TL;DR
- The Anthropic Pre-IPO Challenge runs November 10 to December 10, 2026 on Kraken Pro
- Trade the ANTHROPICx Perp (PF_ANTHROPICXUSD) with up to 10x leverage and compete for a share of up to $20,000 in ANTHROPICX
- Your individual trading volume determines your rank; the top traders share the biggest prizes
- Enroll before you trade: positions placed prior to enrollment do not count toward your score
Anthropic is among the most-anticipated listings of 2026. With its IPO widely expected before year’s end, traders have been watching from the sidelines. Until now.
Starting November 10, we’re giving Kraken Pro traders a way to trade Anthropic price exposure before the listing and compete for a share of up to $20,000 in ANTHROPICX at the same time.
Trade the ANTHROPICx Perp, build your volume, and climb the leaderboard. The more you trade, the higher you rank. The more the community trades together, the bigger the prize pool.
What is the ANTHROPICx Perp?
The ANTHROPICx Perp (PF_ANTHROPICXUSD) is a perpetual futures contract that gives you price exposure to Anthropic ahead of its anticipated IPO. This isn’t equity in Anthropic; it’s a derivatives instrument that tracks Anthropic’s price, tradeable on Kraken Pro with up to 10x leverage.
If you’ve been following the IPO speculation and want to trade your view before the listing happens, this is your entry point on Kraken Pro.
How the competition works
The Anthropic Pre-IPO Challenge is a volume-ranked competition open to eligible Kraken Pro users. Here’s how it works:
- Enroll in the Anthropic Pre-IPO Challenge before placing any trades — enrollment is required; any volume from trades placed before you opt in will not count toward your score
- Trade the ANTHROPICx Perp (PF_ANTHROPICXUSD) on Kraken Pro during the competition window: November 10, 2026 00:00 UTC to December 10, 2026 23:59 UTC
- Your individual trading volume determines your rank on the leaderboard
- A minimum of $10,000 in trading volume is required to qualify for prizes
- The top-ranked participants share the prize pool
The more you trade, the higher you rank. The higher your rank, the bigger your prize.
The prize pool
The starting pool is $10,000 in ANTHROPICX. If the community’s combined trading volume crosses $100 million during the competition window, the pool doubles to $20,000 in ANTHROPICX. Your rank decides your share.
| Rank | Default pool ($10,000 in ANTHROPICX) | Unlocked at $100M community volume ($20,000 in ANTHROPICX) |
| 1 | $1,500 | $3,000 |
| 2 | $800 | $1,600 |
| 3 | $600 | $1,200 |
| 4–5 | $300 each | $600 each |
| 6–10 | $200 each | $400 each |
| 11–20 | $100 each | $200 each |
| 21–50 | $17.50 each | $35 each |
| 51+ | $3,975 shared | $7,950 shared |
How to enter
You must enroll in the Anthropic Pre-IPO Challenge before placing any qualifying trades. Volume generated prior to enrollment does not count toward your score, regardless of when your Kraken Pro account was created.
- Log in or create a Kraken Pro account if you haven’t already
- Enroll in the Anthropic Pre-IPO Challenge before placing any trades
- Trade PF_ANTHROPICXUSD between November 10, 2026 00:00 UTC and December 10, 2026 23:59 UTC to build your volume and rank on the leaderboard
Eligibility restrictions apply. Terms and conditions apply.
Payward Digital Solutions Ltd. is licensed to conduct digital asset business by the Bermuda Monetary Authority. Trading futures, derivatives and other instruments using leverage involves an element of risk and may not be suitable for everyone. Read Kraken Derivatives’ risk disclosure to learn more.
