Europe’s pre-IPO Anthropic ETP lets investors trade its implied valuation

Investors can now trade exposure to Anthropic’s implied valuation before its IPO through a European exchange-traded product. Launched on October 13, 2026, 21shares’ pre-IPO Anthropic ETP, the 21shares Anthropic Synthetic ETP , uses derivatives to provide continuous, unleveraged exposure to the private AI company’s valuation. Key takeaways CLAU is Europe’s first ETP offering pre-IPO exposure to Anthropic. The product tracks valuation exposure through swaps tied to a Kaiko benchmark. Its total expense ratio is 1.00%, with a separate 2.00% exit fee.

Source: The Cryptonomist