Charles Schwab has 48 million reasons to think it can crack private markets

Smith Collection/Getty Images Is the marketplace for pre-IPO stock about to have its breakout moment? In the runup to Anthropic and OpenAI’s expected IPOs, only a small cohort of well-heeled investors has enjoyed access to these hard-to-get stocks before they go public. That trade has centered exclusively on a clubby bunch of big institutions and high-net-worth clients of private wealth firms. But trading volume in pre-IPO shares via the growing secondary market pales in comparison to the turnov