21shares Launches Europe’s First Pre-IPO Anthropic Synthetic ETP

21shares has launched the 21shares Anthropic Synthetic ETP (CLAU), Europe’s first exchange-traded product offering unleveraged exposure to the implied valuation of artificial intelligence company Anthropic ahead of a potential IPO. Listed on the Vienna MTF on October 13, the ETP carries a 1.00% annual expense ratio and a 2.00% exit fee. Developed in partnership with FalconX, the product uses total return swaps linked to the Kaiko Anthropic USD Reference Rate, which derives its pricing from Anthropic perpetual futures traded on Binance. The ETP does not hold shares in Anthropic, instead providing synthetic exposure to market expectations of the company's private valuation. CLAU is the first product issued through 21shares' new dedicated special purpose vehicle, 21shares x FalconX Limited, designed to support future pre-IPO, multi-asset and derivatives-based investment products.