspend access to its Fable 5 and Mythos 5 models over national security concerns linked to jailbreak risks.
When did OpenAI file for an IPO?
OpenAI confidentially filed for a U.S. IPO on June 8.
