Dinari has pledged to offer tokenized Anthropic shares, called dShares, to investors on the day Anthropic holds its initial public offering, including investors in the United States. The move matters because it tests whether blockchain-based stock tokens can legally reach US retail buyers at the moment a private company goes public.
What actually happened
Dinari has pledged to offer tokenized Anthropic shares, called dShares, to investors on the day Anthropic holds its initial public offering, according to The Defiant. The pledge extends to investors based in the United States. Dinari's US dShares remain non-transferable, the report said. The tokens cannot be used in decentralized finance protocols. The move follows a separate plan from Ondo Finance, which intends to launch its own tokenized offering outside the United States first. Dinari's approach differs by including US investors from day one, though with restrictions attached. The Defiant did not report specific dates, token prices, or supply figures for the Anthropic dShares launch.
How we got here
Tokenized equity has become a contested corner of crypto markets in 2025, as firms race to put private company shares on public blockchains. Ondo Finance and Dinari represent two different strategies for reaching investors. Ondo has chosen to launch tokenized products outside the United States first, avoiding immediate US securities scrutiny. Dinari instead says it will include US investors from the start, but only with tokens that cannot move freely or enter DeFi platforms. Anthropic, the artificial intelligence company behind Claude, has not publicly confirmed IPO plans in the source material reviewed. The dShares pledge assumes an eventual Anthropic listing.
Why this matters for you
For US investors, this could mean earlier access to AI company equity exposure, but with real limits. Non-transferable tokens cannot be resold or moved to another wallet freely. DeFi restrictions block lending, borrowing, or trading these shares outside Dinari's own system. For builders and other tokenization platforms, Dinari's approach offers a test case for serving US customers without breaching securities rules. For the wider market, the Anthropic dShares plan signals growing competition to tokenize private AI company stock before public listings happen. Holders should treat these as early access instruments, not freely tradable assets.
The bigger question
Will regulators eventually allow these tokenized shares to trade freely in the United States, or will restrictions like non-transferability become permanent features of compliant tokenized stock? The answer could shape whether tokenized equity ever matches the liquidity of traditional exchanges, or stays a limited, compliance-first product reserved for early access rather than open trading.
What to watch
No confirmed date exists yet for Anthropic's IPO or for the dShares launch itself. Investors should watch for official filings from Anthropic, further details from Dinari on token mechanics, and Ondo Finance's non-US rollout for comparison. Bonuz will continue tracking how tokenized equity products reach everyday users as the space develops.
