Svmuu News: Cathie Wood's ARK Investment Management plans to include OpenAI in three of its ETFs: the ARK Innovation ETF (ARKK), the ARK Fintech Innovation ETF (ARKF), and the ARK Next Generation Internet ETF (ARKW). Each fund's allocation to OpenAI is approximately 3%, with a combined holding size of about $240 million.
Bloomberg ETF analyst Eric Balchunas stated this is the fourth ETF to include exposure to a private company like OpenAI, and it won't be the last, highlighting the continued strong demand from retail investors for allocations to popular unlisted tech companies. Previously, ARK only held OpenAI in its closed-end venture fund (ARK Venture Fund). This marks the first time it is offering exposure to an unlisted AI leader to ordinary investors through publicly traded ETFs. (Bloomberg)