@Ondo ($ONDO) plans to offer tokenized @AnthropicAI shares through Ondo Stocks under the ticker ANTon on the day the AI company begins trading. The product would give crypto users a share-backed alternative to the pre-IPO derivatives already tracking Anthropic's valuation.

How the Ondo Stocks Product Works

Holders would not own Anthropic stock directly.

Under the legal structure of Ondo Stocks, investors hold structured notes issued by Ondo Global Markets (BVI) Limited and backed by underlying securities. Token holders may redeem at the value of the underlying assets, but do not hold shareholder voting or information rights.

The notes are designed to differ from existing market products.

Ondo Stocks uses share-backed notes for eligible non-US investors, unlike the derivatives already trading on Anthropic's valuation.
Those derivatives include Trade.xyz's ANT perpetual and 21Shares' CLAU.
U.S. persons are excluded from participating in the offering.

Ondo has not given a launch date beyond the first day of trading.

The announcement gave no calendar date beyond IPO day.

Anthropic's IPO Timeline Remains Unconfirmed

Anthropic filed publicly on Oct. 26 with the US Securities and Exchange Commission for an IPO.
The stock will trade under the ticker ANT and will be listed on the Nasdaq exchange.

The company has not set a listing date.

Reports point to a mid-November debut.

The Wall Street Journal and Reuters have said the company is aiming to debut in the week of November 16.

That timing is not firm.

Anthropic has not declared a date, and it still has to complete an investor roadshow, set a price, and receive a final green light from regulators.

Pricing details also remain open.

Anthropic has not yet set a price range or the number of shares it will sell.

Prediction market sentiment has also cooled on the timeline, according to Crypto Briefing.

Traders have not abandoned the idea of a listing, but have mostly pushed back their expected timeline and lowered their conviction.

For $ONDO, the plan extends Ondo's push into tokenized equities and private market exposure, following its earlier launch of notes tied to an unnamed pre-IPO AI company. The new product would be its first tied to a company listing on the day it starts trading.