Ondo Finance announced an exclusive OpenAI pre-IPO offering, with the ONDO token rising more than 2% on Monday. The move comes as OpenAI delays its public listing while competitor Anthropic advances its IPO plans.
Ondo Launches OpenAI Private Market Note
Ondo Finance opened subscriptions for its OpenAI Private Market Note (OPAIPon) during the week of November 2, with the offering running for two weeks and available exclusively to eligible Ondo Private Clients. Participation requires registration through Ondo's Private Client program, though the company did not disclose minimum investment criteria or total allocation limits.
The offering builds on Ondo's private markets platform launched earlier in November, which provides tokenized exposure to private AI businesses. The tokens offer 24/7 secondary trading on Ondo Perps and allow eligible investors to subscribe directly to the platform.
Ondo notes that the tokens do not represent shares, voting rights, or dividend claims and are not offered to U.S. persons.
OpenAI IPO Timeline Uncertain
OpenAI CEO Sam Altman decided to exclude a 2026 public listing, calling it an ill-advised moment to go public in a September interview. OpenAI may now target a 2027 listing, though no official date has been announced.
Meanwhile, Anthropic filed its IPO prospectus with the SEC on Monday, seeking to list on Nasdaq under the ticker ANT, positioning itself ahead of OpenAI in the public listing race.
Token Gains and Business Expansion
ONDO traded near $0.417 on Monday, gaining 2.3% over 24 hours. The token reached an intra-day high of $0.4231 before pulling back. Over longer periods, ONDO declined 22% in the last 30 days and 4% over the past week.
The announcement reflects Ondo's expanding private markets business. The company recently surpassed $30 million in total value locked across seven investment portfolios covering income, growth, and thematic strategies, following its partnership with BlackRock to launch tokenized investment portfolios.
