ARK Investment Management is ahead of Blackrock iShares in terms of flows into ETFs so far this year, according to Bloomberg data. The development comes as the firm, which is led by Cathie Wood, is seeking regulatory approval for an actively managed Space Exploration ETF (ARKX), which aims to invest in U.S. and foreign equities.
In the first two weeks of January, Vanguard’s ETF flows are $10.72 billion, StateStreet’s are $4.18 billion, ARK’s are $3.94 billion, and BlackRock’s are $3.89 billion.
“And ARK has officially passed BlackRock in YTD flows w/ $4b, which is a $500m/day pace (or $125b/yr). Maybe we should start calling it The Big Four lol.,” said Eric Balchunas, Bloomberg’s senior ETF analyst, in a tweet.
And ARK has officially passed BlackRock in YTD flows w/ $4b, which is a $500m/day pace (or $125b/yr). Maybe we should start calling it The Big Four lol.. pic.twitter.com/ovxITN9O9s
— Eric Balchunas (@EricBalchunas) January 14, 2021
The ARK Genomic Revolution ETF, ARK Innovation ETF and ARK Next Generation Internet ETF had returns of 203%, 159% and 157%, respectively, in 2020.
“Cathie Wood has the Midas Touch right now,” Nate Geraci, president of investment advisory firm The ETF Store, recently told Bloomberg. “Investors assume anything she’s associated with will turn to gold.”
ARKX ETF Filing
According to ARK’s filing on Wednesday, holdings in the space ETF will include: firms that launch, make, service or operate platforms in orbital space (like satellites and launch vehicles); firms that do the same for suborbital space (including drones and air taxis); firms that build technologies for aerospace operations (like artificial intelligence, robotics and 3D printing); and firms benefiting from other aerospace activities (such as agriculture, internet access and global positioning systems.)