Unitree | Crypto

A Hyperliquid perp priced Unitree far above its IPO valuation before Shanghai trading began, but the robot maker’s first public trade still opened roughly 75% above crypto traders’ implied price.

The additions come as Bybit’s TradFi perpetuals lineup grows to more than 200 products spanning equities, ETFs, commodities, indices and private companies. Dubai-based crypto exchange crypto exchange Bybit has launched pre-IPO perpetual contracts tied to Chinese robotics firm Unitree and artificial intelligence startup Moonshot AI, expanding its push into private-market trading. The USDT-denominated and settled contracts give traders price exposure without ownership of the underlying shares. Bybit said its TradFi perpetuals lineup has grown to more than 200 products since launching in April, spanning equities, ETFs, commodities, indices and pre-IPO companies. Unitree received approval from China’s securities regulator in July for an initial public offering on Shanghai’s STAR Market. The perpetual gives traders exposure to the robotics company before its shares begin trading publicly. Read more

Hyperliquid traders value Unitree at nearly $38 billion versus $9 billion at its IPO, leaving leveraged bets vulnerable when trading begins, Allium analysts said.