With reports pointing to potential IPOs for SpaceX and Anthropic later this year, ETF investors may soon be asking whether two of the world’s most valuable private technology companies could find a place in the Wedbush Dan IVES AI Revolution ETF (NYSE:IVES).
The question is particularly relevant because the ETF is built around Dan Ives‘ highest-conviction AI investment themes. Rather than tracking a broad technology index, IVES holds about 30 companies that Ives believes are best positioned to benefit from the AI revolution, spanning semiconductors, cloud computing, software, cybersecurity, autonomous systems, and digital infrastructure.
A review of the fund’s fact sheet suggests both SpaceX and Anthropic already align with many of the characteristics seen across existing holdings.
Why SpaceX Could Fit The IVES Playbook
While SpaceX is best known for rockets and satellites, its business increasingly intersects with several themes that have become central to the AI investment narrative.
Starlink’s global communications network provides critical connectivity infrastructure, while the company’s leadership in autonomous systems, defense technology, and data-intensive operations places it within many of the same innovation categories that populate the IVES portfolio today.
If SpaceX lists publicly as expected, it could become one of the most significant technology additions available to AI-focused investors.
Anthropic May Be An Even More Natural Candidate
Anthropic arguably fits the ETF’s framework even more directly.
The company sits at the heart of the generative AI ecosystem through its Claude family of models and has emerged as one of the leading competitors in frontier AI development. As enterprises increasingly deploy AI agents and large language models, Anthropic’s role in the commercialization of AI closely matches the themes already represented across IVES holdings.
A public listing would immediately give the ETF access to a pure-play AI developer that is currently unavailable in public markets.
What The IVES Portfolio Tells Us
The ETF’s current holdings reveal a preference for companies that:
- Are direct beneficiaries of AI spending
- Own critical AI infrastructure or platforms
- Enable AI deployment at scale
- Have strong competitive positions in emerging technologies
- Represent high-conviction ideas within Dan Ives’ AI thesis
By those measures, both SpaceX and Anthropic appear to check multiple boxes.
Even if SpaceX and Anthropic complete their expected IPOs, inclusion in the IVES ETF would not be immediate. The fund reviews and rebalances its portfolio quarterly on the third Friday of March, June, September, and December, when it reapplies constituent weighting caps ranging from 1% to 4%. As a result, any newly public company that meets the fund’s AI-focused criteria would likely have to wait until a scheduled rebalance before being considered for addition.
For investors watching the IPO market, those quarterly review dates could become key milestones in determining whether SpaceX or Anthropic ultimately earns a place in the IVES portfolio.
The Bigger ETF Story
The more interesting question is not whether SpaceX and Anthropic qualify today, but whether their anticipated IPOs could reshape the next generation of AI ETFs.
For the IVES ETF, which aims to capture the companies driving the AI revolution, the arrival of publicly traded shares in two of the most influential private technology firms could create compelling new portfolio opportunities. If their public-market debuts materialize, investors may soon find out whether Ives’ AI playbook has room for two of Silicon Valley’s most coveted names.
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