Anthropic Goes On-Chain, but the Shareholder Suite Stays Off-Chain

Ondo Finance plans to offer tokenized Anthropic shares through Ondo Stocks under the ticker ANTon, beginning on the day the AI company starts trading. The launch would give crypto users a share-backed alternative to pre-IPO derivatives already linked to Anthropic’s valuation.

Under Ondo Stocks’ legal structure, holders do not own Anthropic stock directly. Instead, investors hold structured notes issued by Ondo Global Markets (BVI) Limited and backed by underlying securities.

Token holders may redeem their positions at the value of the underlying assets, but the product does not provide shareholder voting rights or information rights.

Ondo’s planned offering extends the company’s Ondo Stocks tokenization product to $ONDO-linked access to another private AI company, according to the announcement. The tokenized Anthropic product is slated to become available on IPO day.