Crypto exchange OKX announced on September 10 that it has launched "Pre-IPO X-Perps" in the European market, which are linked to the fluctuations in the corporate value of OpenAI and Anthropic.

These products are not the shares of the companies themselves, but derivatives linked to changes in their corporate value. Investors can trade both long positions, anticipating a price increase, and short positions, anticipating a price decrease, utilizing leverage of up to 10x. However, no actual shares, voting rights, or rights to acquire future shares are granted.

Shares of private companies are typically traded through funding rounds, limiting the pool of eligible investors; however, this product provides investors with a new means of trading. Other exchanges, such as Hyperliquid and Binance, also provide markets linked to OpenAI and Anthropic.

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