ARK Investment Management is going to roll out new space ETF next week, based on ARKX’s SEC filling. Cathie Wood’s firm filed for the fund on January 13. Based on such a timeline, the Securities and Exchange Commission could complete the approval process and release the fund to investors as early as March 29.
The ETF will track the U.S. and global companies involved in space exploration and innovation. It will be the fund’s first product since the ARK Fintech Innovation ETF (ARKF) launched in 2019.
News of the fund drove an industry-wide rally earlier in 2021, with both peer ETFs and stocks like Virgin Galactic Holdings Inc. surging. Assets in the Procure Space ETF also more than tripled since ARK filed for ARKX.
Wood’s ETF assets soared to $47 billion in the last 12 months from just $3.3 billion. The flagship fund is also 154% up in the past year, and her products have generated $16.4 billion in 2021.
