Anthropic IPO: Actual Shares or Tokenized Exposure?

[Grey Camp]

I've been looking at the different ways to get exposure to Anthropic ahead of its IPO, and one thing is clear that ihave noticed is: not every platform offers the same thing. Some offer actual shares, while others offer exposure through digital tokens. That difference matters when it comes to what you own, the fees you pay and what you receive after allocation.

Two platforms worth comparing that i have noticed are Bitget and Gate.

What's the difference?
Bitget offers Anthropic IPO subscriptions through IPO Prime. Successful public-round participants receive rANT.
Minimum subscription: 100 USDT.
Maximum: 25,000 USDT.
Fee: 5% of the amount allocated.

Gate also accepts USDT subscriptions, but successful participants receive actual shares in their Gate Stock Accounts.
Minimum subscription: 100 USDT.
Maximum: 3 million USDT.
Fees: 5% on allocated amounts up to 50,000 USDT and 10% above that.

Why does this matter?

rANT is a digital token backed by Anthropic shares held in custody. However, holding rANT doesn't mean you own Anthropic shares directly. It also comes with no voting rights or direct dividends. Gate may appeal more to people who want actual shares. What makes Bitget interesting to me is that it offers IPO subscriptions alongside ANTHROPICUSDT perpetual trading. For people already using crypto, having both options on one platform is worth considering.
Interestingly, on a 1k USDT allocation, both platforms charge 50 USDT in fees.

Personally, I'd consider Bitget for crypto-based exposure, but Gate if I wanted actual shares.
Neither platform guarantees a full allocation, so it's important to understand the terms before committing.

Which would you choose: actual shares or rANT through Bitget?

Explore Bitget IPO Prime: IPO prime
It carries no voting rights or direct dividends. so its not a financial advice..

Edited 12 minutes ago by Grey Camp
correction