Crypto Market Update: Anthropic Files for Nasdaq IPO

Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.

Here's a quick recap of the crypto landscape for Monday (October 26) as of 11:00 p.m. UTC.

• Bitcoin price update
• Bitcoin price chart
• Ether and altcoin price update
• Today's crypto news to know

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Bitcoin price update

Bitcoin (BTC) was priced at US$79,833.50, trading 0.8 percent lower over the past 24 hours.

Bitcoin price chart​

Ether and altcoin price update

• Ethereum (ETH)

  was priced at US$2,313.45, trading 1.4 percent lower over the last 24 hours.

• XRP (XRP)

  was priced at US$1.29, trading 0.5 percent lower over the past 24 hours.

• Solana (SOL)

  was trading at US$100.21, trading 1.3 percent lower over the past 24 hours.

​Today's crypto news to know

Read on for a round-up of the biggest crypto market news:

• Anthropic files for Nasdaq IPO under ticker “ANT”
• Strategy halts Bitcoin buying, spends US$205 million on STRC buyback
• Hong Kong taps Solana Company as strategic enterprise
• Bernstein forecasts Robinhood growth tied to event contracts
• S&P Dow Jones, Kalshi partner on prediction market benchmarks
• Aviva Investors, Ripple team up on tokenized cash fund mechanics

Anthropic files for Nasdaq IPO under ticker “ANT”

Anthropic, the developer of Claude, made its initial public offering (IPO) filing available on Monday, revealing H1 revenue of US$16.29 billion and a plan to list on the Nasdaq Global Select Market under the symbol “ANT.”

The company has not yet set the number of shares or a price range. Anthropic and existing shareholders will both sell stock, and the S-1 names Goldman Sachs (NYSE:GS) and Morgan Stanley (NYSE:MS) first among 24 underwriters.

The filing follows a confidential draft Anthropic submitted to the US Securities and Exchange Commission (SEC) in June. Reuters reported last month that backers were hoping for a valuation above US$2 trillion.

In May, Anthropic raised US$65 billion at a US$965 billion valuation.

The US$16.29 billion in revenue for the six months to June 30 compares with US$1.16 billion a year earlier. Full-year revenue reached US$4.59 billion in 2025, up from US$386 million in 2024 and US$41 million in 2023.

Anthropic booked a net loss of US$80.7 billion for the first half. A US$72.4 billion charge for changes in the fair value of convertible notes and other instruments accounted for most of it, and the filing says an increase in the company’s valuation primarily drove that charge. Anthropic's operating loss came to US$693 million.

As of June 30, the firm had raised US$141.1 billion in total and held US$112.4 billion in cash and cash equivalents, plus US$19.3 billion in short-term investments. As of September 30, more than 1,900 customers had each generated at least US$1 million in revenue over the previous 12 months, and about 250 had generated at least US$10 million.

Strategy halts Bitcoin buying, spends US$205 million on STRC buyback

Michael Saylor's Strategy (NASDAQ:MSTR) skipped its weekly Bitcoin purchase for the first time since mid-September, putting US$204.9 million into buying back its STRC preferred stock instead.

The company disclosed the buyback on Monday (October 26), and an SEC filing shows it also sold no shares through its at-the-market offering program between October 19 and 25. Strategy holds 848,517 BTC, which it bought for a combined US$64.02 billion at an average of US$75,446 per coin.

The company's recent Bitcoin purchases have been small.

Strategy bought 267 BTC for US$22.1 million the previous week and 250 BTC for US$21.5 million the week before that. The company spent US$29 million in the week it reported a US$21 billion third quarter gain.

The STRC repurchase covered 2,068,459 shares, topping the US$193.1 million and US$192.4 million that Strategy spent in the two prior weeks. Strategy paid for it entirely with USD Cash, its general purpose pool that also funds Bitcoin purchases. That balance fell to US$242.4 million from US$447.3 million a week earlier.

Its separate USD Reserve, which covers preferred dividends and debt interest, held at US$4.83 billion. Strategy raised its preferred stock buyback program to US$3 billion from US$2 billion a week ago, and US$956.8 million remains available. A separate program for MSTR common stock has US$1 billion left.

The pause comes as Strategy faces possible removal from MSCI's (NYSE:MSCI) equity indexes. On October 15, MSCI finalized a rule that bars “non-operating companies,” those whose balance sheets are dominated by a single asset, from its Global Investable Market Indexes from the close of November 30.

MSCI will publish the list of affected companies on November 11.

Hong Kong taps Solana Company as strategic enterprise

Hong Kong has named Solana Company a strategic enterprise, and the digital asset firm will run its Asia-Pacific business from the city. The company said on October 22 that it is the only blockchain infrastructure firm that the Office for Attracting Strategic Enterprises (OASES) has onboarded in 2026. It joins OASES’ seventh batch of strategic enterprises, which the office unveiled at a signing ceremony in Hong Kong that day. The Hong Kong government set up OASES in 2022 to attract companies of strategic importance and has brought in more than 140 firms so far.

The designation for Solana Company lands weeks after Hong Kong set a goal in its First Five-Year Plan to establish a “world-leading licensing and regulatory regime for digital assets.” The company placed it alongside the city’s other digital asset initiatives, including the Stablecoins Ordinance, the Hong Kong Monetary Authority’s Project Ensemble on tokenization and the trading of regulated stablecoins on licensed virtual asset platforms.

Solana Company has opened a Hong Kong office that will serve as its headquarters and as the base for its executive team to lead Asia-Pacific operations. Under its Pacific Backbone initiative, it plans to set up validator operations in the city, which it says will give Hong Kong a larger role in operating the Solana network.

Bernstein forecasts Robinhood growth tied to event contracts

Bernstein analysts estimate that Robinhood's (NASDAQ:HOOD) event contract revenue will surge from around US$650 million in 2026 to US$1.7 billion by 2028, accounting for roughly 18 percent of the retail-focused trading platform’s projected US$9.4 billion overall revenue and surpassing the forecast revenue of US$1.6 billion.

The forecast was released ahead of Robinhood’s third quarter earnings report. Bernstein estimates that the firm's Q3 quarterly revenue will rise 13 percent from the previous quarter to roughly US$1.5 billion, driven by rising volumes across regular stock trading, options, event contracts and recovering crypto trading.

Bernstein is maintaining a US$160 price target on Robinhood while raising annual revenue estimates by 3 percent for 2026, 4 percent for 2027 and 3 percent for 2028. Despite the positive outlook, the stock traded lower in premarket activity on Monday and closed at US$92.84, marking a year-to-date decline of over 17 percent.

S&P Dow Jones, Kalshi partner on prediction market benchmarks

S&P Dow Jones Indices and Kalshi announced a strategic partnership that will see Kalshi become a preferred platform licensed to create event contracts directly tied to S&P Dow Jones benchmarks.

Instead of resolving bets through ambiguous sources or disputes, contracts will officially settle against S&P Dow Jones' published index numbers. S&P Dow Jones will become a preferred builder of new market indexes that use Kalshi's trading data to track collective market sentiment across economics, politics and sports.

According to Kalshi leadership, the integration of gold standard benchmarks is designed to attract institutional capital alongside its retail base.

Aviva Investors, Ripple team up on tokenized cash fund mechanics

British asset manager Aviva Investors is collaborating with Ripple to launch digital, blockchain-based shares of its 22 billion pound flagship fund to give institutions faster, around-the-clock access to their cash.

The project will digitize shares of the Aviva Investors Sterling (GBP) Liquidity Fund, which holds high-quality, short-term British pound debt instruments to function like a high-yield, low-risk cash holding.

According to the announcement, Aviva backed the rollout with a 50 million pound direct investment into this new tokenized share class. Combined with its previously tokenized US Dollar Liquidity Fund, launched in July 2026, Aviva manages over 86 million pounds across tokenized money market funds.

The fund operates as an Ireland-domiciled UCITS fund. The blockchain component creates a digital layer where ownership can be logged on-chain while keeping existing off-chain legal, regulatory and investor protections intact.

XRP Ledger will be used to issue and transfer fund shares rapidly at minimal transaction fees. Underlying fund assets remain guarded by traditional custodian BNY Mellon (NYSE:BK).

Crypto custodian Komainu will manage institutional digital wallets, and platform provider Licuido will supply the software infrastructure for issuing and tracking the shares.

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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.