Coinbase Launches OpenAI and Anthropic Pre-IPO Perpetual Futures After SpaceX Success

Coinbase has launched perpetual futures contracts tied to the pre-IPO valuations of AI companies OpenAI and Anthropic, expanding its offering of tokenized pre-IPO derivatives. The announcement came on June 22, 2026, just weeks after the exchange debuted similar contracts for SpaceX.

In a post on X (formerly Twitter), Coinbase stated: “We will add support for Anthropic and OpenAI pre-IPO perpetual futures on Coinbase. The opening of our ANTHROPIC-PERP and OPENAI-PERP pre-IPO market will begin on or after 11:00am UTC on 22 June 2026.” Shortly after, the exchange confirmed that trading had commenced, with limit, market, stop, and stop-limit orders all available.

The launch allows traders to speculate on the potential valuation of OpenAI and Anthropic before either company goes public. Both AI firms have taken steps toward an IPO: Anthropic confidentially filed in June 2026, and OpenAI followed with its own filing shortly after. While no official IPO date has been announced, market observers expect listings by the end of the year.

Coinbase’s move comes on the heels of a successful debut for SpaceX pre-IPO perpetual futures on June 4, which generated significant trading volume. The exchange has indicated that more pre-IPO products may be introduced. At its June 16 “System Update” event, Coinbase outlined plans to further develop this segment.

However, Coinbase faces growing competition from Binance, which was first to market with SpaceX pre-IPO futures and has also launched similar contracts for OpenAI and Anthropic. Both exchanges are vying for dominance in the emerging market for tokenized pre-IPO exposure, which allows retail and institutional traders to gain exposure to private companies before their public listings.

The trend underscores the convergence of traditional finance and crypto, as exchanges leverage blockchain technology to offer innovative derivatives. While the regulatory landscape for such products remains uncertain in some jurisdictions, Coinbase and Binance are pushing ahead with expanding their pre-IPO futures offerings.

Source: https://coingape.com/coinbase-to-launch-openai-anthropic-pre-ipo-futures-after-spacex-success/