New listing: OPENAIUSDT and ANTHROPICUSDT Pre-IPO Perpetual Contracts with up to 20x Leverage

Bybit has introduced new trading options with the listing of OPENAIUSDT and ANTHROPICUSDT Pre-IPO Perpetual Contracts. These contracts enable traders to speculate on the estimated valuation of OpenAI and Anthropic before their anticipated initial public offerings (IPOs). The contracts are settled in USDT and are designed to reflect the companies' market caps based on estimated share prices.

The contracts are initially based on a proportional estimate of the companies' market caps, with a rebase mechanism to adjust the contract size once the actual share count becomes available through official filings. During the pre-IPO period, the contracts feature a fixed 0.005% fee every four hours, reverting to standard mechanisms after the transition.

Trading these contracts involves significant risk, especially given the high volatility and uncertainty surrounding the companies' IPO timelines and valuations. The contracts do not confer ownership rights or shares in the companies, and their prices are influenced by market demand and supply, which may lead to wide bid-ask spreads.

This listing provides traders with a new tool to speculate on the valuation of major AI firms, potentially impacting trading strategies and market sentiment around these companies. However, since the actual IPO details remain uncertain, the contracts carry a high risk of price volatility and possible delisting if the IPO is canceled.