Bitget Opens Anthropic Pre-IPO Subscriptions With Steep Service Fees

The exchange has structured the offering into two tiers, with a VIP round opening November 5 and a public round beginning November 10. Participants can commit as little as $100, but the costs vary significantly: VIP subscribers face a 12% underwriting service fee, while public participants are charged 5%. These rANT tokens represent economic exposure to shares held by brokerage partners rather than direct equity ownership, meaning holders lack shareholder voting rights.

Bitget estimates an offering price of $103 per share for a company valuation of $1.75 trillion, though these figures remain speculative. Anthropic has not authorized or endorsed the tokenized offering, and the final issue price is contingent upon the official Nasdaq listing. While Bitget cites historical allocation rates of 40% to 80% for similar products, actual performance remains uncertain. Committed funds are locked during the subscription process, and while unallocated portions are refunded, investors cannot cancel their submissions once processed. This move follows a broader trend among crypto platforms attempting to bridge the gap between private tech valuations and retail access, often through derivative products that lack the direct legal backing of traditional securities.