Bybit has added pre-IPO perpetual contracts for Chinese robotics firm Unitree and AI startup Moonshot AI, pushing its TradFi perpetuals lineup past 200 products. The USDT-settled contracts let traders take leveraged positions on private-company valuations before any public listing, extending a trend already seen with SpaceX-linked contracts at rival exchanges.
Bybit has launched USDT-settled pre-IPO perpetual contracts tied to Unitree and Moonshot AI, giving traders price exposure to the two private companies without owning their shares. The additions bring Bybit's TradFi perpetuals lineup to more than 200 products spanning equities, ETFs, commodities, indices and pre-IPO companies since the category launched in April.
New tickers, no company involvement
The new contracts trade as UNITREEUSDT and MOONSHOTUSDT, and neither Unitree nor Moonshot AI has endorsed or is affiliated with them. Moonshot AI's contract went live around August 7, 2026, with up to 10x leverage available, while Unitree's contract arrived in the same wave of updates.
Unitree, a Chinese robotics firm, received approval from China's securities regulator in July for an initial public offering on Shanghai's STAR Market, and the perpetual gives traders exposure ahead of that listing. Moonshot AI, developer of the Kimi AI assistant, has reportedly seen its valuation triple in recent months on the back of rising revenue.
Part of a broader private-market push
The launch follows a broader push by crypto exchanges into private-market products. Binance, Coinbase, Kraken and others rolled out SpaceX-linked contracts ahead of the company's June listing, offering pre-IPO exposure through crypto-native derivatives.
Tokenized stocks are also gaining traction alongside these perpetuals. RWA.xyz data cited by Cointelegraph shows tokenized stocks have reached $2.38 billion in distributed value and 1.31 million holders, with holder count up 123.62% over the past 30 days.
Risk without a public price
Because private companies have no public market establishing a consensus valuation, Crypto Briefing notes that pre-IPO valuations are inherently uncertain, and pairing that uncertainty with 10x leverage raises the potential for outsized losses. Funding rates on the leveraged perpetual contracts can also erode positions during periods of one-sided positioning.
Sources: Cointelegraph, Crypto Briefing
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