Bybit trades shares of non-existent companies via derivatives

Bybit launches trading in non-existent stocks

Cryptocurrency exchange Bybit has introduced perpetual contracts for Chinese robot manufacturer Unitree and AI startup Moonshot AI. These instruments allow investors to bet on the future quotes of private companies before they go public.

Unlike traditional stocks, buyers do not become owners of shares in the business. The contract is settled in USDT and tracks the price formed by the betting market itself. This creates a speculation mechanism based on expectations without being tied to the issuer's fundamental indicators.

Growth in supply of derivatives on private assets

Over four months since the launch of similar instruments, Bybit's portfolio has grown by more than 200 positions. It includes stocks, ETFs, commodities, indices, and instruments on non-public companies. The platform is actively expanding opportunities for trading assets not yet available to a wide range of investors.

Risks of the pre-IPO speculative market

The scheme allows prices to be formed based on market expectations before official trading begins. The lack of cost linkage to actual financial reports creates high volatility. Investors face risks typical of derivative financial instruments on immature markets.