Leverage Shares by Themes has three exchange-traded funds on Anthropic stock, with effective prospectuses dated October 27, 2026: ANUU, ANDD and ANSS. All three are set to list on Cboe BZX and can begin trading only after Anthropic, the company behind Claude, lists its Class A shares on Nasdaq under the ticker ANT.
| Ticker | Fund | Daily target, before fees and expenses | Expense ratio |
|---|---|---|---|
| ANUU | Leverage Shares 2x Long Anthropic Daily ETF | 2x (200%) of ANT's daily return | 0.75% |
| ANDD | Leverage Shares 2x Short Anthropic Daily ETF | -2x (-200%) of ANT's daily return | 0.75% |
| ANSS | Leverage Shares 1x Short Anthropic Daily ETF | -1x (-100%) of ANT's daily return | 0.99% |
Anthropic launched the roadshow for its initial public offering on November 10, 2026. It is offering 825 million Class A shares at an expected $70 to $78 each, or $57.75 billion to $64.35 billion across the range, and has applied to list on the Nasdaq Global Select Market. The IPO website Anthropic filed with the SEC on November 12 says the price is expected to be set on November 18 and trading is expected to begin on November 19 (EST).
The amended registration statement of November 2 reports revenue of $33.2 billion for the first nine months of 2026, up from $2.5 billion a year earlier. It also reports a net loss of about $104 billion for the period, most of it from non-cash changes in the fair value of convertible notes and related instruments, and $895.4 billion of purchase and lease commitments, mostly for compute and infrastructure. A November 10 amendment adds a $26.0 billion private placement of Class N stock at the IPO price with AMD, Broadcom, Google, Micron, Microsoft, NVIDIA and TSMC.
The final price can still be set inside, above or below the range, and the dates can move. Once ANT trades, the stock gets a daily price that reacts to Anthropic's model releases, compute deals and quarterly results.
How do ANUU, ANDD and ANSS work?
Each fund seeks a multiple of ANT's return for a single day and then resets. If ANT rises 5% in a day, ANUU seeks about +10%, ANDD about -10% and ANSS about -5%, before fees and expenses. Over longer periods the daily results compound, so the outcome depends on the path the stock takes and can differ significantly from 2x, -2x or -1x of ANT's return.
| Scenario, before fees and expenses | ANT | ANUU | ANDD | ANSS |
|---|---|---|---|---|
| One day, ANT up 5% | +5.0% | about +10.0% | about -10.0% | about -5.0% |
| One day, ANT down 5% | -5.0% | about -10.0% | about +10.0% | about +5.0% |
| Two days, ANT up 10% then down 10% | -1.0% | about -4.0% | about -4.0% | about -1.0% |
Why this matters
A listed ANT gives the AI industry a daily public price for one of the largest model developers. For people who follow Claude releases and compute deals, ANUU, ANDD and ANSS add a way to act on a one-day view, long or short, without a margin account. The trade-off is daily compounding, which makes them tools for short holding periods rather than a way to own Anthropic.
Frequently asked questions
What are ANUU, ANDD and ANSS?
ANUU, ANDD and ANSS are the tickers of three Leverage Shares by Themes ETFs on Anthropic stock (ANT). ANUU, the Leverage Shares 2x Long Anthropic Daily ETF, seeks 2x the daily return of ANT. ANDD, the Leverage Shares 2x Short Anthropic Daily ETF, seeks -2x. ANSS, the Leverage Shares 1x Short Anthropic Daily ETF, seeks -1x. All targets apply to one day, before fees and expenses, and the expense ratios are 0.75%, 0.75% and 0.99%.
When can ANUU, ANDD and ANSS start trading?
The three funds can begin trading on Cboe BZX only after Anthropic's Class A shares are listed on Nasdaq under ANT. Their prospectuses became effective on October 27, 2026. As of November 13, 2026, Anthropic's IPO website expects pricing on November 18 and the first day of trading in ANT on November 19 (EST). The fund product pages show the trading status of each ETF.
Is ANUU Anthropic's stock ticker?
No. Anthropic's Class A shares are to trade on Nasdaq under ANT. ANUU, ANDD and ANSS are the tickers of Leverage Shares ETFs that seek a daily multiple of ANT's return. Buying one of these ETFs does not make an investor an Anthropic shareholder and carries no voting rights in Anthropic. Leverage Shares is not affiliated with Anthropic.
Sources: Anthropic, IPO roadshow announcement, November 10, 2026; Anthropic, PBC, Form S-1/A, November 2 and November 10, 2026 (SEC EDGAR); Anthropic, PBC, free writing prospectus (IPO website), November 12, 2026 (SEC EDGAR); Themes ETF Trust, prospectuses for ANUU, ANDD and ANSS, October 27, 2026.
ANUU, ANDD and ANSS seek daily investment results and are intended for short-term use. Returns over periods longer than one day can differ significantly from 2x, -2x or -1x of Anthropic's return. Leveraged and inverse funds carry significant risk and are not suitable for all investors. Read the prospectus before investing. Leverage Shares is not affiliated with Anthropic.
Anthropic IPO roadshow announcement · Anthropic IPO prospectus · Themes ETF Trust prospectus
Disclosure: LabForty is a technology partner of Leverage Shares.
This article is for informational purposes only and is not investment advice.
This article is not legal advice.
