{"id":73828,"date":"2026-06-10T11:44:01","date_gmt":"2026-06-10T11:44:01","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/defillama-adds-pre-ipo-perps-for-openai-spacex-and-anthropic-as-onchain-ai-bets-heat-up\/"},"modified":"2026-06-10T11:44:01","modified_gmt":"2026-06-10T11:44:01","slug":"defillama-adds-pre-ipo-perps-for-openai-spacex-and-anthropic-as-onchain-ai-bets-heat-up","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/defillama-adds-pre-ipo-perps-for-openai-spacex-and-anthropic-as-onchain-ai-bets-heat-up\/","title":{"rendered":"Defillama Adds Pre-IPO Perps for OpenAI, SpaceX, and Anthropic as Onchain AI Bets Heat Up"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<p><span style=\"font-weight:400\"><\/p>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Defillama now tracks 14 pre-IPO perp markets across SpaceX, OpenAI, Anthropic, and Quantinuum.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Aster logged about $68 billion and Lighter about $50 billion in 30-day perp volume.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">SpaceX is set to price its IPO around June 11 at a valuation near $1.75 trillion.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p><\/span><\/p>\n<h2><span style=\"font-weight:400\">Onchain Markets for Companies That Aren\u2019t Public Yet<\/span><\/h2>\n<p><span style=\"font-weight:400\"> <span>Crypto<\/span> <\/span><span style=\"font-weight:400\">data aggregator Defillama<\/span><span style=\"font-weight:400\"> said it has added new pre-IPO perpetual futures markets spanning four closely watched private firms, namely Anthropic, OpenAI, SpaceX, and Quantinuum. The listings let traders take leveraged positions on synthetic prices tied to each company\u2019s expected valuation, even though none of the four trades on a public stock exchange yet.<\/span><\/p>\n<p><span style=\"font-weight:400\">The markets are spread across several decentralized venues with Defillama noting that SpaceX now has six tracked markets, while OpenAI and Anthropic each have three and Quantinuum has two, hosted on perp-focused platforms including Aster, Lighter, and ApeX. The products are synthetic, i.e. they offer price exposure with no equity rights, settling against a market-implied estimate of each firm\u2019s per-share value.<\/span><\/p>\n<figure id=\"attachment_821764\" aria-describedby=\"caption-attachment-821764\" style=\"width:738px\" class=\"wp-caption aligncenter\"><figcaption id=\"caption-attachment-821764\" class=\"wp-caption-text\">Image source: X<\/figcaption><\/figure>\n<p><span style=\"font-weight:400\">These contracts are perpetual futures, derivatives with no expiry date that let traders hold leveraged long or short positions indefinitely. By porting that structure onto pre-IPO names, <span>decentralized exchanges<\/span> ( <span>DEXs<\/span>) are effectively building speculative markets for private-company valuations that were once the exclusive domain of venture capital.<\/span><\/p>\n<h2><span style=\"font-weight:400\">A <span>Volume<\/span> Race Among Perp <span>DEXs<\/span><\/span><\/h2>\n<p><span style=\"font-weight:400\">The new listings land amid a fierce contest for derivatives <span>volume<\/span> as Aster accounted for roughly $68 billion in 30-day perpetual <span>DEX<\/span> <span>volume<\/span>, while Lighter recorded about $50 billion over the same span (indicating substantial activity has <a href=\"https:\/\/news.bitcoin.com\/decentralized-exchanges-capture-nearly-20-of-global-perps-market\/\">migrated to onchain venues<\/a>). Aster had already launched a synthetic SpaceX perpetual under the ticker SPCX and an OpenAI contract with <\/span><span style=\"font-weight:400\">up to 5x <span>leverage<\/span><\/span><span style=\"font-weight:400\"> before the latest expansion.<\/span><\/p>\n<p><span style=\"font-weight:400\">A wave of similar products has swept across the industry since May 2026, with centralized players such as OKX, Binance Futures, and <span>Crypto<\/span>.com rolling out their own pre-IPO contracts targeting OpenAI, SpaceX, and Anthropic. The trend has not been without pain, with <span>Bitcoin.com<\/span> News reporting recently that a SpaceX pre-market perpetual on Hyperliquid suffered a <\/span><a href=\"https:\/\/news.bitcoin.com\/spacex-pre-ipo-market-flash-crashes-hyperliquid\/\"><span style=\"font-weight:400\">45% flash crash<\/span><\/a><span style=\"font-weight:400\">, wiping out more than $1.5 million in leveraged positions in 30 minutes as thin <span>liquidity<\/span> gave way.<\/span><\/p>\n<h2><span style=\"font-weight:400\">Riding the AI IPO Wave<\/span><\/h2>\n<p><span style=\"font-weight:400\">The timing of the development is intentional as the four firms sit at the center of an enormous pipeline of expected listings. SpaceX is reportedly set to price its initial public offering (IPO) around mid-June ahead of a public debut, targeting a valuation near $1.75 trillion in what could become the largest IPO in history. Anthropic has filed confidentially and is eyeing a listing as soon as October, with <a href=\"https:\/\/news.bitcoin.com\/openai-files-draft-s-1-at-852b-valuation-as-chatgpt-hits-900m-weekly-users\/\">OpenAI following suit<\/a> (while Quantinuum, the Honeywell-backed quantum-computing firm, is also moving toward a debut).<\/span><\/p>\n<p><span style=\"font-weight:400\">That pipeline has spilled into <a href=\"http:\/\/www.bitcoin.com\/get-started\/a-quick-introduction-to-crypto\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">crypto<\/a> in more ways than one. <a href=\"https:\/\/www.bitcoin.com\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">Bitcoin.com<\/a> News reported on a theory that IPO mania around SpaceX, OpenAI, and Anthropic is <\/span><a href=\"https:\/\/news.bitcoin.com\/bitcoin-sell-off-theory-points-to-spacex-openai-anthropic-ipo-mania-draining-crypto-cash\/\"><span style=\"font-weight:400\">draining cash from bitcoin<\/span><\/a><span style=\"font-weight:400\">, and separately that a multitrillion-dollar <\/span><a href=\"https:\/\/news.bitcoin.com\/3-trillion-ai-ipo-wave-could-pull-capital-from-bitcoin-as-investors-chase-new-market-giants\/\"><span style=\"font-weight:400\">AI IPO wave was pulling capital<\/span><\/a><span style=\"font-weight:400\"> away from digital assets as investors chase new market giants.<\/span><\/p>\n<p><span style=\"font-weight:400\">In any case, for onchain traders, the appeal seems to be streamlined access given pre-IPO perps offer a way to express a view on private megacaps without the gatekeeping of late-stage venture rounds (but with the <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-leverage-in-crypto-trading\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">leverage<\/a>, thin <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-liquidity\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">liquidity<\/a>, and flash-crash risk that come with synthetic markets).<\/span><\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/defillama-pre-ipo-perps-openai-spacex-anthropic\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Defillama now tracks 14 pre-IPO perp markets across SpaceX, OpenAI, Anthropic, and Quantinuum. Aster logged about $68 billion and Lighter about $50 billion in 30-day perp volume. SpaceX is set to price its IPO around June 11 at a valuation near $1.75 trillion. Onchain Markets for [&hellip;]<\/p>\n","protected":false},"author":3947362404,"featured_media":73829,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/73828"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362404"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=73828"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/73828\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/73829"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=73828"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=73828"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=73828"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}