Pre-IPO futures trading for Anthropic and OpenAI has reached $12 billion in total volume as of June 2026, marking a 6,000 times increase from the $2 million recorded in March. Crypto exchange Binance accounts for 83% of this volume, reflecting heightened demand for AI company exposure before they officially go public. Anthropic submitted a confidential IPO filing on June 1, with a potential market debut expected between October and December 2026. Prior to this filing, the company reported raising $65 billion, reaching a valuation of $952 billion. Financial reports indicate Anthropic could generate $10.9 billion in revenue from April to June 2026, with projected operating profits of $559 million. The ANTHROPIC/USDT perpetual contract has traded $141 million in volume since June 1 and is currently priced at $1,720.

OpenAI also confirmed a confidential SEC filing for an IPO on June 8, though the company noted it intends to remain private for the time being. In March, OpenAI disclosed a valuation of $852 billion following a $122 million funding round and reported current monthly revenues of $2 billion. Despite its growth, the company faces legal challenges, including a lawsuit from Florida regarding the safety of its ChatGPT tool. The OPENAI/USDT contract on Binance has seen $197 million in volume and currently trades at $1,384, with support established at $1,340 and resistance at $1,512.

Market analysts suggest Anthropic currently presents a more favorable pre-IPO investment profile than OpenAI due to its clearer path to a public offering and stronger adoption by the US government. While the Biden administration previously engaged with Anthropic to review AI model security flaws, political tension remains regarding government-mandated delays for specific model releases like Fable 5 and Mythos 5. These pre-IPO financial instruments allow traders to gain exposure to equity-like value before official stock market listings, though they carry risks associated with market speculation and the pre-listing regulatory environment.

Pre-IPO futures trading for Anthropic and OpenAI has reached $12 billion in total volume as of June 2026, marking a 6,000 times increase from the $2 million recorded in March. Crypto exchange Binance accounts for 83% of this volume, reflecting heightened demand for AI company exposure before they officially go public. Anthropic submitted a confidential IPO filing on June 1, with a potential market debut expected between October and December 2026. Prior to this filing, the company reported raising $65 billion, reaching a valuation of $952 billion. Financial reports indicate Anthropic could generate $10.9 billion in revenue from April to June 2026, with projected operating profits of $559 million. The ANTHROPIC/USDT perpetual contract has traded $141 million in volume since June 1 and is currently priced at $1,720.

OpenAI also confirmed a confidential SEC filing for an IPO on June 8, though the company noted it intends to remain private for the time being. In March, OpenAI disclosed a valuation of $852 billion following a $122 million funding round and reported current monthly revenues of $2 billion. Despite its growth, the company faces legal challenges, including a lawsuit from Florida regarding the safety of its ChatGPT tool. The OPENAI/USDT contract on Binance has seen $197 million in volume and currently trades at $1,384, with support established at $1,340 and resistance at $1,512.

Market analysts suggest Anthropic currently presents a more favorable pre-IPO investment profile than OpenAI due to its clearer path to a public offering and stronger adoption by the US government. While the Biden administration previously engaged with Anthropic to review AI model security flaws, political tension remains regarding government-mandated delays for specific model releases like Fable 5 and Mythos 5. These pre-IPO financial instruments allow traders to gain exposure to equity-like value before official stock market listings, though they carry risks associated with market speculation and the pre-listing regulatory environment.