KraneShares announced the expansion of the KraneShares Artificial Intelligence & Technology ETF to include Anthropic, a private AI company, on Wednesday, March 5, 2025. The inclusion propels the fund into a small class of ETFs offering investors access to private equity markets.
AGIX is on the early edge of U.S.-listed ETFs to offer direct investment into a company on the private side, according to the press release. Investing in private equity often comes with a number of hurdles for investors, including accessibility and liquidity challenges. Gaining access to private companies through an ETF could potentially ease some of these challenges for investors.
“KraneShares has always been dedicated to unlocking investment opportunities that were once out of reach for most investors,” Derek Yan, senior investment strategist at KraneShares, said in the release. “By securing direct ownership in Anthropic – a leading private AI company – we are making investing in private companies more accessible.”
The fund offers high-conviction, concentrated exposure to artificial intelligence companies. It tracks the Solactive Etna Artificial General Intelligence Index, which holds both public and private artificial intelligence companies. Etna Capital Management, the sub-adviser of the fund, brings a wealth of AI venture investing experience to bear in the strategy. Their track record includes early investment into companies like Perplexity, Anthropic, and xAI. Anthropic currently accounts for 4.34% of the weight of AGIX, as of March 4, 2025.
“We believe we are at the dawn of a new era of intelligence, and Anthropic is uniquely positioned to lead the global competition among AI model companies,” Solomon Bier, partner at Etna, explained. “We are thrilled about AGIX’s investment in Anthropic and are actively working on expanding the pipeline of private investments for AGIX, positioning it as a solution for investors seeking exposure to AI companies across both public and private markets.”
Under the Hood of AGIX's Public & Private AI Equity Strategy
The strategy of AGIX seeks to capture the breadth of the AI economy. This includes the opportunity set beyond the Magnificent Seven found in a number of subindustries. The fund invests in companies involved in semiconductors, data centers, cloud companies, edge AI, large language models, and AI applications. As evidenced by the recent addition, AGIX allocates to private artificial intelligence companies as well as public ones.
AGIX invests in three fundamental pillars of the artificial intelligence ecosystem. These include infrastructure, hardware, and applications. The index begins with a starting universe of approximately 3,000 companies before filtering for characteristics such as liquidity and market cap. It then screens for companies that fall within 12 AI-related industries.
Every security receives an AI exposure score, a proprietary formula that considers “AI readiness” as well as “AI relevance.” The highest-scoring companies make it into the Index, and are further weighted by their AI-exposure score as well as by market cap.
No single pillar makes up more than 40% of the total weight of the underlying index. The strategy is a high-conviction one, with between 40-50 securities at any given time. It also remains timely with current trends by rebalancing on a quarterly basis.
AGIX carries an expense ratio of 1.00%.
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