Plans to launch Space ETF after dominating with Kathy Wood ARKK


After a stratospheric year, Kathy Wood’s Ark Investment Management is ready to take it one step further: into space.

The New York-based firm plans to launch the ARK Space Exploration ETF (ticker ARKX), according to a filing with the Securities and Exchange Commission. The actively managed exchange-traded fund will primarily track American and global companies engaged in space exploration and innovation.

After large-scale flows over the past year, the once-niche firm now invests about $ 41.5 billion in ETF products, compared to $ 3.5 billion in the same period in 2020, according to data compiled by Bloomberg. Arc recently built Top-10 ETF issuer, thanks in large part to its $ 21.6 billion flagship Arc Innovation ETF (ARKK). Tesla Inc. It has the largest holding. While passively tracks most of the huge stock of ETFs, Arc offers five actively managed US ETFs, and Wood runs them all.

After the close of regular trading, the Richard Branson-founded company Virgin Galactic Holdings Inc. rose 6%.

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