{"id":74420,"date":"2026-06-23T02:55:36","date_gmt":"2026-06-23T02:55:36","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/coinbase-launches-exposure-to-2-ai-giants-still-private\/"},"modified":"2026-06-23T02:55:36","modified_gmt":"2026-06-23T02:55:36","slug":"coinbase-launches-exposure-to-2-ai-giants-still-private","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/coinbase-launches-exposure-to-2-ai-giants-still-private\/","title":{"rendered":"Coinbase Launches Exposure to 2 AI Giants Still Private"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\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\">Coinbase introduced valuation-linked futures tied to OpenAI and Anthropic for eligible traders.<\/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\">Unlike traditional investing, the contracts provide exposure without ownership or voting rights.<\/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\">Contract adjustments can connect pricing to public market data after listings.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>Coinbase Promotes New Access to OpenAI and Anthropic Valuations<\/h2>\n<p> <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> exchange Coinbase (Nasdaq: COIN) has introduced pre-IPO perpetual futures (perps) tied to OpenAI and Anthropic, offering eligible non-U.S. customers a way to trade exposure to two of the most closely watched private artificial intelligence (AI) companies. The launch expands Coinbase International Exchange\u2019s lineup of perpetual products into private-market valuation trading.<\/p>\n<p>Coinbase CEO Brian Armstrong highlighted the challenges retail investors face when trying to access private companies before public listings. OpenAI and Anthropic remain privately held, limiting traditional investment opportunities for most market participants.<\/p>\n<p>On June 22, Armstrong <a href=\"https:\/\/x.com\/brian_armstrong\/status\/2069046832752144555\" target=\"_blank\" rel=\"noopener noreferrer\">wrote<\/a> on X:<\/p>\n<blockquote>\n<p>\u201cTwo of the biggest, most hyped private companies are due to go public soon (OpenAI and Anthropic). But because they\u2019re private, regular people can\u2019t get exposure. We launched pre-IPO perps for both these companies on Coinbase (non-US customers).\u201d<\/p>\n<\/blockquote>\n<p>Platform access is restricted to eligible users outside the United States through Coinbase International Exchange. The contracts allow traders to take long or short positions while using the exchange\u2019s existing perpetual futures infrastructure, including margin requirements, funding mechanisms, and risk controls.<\/p>\n<h2>Valuation-Based Contracts Transition Into Equity-Linked Perpetual Futures<\/h2>\n<p>Coinbase\u2019s pre-IPO perpetual futures use company-wide valuation metrics instead of hypothetical share prices, reflecting the lack of finalized capital structures before listing. Private firms often revise share counts or adjust capitalization during IPO preparation, making early share-based pricing unreliable. Anchoring contracts to total equity valuation helps avoid distortions from incomplete disclosures.<\/p>\n<p>Trading occurs continuously, with positions margined and settled in USDC. Participants gain exposure to valuation changes without acquiring equity or voting rights. The perpetual format removes expiry constraints, allowing positions to remain open while funding rates align contract prices with valuation benchmarks.<\/p>\n<p>Coinbase explained:<\/p>\n<blockquote>\n<p>\u201cPre-IPO perpetual futures allow users to trade USDC-settled perpetual futures contracts on private companies ahead of their IPO, referencing the company\u2019s total equity valuation rather than an estimated pre-IPO share price.\u201d<\/p>\n<\/blockquote>\n<p>As companies approach listing, contracts undergo a structured conversion process that aligns them with public market pricing once key details become available.<\/p>\n<p>The conversion process ensures continuity as companies move toward public markets. After share counts are disclosed, contracts adjust to per-share pricing and later link to live equity data, allowing a controlled transition without requiring traders to close positions.<\/p>\n<p>Coinbase demonstrated this model with its SPCX-PERP contract tied to the IPO of Elon Musk\u2019s SpaceX. After a June 3, 2026, S-1\/A filing, the exchange executed a per-share rebase on June 11, converting the contract into a share-based format. It transitioned into a standard equity perpetual future on June 12, with pricing linked to live equity feeds from Pyth, a market data provider.<\/p>\n<div class=\"not-prose my-3 lg:my-4\"><a aria-label=\"Read Now: Coinbase\u2019s Everything Exchange Expands With Pre-IPO Perps, Stock Options, Tokenized Stocks\" class=\"block overflow-hidden rounded-lg !bg-[#E8EDFA] p-[9px] no-underline focus-visible:outline-none focus-visible:ring-2 focus-visible:ring-[#4169E1] focus-visible:ring-offset-2 flex flex-col md:hidden\" href=\"https:\/\/news.bitcoin.com\/coinbases-everything-exchange-expands-with-pre-ipo-perps-stock-options-tokenized-stocks\/\"><\/p>\n<div class=\"relative aspect-video w-full overflow-hidden rounded-[15px]\"><\/p>\n<h3 class=\"absolute inset-x-0 bottom-0 m-0 p-3 text-xl font-bold capitalize leading-[1.17] tracking-[-0.4px] !text-white\">Coinbase\u2019s Everything Exchange Expands With Pre-IPO Perps, Stock Options, Tokenized Stocks<\/h3>\n<\/div>\n<div class=\"flex flex-col gap-2.5 px-1 pt-2.5 pb-1\">\n<p class=\"m-0 line-clamp-2 text-xs leading-[1.3] !text-[#67656E]\">Coinbase is moving closer to its vision of an \u201ceverything exchange,\u201d adding pre-IPO perpetual futures, stock options, and soon tokenized\u2026<\/p>\n<p><span aria-hidden=\"true\" class=\"flex items-center justify-center rounded-pill bg-[#4169E1] text-sm font-medium text-white h-[38px] w-full\">Read Now<\/span><\/div>\n<p><\/a><a aria-label=\"Read Now: Coinbase\u2019s Everything Exchange Expands With Pre-IPO Perps, Stock Options, Tokenized Stocks\" class=\"block overflow-hidden rounded-lg !bg-[#E8EDFA] p-[9px] no-underline focus-visible:outline-none focus-visible:ring-2 focus-visible:ring-[#4169E1] focus-visible:ring-offset-2 hidden md:flex md:flex-row md:gap-3 lg:hidden\" href=\"https:\/\/news.bitcoin.com\/coinbases-everything-exchange-expands-with-pre-ipo-perps-stock-options-tokenized-stocks\/\"><\/p>\n<div class=\"relative size-[150px] min-w-[150px] shrink-0 overflow-hidden rounded-[15px]\"><img alt=\"Coinbase\u2019s Everything Exchange Expands With Pre-IPO Perps, Stock Options, Tokenized Stocks\" loading=\"lazy\" decoding=\"async\" data-nimg=\"fill\" class=\"object-cover\" style=\"position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent\" sizes=\"150px\" srcset=\"\/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F06%2Fbrian-armstrong-coinbase-everything-exchange-150x150.jpg&amp;w=32&amp;q=75 32w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F06%2Fbrian-armstrong-coinbase-everything-exchange-150x150.jpg&amp;w=48&amp;q=75 48w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F06%2Fbrian-armstrong-coinbase-everything-exchange-150x150.jpg&amp;w=64&amp;q=75 64w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F06%2Fbrian-armstrong-coinbase-everything-exchange-150x150.jpg&amp;w=128&amp;q=75 128w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F06%2Fbrian-armstrong-coinbase-everything-exchange-150x150.jpg&amp;w=256&amp;q=75 256w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F06%2Fbrian-armstrong-coinbase-everything-exchange-150x150.jpg&amp;w=384&amp;q=75 384w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F06%2Fbrian-armstrong-coinbase-everything-exchange-150x150.jpg&amp;w=640&amp;q=75 640w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F06%2Fbrian-armstrong-coinbase-everything-exchange-150x150.jpg&amp;w=828&amp;q=75 828w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F06%2Fbrian-armstrong-coinbase-everything-exchange-150x150.jpg&amp;w=1080&amp;q=75 1080w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F06%2Fbrian-armstrong-coinbase-everything-exchange-150x150.jpg&amp;w=1200&amp;q=75 1200w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F06%2Fbrian-armstrong-coinbase-everything-exchange-150x150.jpg&amp;w=1920&amp;q=75 1920w\" src=\"https:\/\/news.bitcoin.com\/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F06%2Fbrian-armstrong-coinbase-everything-exchange-150x150.jpg&amp;w=1920&amp;q=75\"\/><\/p>\n<div class=\"absolute left-2 top-2\"><img alt=\"Bitcoin.com News\" loading=\"lazy\" width=\"28\" height=\"28\" decoding=\"async\" data-nimg=\"1\" class=\"size-7\" style=\"color:transparent\" srcset=\"\/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=32&amp;q=75 1x, \/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=64&amp;q=75 2x\" src=\"https:\/\/news.bitcoin.com\/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=64&amp;q=75\"\/><\/div>\n<\/div>\n<div class=\"flex min-w-0 flex-1 flex-col justify-between gap-2\">\n<h3 class=\"m-0 line-clamp-3 text-xl font-bold capitalize leading-[1.17] tracking-[-0.4px] !text-[#1C1C1C]\">Coinbase\u2019s Everything Exchange Expands With Pre-IPO Perps, Stock Options, Tokenized Stocks<\/h3>\n<p class=\"m-0 line-clamp-2 text-sm leading-[1.3] !text-[#67656E]\">Coinbase is moving closer to its vision of an \u201ceverything exchange,\u201d adding pre-IPO perpetual futures, stock options, and soon tokenized\u2026<\/p>\n<p><span aria-hidden=\"true\" class=\"flex items-center justify-center rounded-pill bg-[#4169E1] text-sm font-medium text-white h-[38px] w-full\">Read Now<\/span><\/div>\n<p><\/a><a aria-label=\"Read Now: Coinbase\u2019s Everything Exchange Expands With Pre-IPO Perps, Stock Options, Tokenized Stocks\" class=\"block overflow-hidden rounded-lg !bg-[#E8EDFA] p-[9px] no-underline focus-visible:outline-none focus-visible:ring-2 focus-visible:ring-[#4169E1] focus-visible:ring-offset-2 hidden lg:flex lg:flex-row lg:gap-4\" href=\"https:\/\/news.bitcoin.com\/coinbases-everything-exchange-expands-with-pre-ipo-perps-stock-options-tokenized-stocks\/\"><\/p>\n<div class=\"relative size-[150px] min-w-[150px] shrink-0 overflow-hidden rounded-[15px]\"><img alt=\"Coinbase\u2019s Everything Exchange Expands With Pre-IPO Perps, Stock Options, Tokenized Stocks\" loading=\"lazy\" decoding=\"async\" data-nimg=\"fill\" class=\"object-cover\" style=\"position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent\" sizes=\"150px\" srcset=\"\/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F06%2Fbrian-armstrong-coinbase-everything-exchange-150x150.jpg&amp;w=32&amp;q=75 32w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F06%2Fbrian-armstrong-coinbase-everything-exchange-150x150.jpg&amp;w=48&amp;q=75 48w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F06%2Fbrian-armstrong-coinbase-everything-exchange-150x150.jpg&amp;w=64&amp;q=75 64w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F06%2Fbrian-armstrong-coinbase-everything-exchange-150x150.jpg&amp;w=128&amp;q=75 128w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F06%2Fbrian-armstrong-coinbase-everything-exchange-150x150.jpg&amp;w=256&amp;q=75 256w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F06%2Fbrian-armstrong-coinbase-everything-exchange-150x150.jpg&amp;w=384&amp;q=75 384w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F06%2Fbrian-armstrong-coinbase-everything-exchange-150x150.jpg&amp;w=640&amp;q=75 640w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F06%2Fbrian-armstrong-coinbase-everything-exchange-150x150.jpg&amp;w=828&amp;q=75 828w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F06%2Fbrian-armstrong-coinbase-everything-exchange-150x150.jpg&amp;w=1080&amp;q=75 1080w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F06%2Fbrian-armstrong-coinbase-everything-exchange-150x150.jpg&amp;w=1200&amp;q=75 1200w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F06%2Fbrian-armstrong-coinbase-everything-exchange-150x150.jpg&amp;w=1920&amp;q=75 1920w\" src=\"https:\/\/news.bitcoin.com\/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F06%2Fbrian-armstrong-coinbase-everything-exchange-150x150.jpg&amp;w=1920&amp;q=75\"\/><\/p>\n<div class=\"absolute left-2 top-2\"><img alt=\"Bitcoin.com News\" loading=\"lazy\" width=\"28\" height=\"28\" decoding=\"async\" data-nimg=\"1\" class=\"size-7\" style=\"color:transparent\" srcset=\"\/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=32&amp;q=75 1x, \/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=64&amp;q=75 2x\" src=\"https:\/\/news.bitcoin.com\/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=64&amp;q=75\"\/><\/div>\n<\/div>\n<div class=\"flex min-w-0 flex-1 flex-col justify-center gap-2\">\n<p><h3 class=\"m-0 min-w-0 flex-1 line-clamp-2 text-2xl font-bold capitalize leading-[1.17] tracking-[-0.48px] !text-[#1C1C1C]\">Coinbase\u2019s Everything Exchange Expands With Pre-IPO Perps, Stock Options, Tokenized Stocks<\/h3>\n<p><span aria-hidden=\"true\" class=\"flex items-center justify-center rounded-pill bg-[#4169E1] text-sm font-medium text-white h-12 w-[180px] shrink-0\">Read Now<\/span><\/p>\n<p class=\"m-0 line-clamp-2 text-base leading-[1.3] !text-[#67656E]\">Coinbase is moving closer to its vision of an \u201ceverything exchange,\u201d adding pre-IPO perpetual futures, stock options, and soon tokenized\u2026<\/p>\n<\/div>\n<p><\/a><\/div>\n<\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/openai-and-anthropic-pre-ipo-trading-coinbase-launches-exposure-to-2-ai-giants-still-private\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Coinbase introduced valuation-linked futures tied to OpenAI and Anthropic for eligible traders. Unlike traditional investing, the contracts provide exposure without ownership or voting rights. Contract adjustments can connect pricing to public market data after listings. Coinbase Promotes New Access to OpenAI and Anthropic Valuations Crypto exchange [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":74421,"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\/74420"}],"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\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=74420"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/74420\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/74421"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=74420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=74420"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=74420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}