First product issued under 21shares' new dedicated SPV architecture, unlocking advanced multi-asset and synthetic capabilities to bring Anthropic’s pre-IPO implied valuation to public market investors in collaboration with FalconX
Zürich, 13 October 2026 – 21shares, a global leader in cryptocurrency exchange-traded products (ETPs), today announced the launch of the 21shares Anthropic Synthetic ETP (ticker: CLAU). The product is Europe’s first ETP offering continuous, unleveraged exposure to the implied valuation of Anthropic, one of the world's leading artificial intelligence companies, ahead of its highly anticipated initial public offering (IPO).
| Ticker | ISIN | Exchange | Currency | Fee | Inception Date | Issuer |
| CLAU | CH1606386675 | Vienna MTF operated by Wiener Börse | USD | Total expense ratio: 1.00% Exit fee: 2.00% | 13 October 2026 | 21shares x FalconX Limited |
Investors who want exposure to Anthropic’s implied market valuation can now reach it through the ETP structure as easily as any stock or index ETF. This allows investors to obtain economic exposure to Anthropic’s valuation, ahead of its highly anticipated IPO.
The launch is made possible by a new dedicated 21shares Special Purpose Vehicle (SPV), 21shares x FalconX Limited, created to issue synthetic exposure. Operating as a standalone structure, the SPV fundamentally expands 21shares’ product engineering capabilities. By combining 21shares’ ETP structuring expertise with FalconX’s prime brokerage balance sheet, multi-venue execution, and derivatives desk, the structure establishes a repeatable pipeline for bringing multi-asset strategies, pre-IPO exposure and yield-bearing derivative structures directly to investors.
For pre-IPO exposure, underlying exposure is actively sourced via the underlying instrument which incorporates total returns swaps (TRS) on the Kaiko Anthropic USD Reference Rate (USDT) (London) index. The daily Kaiko index reference price is derived from Binance's Anthropic perpetual futures. These swap contracts provide performance tracking of the listed perpetual futures, with no leverage.
"Frontier AI is absorbing capital at a faster rate than almost any sector in history, yet its primary value drivers remain locked inside private companies," said Duncan Moir, President and Chief Investment Officer at 21shares. "Traditional investors who want to take part in this value creation face a growing access problem. We are taking the structural tools developed in digital assets and applying them to alternative and multi-asset investing. Wrapping pre-IPO exposure into an ETP bridges this access gap, allowing allocators to trade private market valuations as seamlessly as any traditional stock or ETF."
"Financial markets are evolving quickly, and investors want access to the segments that matter most. This launch is the latest example of 21shares launching differentiated products that give investors the exposure they are asking for," said Austin Reid, Chief Commercial & Strategy Officer at FalconX. "We look forward to continuing to work alongside 21shares to bring an expanded range of multi-asset products to market."
"Kaiko's role is to provide 21shares and FalconX with an objective, transparent reference price for Anthropic's implied valuation, based on real pre-ipo trading activity on perpetual markets, so that the product's NAV relies on a price set by an independent, institutional-grade benchmark administrator," said Anne-Claire Maurice, Managing Director, Indices and Analytics Data at Kaiko.
Notes to editors
About 21shares
21shares is a global leader in Exchange-Traded Products (ETPs), offering liquid access to digital assets and multi-asset strategies. 21shares lists innovative financial products across major global exchanges. 21shares operates as an independent business unit within FalconX, one of the world's largest digital asset prime brokers. For more information, visit www.21shares.com.
Contact: audrey.belloff@21shares.com
DISCLAIMER
Past performance is not a reliable indicator of future results and should not be a sole factor of consideration when selecting a product. This document is not an offer to sell or a solicitation of an offer to buy or subscribe for securities of 21shares x FalconX Limited in any jurisdiction. Neither this document nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever or for any other purpose in any jurisdiction. Nothing in this document should be considered investment advice.
This product is not affiliated with or endorsed by Anthropic, and it does not provide direct exposure to Anthropic physical equity shares, either before or after an IPO.
For investors in the USA, Canada or Australia: This document and the information contained herein are not for distribution in or into (directly or indirectly) the United States, Canada, Australia or Japan or any other jurisdiction in which the distribution or release would be unlawful. This document does not constitute an offer of securities for sale in or into the United States, Canada, Australia or Japan. The securities of 21shares x FalconX Limited to which these materials relate have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There will not be a public offering of securities in the United States. Neither the US Securities and Exchange Commission nor any securities regulatory authority of any state or other jurisdiction of the United States has approved or disapproved of an investment in the securities or passed on the accuracy or adequacy of the contents of this presentation. Any representation to the contrary is a criminal offence in the United States.
For investors in Switzerland and the United Kingdom: this document does not constitute a promotion of securities for sale in or into Switzerland or in the United Kingdom. There will not be a public offering of securities in Switzerland or in the United Kingdom. This advertisement is only available to professional investors in those jurisdictions.
Exclusively for potential investors in any EEA Member State that has implemented the Prospectus Regulation (EU) 2017/1129 the Issuer’s Base Prospectus (EU) is made available on the Issuer’s website under https://www.21shares.com/en-eu/product-documents/prospectus?subcategory=21shares-x-falconx. The approval of the Issuer’s Base Prospectus (EU) should not be understood as an endorsement by the SFSA of the securities offered or admitted to trading on a regulated market. Eligible potential investors should read the Issuer’s Base Prospectus (EU) and the relevant Final Terms before making an investment decision in order to understand the potential risks associated with the decision to invest in the securities. You are about to purchase a product that is not simple and may be difficult to understand.
This document constitutes advertisement within the meaning of the Prospectus Regulation (EU) 2017/1129 and not a prospectus. The 2026 Base Prospectus of 21shares x FalconX Limited and the key information document for any products may be obtained at 21shares x FalconX Limited website (https://www.21shares.com/en-eu/product-documents/prospectus?subcategory=21shares-x-falconx or https://21shares.com/ir/kids).
The sole issuer of this 21shares product is 21shares x FalconX Limited (the "Issuer"), a 21shares special purpose vehicle and wholly owned subsidiary of Jura Pentium Limited. FalconX appears in the Issuer's name for branding purposes only. No FalconX entity is an issuer, co-issuer, guarantor or obligor of the securities, and investors have no recourse to FalconX.
FalconX acts only as contract, liquidity and hedging counterparty to the Issuer and does not offer or solicit the securities. 21shares is a wholly owned FalconX subsidiary, which may give rise to conflicts of interest described in the Base Prospectus.
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