Bybit Brings Pre-IPO Futures Trading to Unitree and Moonshot AI
Bybit has introduced pre-IPO futures trading for Unitree and Moonshot AI, allowing market participants to speculate on their anticipated valuations ahead of their public market debut. The move brings Bybit's traditional finance derivatives portfolio past 200 instruments.
The pre-market perpetual instruments on Hyperliquid are pricing Unitree shares at approximately $93, surpassing the Shanghai IPO listing price of $22.37 by over 300%. This suggests an aggregate company worth approaching $38 billion, exceeding the formal IPO assessment by more than fourfold.
According to Allium's research team, a robust market debut at $45 could trigger liquidations for approximately one-third of leveraged long traders. Conversely, a market debut at $128 could eliminate roughly 53% of short-side positions. However, widespread liquidations would only be avoided if actual market prices align closely with the $92-$94 range reflected in perpetual contracts.
Unitree's public offering attracted oversubscription levels reaching 8,000x among retail investors, with shares expected to begin trading between August 17-21. Bybit has also introduced pre-IPO perpetual derivatives for Moonshot AI as part of its expanding traditional finance perpetuals catalog.