Those Who Can't Buy Anthropic Are Driving Its Shadow Stock to 16 Times Its Value
A new closed-end fund, VCX, listed on the NYSE, saw its share price surge to 16 times its net asset value due to high demand for exposure to Anthropic, which holds a 21% stake in the fund. Anthropic, recently valued at $380 billion in a private funding round, is not publicly traded, making VCX one of the few ways for retail investors to gain indirect access. The fund's limited liquidity, with most shares locked until September, amplified buying pressure. Similar funds without significant Anthropic or OpenAI stakes performed poorly, highlighting that the frenzy is specifically tied to AI-related FOMO. However, the premium is considered temporary, as it may vanish once Anthropic and other held companies like SpaceX go public, expected in 2026-2027. The phenomenon reflects broader investor anxiety about missing out on transformative AI companies that are reshaping industries while remaining private longer.
marsbit03/25 08:05
