21Shares Launches Anthropic Synthetic ETN in Vienna

21Shares launched a new exchange-traded note (ETN) listed in Vienna that provides synthetic exposure to the AI company Anthropic. The product, traded under the ticker CLOU, uses a special purpose vehicle to track perpetual futures on Anthropic before the company's expected initial public offering in the United States during the week of Thanksgiving.

President and CIO Duncan Moyer stated that the ETN will remain a synthetic product after Anthropic goes public, though its pricing will shift to reference the spot price of the equity. The product has been cross-listed across approximately seven venues in continental Europe, including markets in Germany.

Moyer noted that investor inquiries for the Anthropic ETN have exceeded those for any previous 21Shares product, including the firm's first Bitcoin offering.