June 7, 2026 · BriMindInvest Research Team · 10 min read
Two of the most consequential companies in tech history are weeks from going public. Here's exactly which publicly traded ETFs and funds already own them — and which is right for you.
On June 1, 2026, Anthropic confidentially filed its S-1 with the SEC at a $965 billion post-money valuation — topping OpenAI's own confidential S-1 filing from May 22, 2026, which targets a valuation of $852 billion to $1 trillion. Both IPOs are expected as early as Q4 2026.
For retail investors who can't buy pre-IPO shares directly, a small but growing set of publicly traded funds already hold stakes in one or both companies. The window to get in at pre-IPO prices via these vehicles is closing fast.
| Anthropic | OpenAI | |
|---|---|---|
| Current Valuation | $965 billion | $852 billion |
| Revenue Run Rate | $47B (May 2026) | ~$25B (Mar 2026) |
| IPO Status | Confidential S-1 filed Jun 1, 2026 | Confidential S-1 filed May 22, 2026 |
| Expected IPO | Fall 2026 | Sept–Q4 2026 |
| Key Backers | Google, Amazon, Spark Capital | Microsoft, Thrive Capital, SoftBank |
The only traditional open-end ETF with material direct Anthropic exposure (~2.76% of AUM). AGIX holds Anthropic via a special purpose vehicle (SPV) alongside Nvidia (4.74%), Alphabet (3.61%), Microsoft (3.43%), and SpaceX. The 0.99% fee is the premium for private-market access in a daily-liquidity ETF wrapper. When Anthropic IPOs, those private shares convert to publicly tradeable stock within the fund.
KraneShares has attributed over 10% of excess returns since adding Anthropic and xAI to the portfolio, making the fund one of the best-performing AI ETFs of 2026. Other private holdings include SpaceX and Nuro (autonomous vehicles).
On March 31, 2026, ARK Invest purchased $175M of OpenAI shares in ARKK (~254,476 shares, ~3% of portfolio) as part of a $240M cross-fund deployment. ARKK is Cathie Wood's flagship disruptive innovation fund. While OpenAI is a meaningful addition, it sits alongside volatile holdings like Tesla, Coinbase, and Roku. Best for investors who already have an appetite for ARK's high-conviction, high-volatility style.
ARKW received $43M of the March 31 OpenAI allocation (~62,528 shares, ~3% of portfolio). Focused on internet infrastructure, Web3, and cloud-native businesses, OpenAI is a better thematic fit in ARKW than in ARKK. The 0.88% expense ratio is slightly higher than ARKK's 0.75%, but the portfolio cohesion is stronger for investors focused on internet-era AI winners.
ARKF received ~$22M of OpenAI shares (31,991 shares, ~3% of portfolio). Focused on fintech and blockchain, the OpenAI thesis here is AI's transformative impact on financial services. The smallest of ARK's three OpenAI positions — best for investors who already hold ARKF and want the OpenAI kicker without buying another fund.
ARKVX holds the deepest combined exposure: OpenAI at ~9.3% of fund (total position boosted to $250M) and Anthropic at ~2.96% (added July 2023). Also holds SpaceX and Databricks. The critical constraint: ARKVX is an interval fund that only allows redemptions quarterly, in limited windows. It is not exchange-traded. Suitable exclusively for long-term investors with no near-term liquidity needs.
DXYZ holds a basket of the hottest pre-IPO names including OpenAI, Anthropic ($100M+ position added Feb 2026), SpaceX, xAI, Databricks, and Shield AI. Impressive on paper — but DXYZ frequently trades at a massive premium to its net asset value (sometimes 200–400% above actual holdings). You can be right about the underlying companies and still lose money if the premium compresses. Strictly for sophisticated investors who actively monitor the NAV premium.
BlackRock's BSTZ holds Anthropic alongside a mix of public and private technology investments. As a term trust with a 2031 end date managed by the world's largest asset manager, BSTZ offers institutional-grade risk management and typically trades at smaller premiums/discounts to NAV than DXYZ. Best for investors who want professional oversight and a lower-drama structure than pure-play closed-end funds.
| Metric | AGIX | ARKK / ARKW / ARKF | ARKVX | DXYZ |
|---|---|---|---|---|
| Anthropic exposure | ~2.76% | None | ~2.96% | Large (~$100M+) |
| OpenAI exposure | None | ~3% each | ~9.3% | Yes (undisclosed %) |
| Fund type | Open-end ETF | Open-end ETF | Interval Fund | Closed-end Fund |
| Expense ratio | 0.99% | 0.75–0.88% | ~1.5% | Varies |
| Daily liquidity | Yes | Yes | No (quarterly) | Yes (NAV risk) |
| NAV premium risk | Low | Low | Low | HIGH (200–400%+) |
| 2026 YTD | +17% | ~-12% / Apr +12.1% | N/A | NAV +210% FY2025 |
| Best for | Anthropic, clean structure | OpenAI + ARK themes | Both companies, long-term | Max exposure, high risk |
Standard ETF, daily liquidity, most transparent Anthropic exposure of any open-end fund. The +17% YTD speaks for itself. Yes, 0.99% is steep for an ETF, but it's the price of private-market access in a clean wrapper.
ARKK gives you the largest absolute OpenAI position ($175M). ARKW is the better thematic fit for internet-native AI. Both carry ARK's signature high-volatility DNA — not for the faint of heart, but the only daily-liquidity ETF path to OpenAI today.
ARKVX holds the deepest stakes in both companies but requires quarterly redemptions. If you need daily liquidity, split your position: AGIX for Anthropic, ARKK or ARKW for OpenAI.
DXYZ holds the most concentrated pre-IPO basket. But only buy when the premium to NAV is at a historically reasonable level. When it trades at 300%+ over NAV, you're mostly paying for hype, not for exposure.
BlackRock's BSTZ offers professional risk management with a stated 2031 term. AGIX, with Nvidia/Alphabet/Microsoft as core holdings alongside Anthropic, provides a balanced blend of AI infrastructure stability and private market upside.
Once Anthropic and OpenAI IPO — both expected Fall/Q4 2026 — the entire dynamic shifts:
The window to establish a position through these vehicles at pre-IPO-conversion prices is closing fast. Once the S-1s go effective and roadshows begin, the pre-IPO pricing advantage narrows.
The IPO changes the investment calculus dramatically. Here is exactly what to consider for each fund when both companies list publicly:
Compare AI stocks side by side, track AI-focused themes, and get AI scores for every major name in the sector.
Get AI prediction signals, unlimited stock comparisons, portfolio analytics, and personalized watchlists — free for 14 days, no credit card required.
14-day free trial · No credit card required · Cancel anytime
We use cookies to keep you signed in and to understand how people use our site (Google Analytics). You can accept all cookies or limit them to what's strictly necessary. Privacy policy