{"title":"Private Tape / DXYZ Tape Lab","slug":"private-tape","productLanguage":"Private Tape: what Anthropic's private/pre-IPO tape and SpaceX's public 24/7 tape imply for DXYZ before the NYSE opens.","schemaVersion":"1.0.0","methodologyVersion":"0.1.2","staticConfigPath":"data/private-tape.json","schemaPath":"data/schema/private-tape.schema.json","endpoints":{"json":"/api/private-tape","manifest":"/api/private-tape/manifest","overnightCsv":"/api/private-tape?format=csv&dataset=overnight","rthCsv":"/api/private-tape?format=csv&dataset=rth"},"license":{"curatedData":"CC BY 4.0, to the extent applicable rights exist","code":"MIT","attribution":"stocks.bolewood.com"},"updatePolicy":{"curatedConfig":"Modeled assets, filed weights, source links, and methodology notes live in the open repo.","liveExports":"Aligned observations are generated at request time from Hyperliquid and Yahoo market data."},"liveMarketData":{"redistributedInRepo":false,"note":"Raw Hyperliquid candles, Yahoo candles, and live quotes are runtime inputs and are not committed to data/."},"usageBoundary":"Private Tape uses Entropy/Hyperliquid as observable market-data inputs only. It is not a recommendation to trade on, custody assets with, or rely on either venue.","returnConvention":{"type":"simple_return","formula":"end_price / start_price - 1","note":"Do not use raw price-level correlation for Private Tape analyses."},"modeledSleeve":{"asOf":"2026-03-31","dxyzFiledPortfolioValue":742500000,"totalFiledWeight":0.32499999999999996,"weights":{"anthropic":0.556923076923077,"spacex":0.4430769230769231},"note":"Private Tape models only DXYZ's filed Anthropic and SpaceX exposure. Anthropic is a private/pre-IPO tape; SpaceX is now a public SPCX tape whose DXYZ SPV read-through may lag public marks. This is not a full DXYZ NAV model.","marketStructureNote":"Anthropic remains a private/pre-IPO market input via Entropy/Hyperliquid. SpaceX began public trading under SPCX on Nasdaq on 2026-06-12, so xyz:SPCX is treated as a 24/7 public-equity/perp tape, not pre-IPO price discovery."},"datasets":[{"id":"json","label":"Full Private Tape payload","endpoint":"/api/private-tape","format":"json","includes":["config","marketStatus","cards","analyses","datasets"]},{"id":"overnight","label":"Overnight lead/lag samples","endpoint":"/api/private-tape?format=csv&dataset=overnight","format":"csv","grain":"one row per NYSE session with a prior close and next open","columns":["date","prior_date","start_et","end_et","dxyz_opening_gap","weighted_tape_return","anthropic_return","spacex_return","qqq_opening_gap","anthropic_start_at_et","anthropic_end_at_et","spacex_start_at_et","spacex_end_at_et"]},{"id":"rth","label":"Overlapping NYSE-hours return samples","endpoint":"/api/private-tape?format=csv&dataset=rth","format":"csv","grain":"30-minute returns where DXYZ, ANTH, SPCX, and optionally QQQ overlap","columns":["date","time_et","end_ms","dxyz_return","anthropic_return","spacex_return","qqq_return"]}],"analysisMinimums":{"correlationN":6,"overnightRegressionN":8,"residualRegressionN":20},"methodology":["Use simple returns consistently.","Compare DXYZ to the ANTH/SPCX tape only during overlapping NYSE cash-session windows.","For overnight lead/lag, use ANTH/SPCX tape prices closed at or before the prior DXYZ close and the next DXYZ open.","Normalize the two-asset tape sleeve and DXYZ to 100 at the first common close.","Regress DXYZ short-window returns on ANTH, SPCX, and QQQ before displaying the residual series."],"caveats":["ANTH is very new, so sample sizes may be tiny.","SPCX is now a public SpaceX equity ticker, so xyz:SPCX is not pre-IPO price discovery.","DXYZ's SpaceX exposure is held through SPVs and may not re-mark one-for-one with public SPCX because of conversion, lockup, timing, and vehicle mechanics.","Hyperliquid HIP-3 oracle/index methodology may incorporate external references and local market-price smoothing.","Entropy and Hyperliquid are trading infrastructure, not audited DXYZ NAV sources.","The page observes market prices; it does not recommend using Entropy, Hyperliquid, or any perpetual contract.","Perpetual-market volume is not equivalent to cash equity turnover.","No causal claim is made.","The two-asset modeled sleeve is not full DXYZ NAV, fair value, or a cheap/rich signal."],"sources":{"dxyzNport":"https://www.sec.gov/Archives/edgar/data/1843974/000089418926016628/xslFormNPORT-P_X01/primary_doc.xml","dxyz424b3":"https://www.sec.gov/Archives/edgar/data/1843974/000157587226000288/dxyz100_424b3.htm","hyperliquidInfoApi":"https://hyperliquid.gitbook.io/hyperliquid-docs/for-developers/api/info-endpoint","hyperliquidRobustPrices":"https://hyperliquid.gitbook.io/hyperliquid-docs/trading/robust-price-indices","hyperliquidHip3":"https://hyperliquid.gitbook.io/hyperliquid-docs/hyperliquid-improvement-proposals-hips/hip-3-builder-deployed-perpetuals","entropyAnthropicOracleNote":"https://defillama.com/rwa/asset/io%3AANTH","kucoinEntropyContext":"https://www.kucoin.com/news/flash/entropy-aims-to-replicate-trade-s-success-in-pre-ipo-market-competition","spacexIpoPricing":"https://ir.spacex.com/updates/releases-details/2026/Space-Exploration-Technologies-Corp--Announces-Pricing-of-Initial-Public-Offering/default.aspx","nasdaqSpacexListing":"https://m.nasdaqtrader.com/TraderNews.aspx?id=DTN2026-8"}}