Anthropic declares tokenized pre-IPO share products void — and warns investors they may be worthless!

Anthropic has issued a stark warning to retail investors: any unapproved sale or transfer of its private shares — including through tokenized products, forward contracts, or special purpose vehicles — is void and will not be recognized on its books. The company explicitly bans SPVs from acquiring its stock, a direct shot at crypto platforms offering what they describe as 1:1 economic exposure to Anthropic equity.

The warning carries real teeth. Platforms like PreStocks have been displaying an implied Anthropic valuation above $1.5 trillion — with a total asset base of roughly $23 million backing those claims. That gap between narrative valuation and underlying liquidity is precisely the risk Anthropic is flagging: speculative token prices can shape investor expectations and headlines about valuations that the company has no ability to control.

Crypto lawyer John Montague has…