Demand for ETFs holding private Anthropic shares has cooled, adding another warning sign for AI-sector trading as the market’s immediate reaction to the U.S. midterm election results fades. According to Sina Finance, ETF investors bought funds holding SpaceX shares ahead of its record-setting IPO, positioning for the listing and the possibility of the company joining major indexes. The Procure Space ETF saw massive inflows and a sharp rise in trading volume in 2026, while the newly launched Tema Space Innovation ETF (NASA) quickly surpassed $3.2 billion in assets; since SpaceX went public, both funds have seen sharp declines in assets and trading volume.
Eight funds holding Anthropic shares recorded combined net outflows over the past week, mainly because CNEQ saw more than $1 billion in redemptions on Monday. Earlier inflows should not be overinterpreted: CNEQ, BAI, and TCAF each manage more than $6 billion, and Anthropic represents only a small portion of their holdings. Tema Photon and Optics ETF (LAZR), the fund with the largest Anthropic weighting at about 11%, has only about $170 million in assets, and its recent performance has also weighed on its appeal.
About $895 billion in commitments directed toward Anthropic indirectly supports substantial AI infrastructure investment. If retail investors do not welcome Anthropic’s IPO as enthusiastically as they did SpaceX’s, the already-weak AI sector could face greater pressure.
Catherine
