Anthropic has no public ticker, but Green has a workaround

Anthropic is still a private company, which means there is no way to buy its stock directly through a brokerage the way you would buy Apple or Microsoft. Alexander Green, chief investment strategist at The Oxford Club, has a workaround, and it is the core of his “Secret Backdoor to the REAL #1 Tech IPO of 2026” pitch in The Oxford Communiqué. Instead of waiting for the IPO, he points investors to two funds that already hold Anthropic shares: Fundrise Venture and Ark Venture.

Fundrise Venture trades under the ticker VCX, and Ark Venture trades under the ticker ARKVX. Both are the liquid proxies Green uses to sell the idea that retail investors can own a piece of Anthropic, which he calls “far and away the best AI on the face of the planet,” before the company goes public.

Fundrise Venture (VCX): the biggest Anthropic holder

Fundrise Venture is the Fundrise Innovation Fund, a closed-end fund that listed on March 19, 2026 at roughly $19 net asset value. Its top holdings are Anthropic, Databricks, and OpenAI, and Anthropic is by far the biggest of the three. Because it is a closed-end fund, VCX trades on an exchange like a stock, which means any investor with a brokerage account can buy it, and its price floats independently of its net asset value.

That floating price is where the complications start. The fund’s net asset value is now estimated at $25 to $30, but the shares trade around $41, which means buyers are paying a 30 to 40 percent premium. Earlier this spring the shares touched $200, roughly ten times NAV, before lockup expirations pulled them back down. Paying $41 for $28 of underlying value is a real cost, and closed-end fund premiums have a way of compressing when the excitement fades. Our valuation breakdown runs the numbers in detail.

Ark Venture (ARKVX): a more honestly priced alternative

Ark Venture is Cathie Wood’s closed-end interval fund, and it holds Anthropic alongside SpaceX, OpenAI, and a broader basket of private technology companies. Anthropic is roughly 4.3 percent of the fund, its fourth-largest position, with OpenAI actually larger. The key difference from VCX is pricing. ARKVX prices at net asset value rather than at a market premium, so you are not paying extra for the privilege of entry.

The trade-off is friction. ARKVX carries a 2.9 percent annual fee, a $500 minimum investment, and quarterly redemption caps of 5 percent, which means you cannot always get your money out when you want it. It is more honestly priced than VCX but less flexible. For more on that fund specifically, see our Ark Venture Fund explainer.

The bottom line on the backdoor

Green’s backdoor is real in the sense that both funds do hold Anthropic and both are accessible to retail investors. The honest caveat is that neither is a clean way to own Anthropic alone. VCX makes you pay a premium, and ARKVX bundles Anthropic with a lot of other companies while charging a high fee. Both are legitimate vehicles, but the price and the structure matter just as much as the underlying asset. Our piece on whether Anthropic is public yet covers the timeline that determines when a direct ticker finally appears.

The wider field of backdoor vehicles

VCX and ARKVX are the two funds Green leads with, but they are not the only tickets. SK Telecom, the Korean carrier trading as SKM, holds an Anthropic stake it bought for roughly $100 million that may now be worth more than $2 billion, which makes it an indirect play with a telecom business attached. The Destiny Tech100 Fund, trading as DXYZ, and the KraneShares Public-Private AI & Technology ETF, under the ticker AGIX with about 2 percent in Anthropic, round out the smaller options. The Private Shares Fund, trading as PRIVX, is another interval fund with private-company exposure. Every one of these carries a different mix of premium, fee, and dilution, so the backdoor is really a hallway with several doors.

How the premium behaves around an IPO

Closed-end fund premiums are not static, and they tend to be most extreme right before a catalyst. The $200 print on VCX this spring, roughly ten times NAV, is what a premium looks like when enthusiasm runs ahead of fundamentals. Once an IPO is actually announced, the scarcity that drove that premium can fade even as the underlying asset gains value, which is the scenario where a strong IPO still leaves proxy holders flat. Understanding that dynamic is more useful than tracking the exact premium on any given day.

The practical takeaway

Green’s backdoor is a real, workable idea, and both funds do hold Anthropic. The honest difference between them is that VCX asks you to pay a premium while ARKVX asks you to pay fees and accept limits. An investor who wants this exposure should decide which cost they would rather bear, and then size the position small enough that a premium compression does not hurt. The underlying company’s growth can be exactly as advertised and the wrapper can still deliver a mediocre result if you overpaid for it.

Ready to see the research? Click here to access Alexander Green’s report.

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