Coinbase is selling pre-IPO perps on SpaceX, OpenAI, and Anthropic
You can now take a leveraged position on a rocket company that has never sold a public share. The mechanics are clever, the demand is obvious, and the pricing problem sitting underneath it is the part nobody is rushing to explain. On June 16, Brian Armstrong unveiled what Coinbase calls the Everything Exchange, a sweeping update that folds crypto, stocks, prediction markets, and futures into a single account. Buried in the announcement was a product that deserves its own conversation: pre-IPO perpetual futures linked to private companies, starting with SpaceX and with OpenAI and Anthropic set to follow. The pitch is direct. You no longer have to be an accredited investor with access to a private share sale to bet on the most valuable startups in the world. You can open a position on Coinbase like any other contract. JUST IN: Coinbase to add SpaceX pre-IPO perpetual futures That is a genuine expansion of access, and it is also a trade built on a foundation that does not work the way a normal futures market does. A perpetual future needs a price to track. SpaceX, OpenAI, and Anthropic do not have one, at least not the kind that updates every second on a public exchange.









