21shares has launched the 21shares Anthropic Synthetic ETP (ticker $CLAU), which began trading on October 13 on Vienna MTF, operated by Wiener Börse. The product offers continuous, unleveraged exposure to Anthropic's implied valuation before its IPO, which 21shares describes as the first such ETP in Europe. Rather than holding shares, it tracks the valuation through total return swaps linked to the Kaiko Anthropic USD Reference Rate, which is based on Anthropic perpetual futures traded on Binance. The ETP carries a total expense ratio of 1% and a 2% exit fee. President and CIO Duncan Moir said the product lets investors trade private-market valuations as easily as traditional stocks or ETFs, marking an expansion beyond crypto products.
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