Swiss crypto investment company 21shares has launched an exchange-traded product (ETP) tied to the implied valuation of AI firm Anthropic.
The 21shares Anthropic Synthetic ETP trades as CLAU. It lets investors take part in that valuation before the firm’s expected IPO.
The crypto ETP provider says it is Europe’s first ETP to offer this exposure continuously and without leverage.
In addition, investors can buy it through a standard brokerage account. However, they do not buy Anthropic shares directly.
Instead, the ETP gets its exposure through total return swaps. Under a swap, one party pays the other the full return of an agreed asset.
The swaps are linked to the Kaiko Anthropic USD Reference Rate (USDT) (London) Index.
In turn, the index price is based on Anthropic perpetual futures on Binance. These futures have no expiry date.
CLAU trades in euros on the Vienna MTF, run by the Vienna Stock Exchange. It has a yearly total expense ratio of 1.00% and an exit fee of 2.00%.
The ETP is also the first product under a new special purpose vehicle (SPV) created with FalconX.
Duncan Moir, President and Chief Investment Officer at 21shares, said the main value drivers in the most advanced AI still lie with private firms. In his view, putting pre-IPO exposure into an ETP closes this access gap.
According to 21shares, the product is not connected to or endorsed by Anthropic. It gives no direct exposure to Anthropic shares.
Featured image: Edited by Fintech News Switzerland, based on image by Frolopiaton Palm via Magnific.
