Anthropic IPO: How to buy ANT in Canada

Anthropic is expected to go public. Here's how to trade it.

Anthropic (ANT) is preparing to hit the market with an estimated valuation ranging from $1.5 trillion to $2 trillion USD (opens in a new tab), making this potentially one of the largest IPOs ever to hit the Nasdaq. The final per-share price will be determined prior to listing following the effective S-1 registration statement (opens in a new tab). 

If you've been waiting to own a piece of the builder behind Claude, here is what you can expect.

When can you start trading ANT and ANT.TO?

Nasdaq opens at 9:30 a.m. ET, but ANT will take a little longer to begin active trading on listing day.

Before a newly listed stock starts trading, the exchange and underwriters run through price discovery to  match real buy and sell orders to set an opening price. For an IPO of this scale, that process typically wraps up late morning to early afternoon.

Starting at 4:00 am ET on listing day, you can submit orders for ANT. Questrade will only accept limit orders until the stock officially begins trading. Once public trading goes live, all other order types become available.

At launch, Anthropic is only listing on the US Nasdaq under the ticker ANT, meaning a Canadian equivalent like ANT.TO may not be available on IPO day. 

When will ANT options be available?

Options on newly listed stocks typically become available 3 to 14 days after listing, once the exchange sets strike prices and builds out contract series. For a listing this high-profile, expect it on the quicker end of that range.

Can you short sell ANT right away?

Short selling depends on share borrow availability and is not guaranteed. Shares generally need to be available to borrow before a short sale can be placed, which may not be possible when trading first begins, and availability can vary by security and over time. Alternatively, you can trade options once contracts are available.

Are Fractional ANT shares available?

Fractional ANT shares become available once the stock officially begins regular market trading. Limit orders can be placed as early as 4:00 am ET on listing day, and we'll support fractional trading once the market is live.

Will ANT be added to major indices like the Nasdaq-100 and S&P 500?

Generally, companies must meet minimum criteria (including market capitalization, liquidity, and pricing thresholds) to be included into major indices.

Newly public companies may be evaluated for indices like the Nasdaq-100 and FTSE Russell indices following its listing, subject to market conditions and eligibility timelines. If you hold ETFs tracking those indices, such as QQQ or a Russell 3000 fund, you may gain indirect ANT exposure assuming the stock meets all necessary market capitalization and pricing requirements for fast-track index inclusion.

Inclusion in the S&P 500 typically takes longer. The S&P 500 requires four consecutive quarters of profitability under GAAP accounting, alongside minimum market capitalization and float thresholds. Consequently, Anthropic may not be eligible for S&P 500 consideration until several quarters post-listing at the earliest.

Want to invest in artificial intelligence (AI) on your own terms?

Buying ANT shares directly is one way in. With Custom Indexing, you can control your exposure on an index level, too. While traditional market-cap ETFs force automatic index inclusions, a Custom Index puts you in control of what stays in or out.

Choose from a library of broad-market or thematic index templates, including ones focused on AI and technology stocks, and make it your own. Adjust sectors. Add or cut stocks. Own it all with $0 trading commissions or management fees.

A note on day-one price movement

IPO day prices can move quickly as the market establishes an opening price. Please be aware that limit orders are required prior to the IPO starting to trade and during any trading halts. Once the stock begins trading market orders will be accepted.

IPO vs. Pre-IPO: what's the difference?

When Anthropic officially begins public trading, that's the IPO. The company lists on a public exchange, a price is set by the market, and anyone with a brokerage account can buy and sell shares.

Pre-IPO is a different game entirely. It means owning a piece of the company while it’s still private—getting in before the hype, the ticker, and the daily price swings. You’re positioning yourself at the ground floor of a company’s growth trajectory, often before it hits the mainstream public exchanges.

That early access comes with trade-offs. Private shares are less liquid than public stocks, meaning they’re harder to trade on a whim. They're built for longer-term investment horizons rather than quick daily trades. And since there’s no live market signal, you’re relying on your own conviction rather than a ticker tape to value the company. It’s a higher-conviction, longer-term play.

Please note: Anthropic shares are not available for Pre-IPO purchase on Questrade and can only be traded once official public listing begins.

Want to invest in private growth before listing day? Access other late-stage private companies through Pre-IPO at Questrade.