ARK launches Space Exploration & Innovation ETF (ARKX) on Cboe BZX Exchange
ARK Investment Management (ARK), a New York-based investment adviser focused solely on thematic investing in disruptive innovation, has launched its new actively-managed ETF, the ARK Space Exploration & Innovation ETF (ARKX) on the Cboe BZX Exchange, effective Tuesday, 30 March, 2021.
ARKX provides exposure to domestic and foreign equity securities of companies that are engaged in the Fund's investment theme of Space Exploration and Innovation. ARK defines "Space Exploration" as leading, enabling, or benefitting from technologically enabled products and/or services that occur beyond the surface of the Earth. ARK believes that Space Exploration related companies can be grouped into four overarching categories, each of which contain relevant sub-elements: orbital aerospace companies; suborbital aerospace companies; enabling technologies companies; and aerospace beneficiary companies.
"We believe the space industry is primed for takeoff," says ARK's Founder, Chief Executive Officer and Chief Investment Officer, Cathie Wood. "Thanks to advancements in deep learning, mobile connectivity, sensors, 3D printing, and robotics, costs that have been ballooning for decades are beginning to decline. As a result, the number of satellite launches and rocket landings is proliferating. We believe that the orbital aerospace revenue opportunity alone– including satellite connectivity and hypersonic flight – will exceed USD370 billion annually."
"We are extremely proud to collaborate with ARK to bring their latest ground-breaking ETF to the market," says Laura Morrison, Senior Vice President and Global Head of Listings at Cboe Global Markets. "As ARK continues to drive forward the next wave of innovative investing, Cboe remains committed to providing them with the best-in-class listings services and market quality on our ETP marketplace to support their continued success."