DXYZ feels like the dumbest smart trade into the Anthropic IPO.
It owns ~14% Anthropic, plus OpenAI, and it’s still trading around its last reported NAV.
Meanwhile this thing has a history of going full regard and trading at gigantic premiums when private-tech hype hits.
You literally saw the exact same thing play out with SpaceX. Before the SpaceX IPO, DXYZ went absolutely feral and traded at a huge premium to NAV because people wanted private-tech exposure before they could buy the real thing.
So the bet is basically:
Anthropic S-1 drops → media cycle starts and everyone asks “HOW DO I BUY ANTHROPIC” → they find DXYZ → profit
Position: 800 shares DXYZ, 50x Dec 18 $40 Calls