Ondo plans to offer tokenized Anthropic shares starting on the AI company's IPO day. The tokens will use share-backed notes, open to eligible non-US investors. This gives global buyers a new way to gain exposure to a major AI firm through blockchain-based assets, before Anthropic even lists on traditional exchanges.
What actually happened
According to The Defiant, Ondo plans to launch tokenized Anthropic shares on the day of the company's initial public offering. The product, called Ondo Stocks, will use share-backed notes rather than synthetic derivatives. Eligibility is limited to non-US investors, per the report. The outlet notes this approach differs from derivatives already trading on Anthropic's valuation, which track price movements without granting any claim on underlying shares. The report did not disclose a specific IPO date, pricing details, or the size of the planned offering. No named officials from Ondo or Anthropic were quoted in the available material.
How we got here
Tokenized stock products expanded quickly through 2025, as platforms sought onchain access to private and pre-IPO companies. Ondo has built its xStocks line around wrapping real equity in blockchain tokens. Separately, derivative markets already let traders speculate on Anthropic's valuation without owning shares, reflecting strong investor demand around the AI sector ahead of any public listing. Ondo's planned share-backed notes would mark a shift from pure price-speculation products toward instruments tied to actual share ownership, according to The Defiant.
Why this matters for you
For investors, tokenized Anthropic shares could offer earlier access to a major AI company, without waiting for a traditional brokerage listing. Share-backed notes may carry different legal claims than derivatives, so investors should examine what rights the notes actually confer. For builders, Ondo's approach could set a template for how other private AI firms get tokenized before public listings. US investors remain excluded under current eligibility rules, a reminder that regulatory walls still shape access. Holders of existing Anthropic-linked derivatives may now face competition from a share-backed alternative.
The bigger question
If share-backed notes become the standard way to access pre-IPO companies, what happens to traditional public offerings? Blockchain-based ownership could let global investors hold real equity claims from a company's first public day. Does this widen access responsibly, or create new risks when legal protections around these notes remain untested at scale?
What to watch
No confirmed date exists yet for Anthropic's IPO, or for when Ondo's tokenized shares will launch. Watch for official announcements from Ondo on launch timing, eligibility, and covered jurisdictions. Any statement from Anthropic about its own listing plans would also move this story forward. Bonuz will continue following tokenized equity developments as they unfold.
