Cathie Wood's space ETF to launch as soon next week as famed investment manager readies first fund since 2019
- Cathie Wood's latest ETF could launch as soon as next week based on regulatory filing dates.
- ARK Space Exploration would focus on companies involved in space exploration and innovation.
- ARKX filed on January 13, making March 29 the earliest date Ark could complete the SEC approval process, Bloomberg first reported.
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Cathie Wood's latest exchange-traded fund focused on investments in space exploration may lift off as soon as next week based on regulatory filing dates, marking the debut of the fund manager's first ETF since 2019.
ARK Space Exploration (ARKX), the newest fund from Ark Investment Management, would focus on companies involved in space exploration and innovation in the US and around the world.
Wood's ARKX filed on January 13, as first reported by Bloomberg, making March 29 the earliest date Ark could complete the Securities and Exchange Commission approval process barring any delays.
The arrival of ARKX comes alongside rising interest in space exploration among investors. Procure Space's UFO space-themed ETF has seen an 11% gain year-to-date. UFO said it's the world's first pure-play space ETF and holds Loral Space, Viasat, and Gilat, among others.
"We see that as validation that we were first to this pure-play space industry and providing investors with this global exposure," Andrew Chanin, CEO of Procure AM, told Insider. Chanin is behind the UFO space ETF, which launched in 2019.
Wood's last fund was launched two years ago, with the debut of ARK Fintech Innovation ETF, which focuses on financial technology innovation. It has had an incredible run thus far, jumping 150% in one year. Wood's flagship fund, ARK Innovation ETF, is also higher by 169% in the same period.
The space industry has gained traction in the past months as companies ranging from Elon Musk's SpaceX and Richard Branson's Virgin Galactic have made developments in their pursuits to go outer space.