Wall Street's new ETF is gaining momentum! The public can also easily "get on board" with the new AI darling Anthropic.

On one hand, Wall Street is fervently embracing AI trading, while on the other hand, it is pushing private equity assets towards the general public. Now, an ETF is closely connecting these two major trends. KraneShares stated that one of its exchange-traded funds (ETFs) currently holds shares of Anthropic, a competitor of OpenAI that recently raised funds with a valuation exceeding $60 billion. Apart from the largest institutions and professional venture capital firms, other investors were essentially unable to participate in the recent fundraising. However, including Anthropic in the ETF means that even the smallest investors can now access this AI startup - albeit with conditions. According to data compiled by Bloomberg, the KraneShares Artificial Intelligence and Technology ETF (AGIX) currently has less than 5% of its funds invested in Anthropic. Due to regulations on the proportion of illiquid assets that open-trading tools can invest in, this ratio will never exceed 15%. The fund's size is also relatively small, currently less than $25 million. According to David Cohne of Bloomberg Intelligence, AGIX is only the second U.S.-listed ETF that directly holds private equity securities. The first is another AI fund - the ALAI Enablers & Adopters ETF (ALAI) with a size of $32 million which holds shares of SB Technology Inc. While other funds also offer non-listed investments, this is typically achieved indirectly through replication strategies or special purpose tools. This is because there is a significant liquidity gap between publicly traded ETFs and private equity assets, with the latter's stocks often changing hands infrequently. KraneShares stated that it has resolved the liquidity mismatch issue between AGIX and non-listed company shares (such as Anthropic's shares) by internally establishing a Fair Market Value Committee that determines the value of these assets daily. Cohne stated that direct investment may lower costs and increase transparency. He mentioned that, in any case, "we will continue to see more ETFs investing in private equity assets, whether through direct investments or special purpose vehicles - people are definitely interested in this." The ERShares Private-Public Crossover ETF (XOVR) with a size of $314 million has recently attracted inflows, indicating a strong demand for such investments. The fund has been purchasing shares of Elon Musk's SpaceX through special purpose investment tools and has earned $130 million in 2025. AGIX was established last year and invests in companies developing and applying AI, including the hardware and infrastructure behind this technology. Derek Yan, senior investment strategist at KraneShares, stated that direct investment in the fund is "a better way - it is simple, transparent." Yan mentioned that KraneShares is also in discussions with other unlisted AI companies to include them in the ETF. However, the company plans to maintain the overall exposure to private equity assets at around 15%.