Crypto platforms Ventuals and PreStocks are enabling retail investors to speculate on the valuations of private AI companies like Anthropic and OpenAI through blockchain-based trading products. These platforms offer perpetual contracts and SPV tokens, allowing investors to trade on valuation changes without owning actual equity. Anthropic's implied valuation on these platforms has reached $1.6 trillion, highlighting the financialization of private market assets traditionally reserved for institutional investors. Despite the appeal of real-time trading and leverage, these products carry significant risks as they do not confer actual shareholder rights. Ventuals, backed by Paradigm, allows trading through perpetual futures, while PreStocks uses SPV tokens to mimic equity exposure. However, companies like Anthropic have warned that such structures may lack legal validity. The trend reflects a broader shift in crypto infrastructure, repurposing it for real-world asset speculation beyond digital tokens.