3 ETFs That Could Include Anthropic After Its IPO in October

Key Points

• Anthropic could become the biggest IPO ever, following its anticipated October debut.

• Several index providers have changed the rules for inclusion to address mega-cap IPOs.

• Another ETF focused on IPOs could also see Anthropic show up quickly.

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Back in June, Space Exploration Technologies (NASDAQ: SPCX) became the biggest initial public offering (IPO) in history. In October, it might lose that title to Anthropic.

The company filed for an IPO in June and could finally go public next month. The stock offering terms could ultimately value Anthropic at $2 trillion when it debuts. Some investors may want to buy in on the company at its IPO, while others may want to stay away. But even investors who don’t buy the stock directly might still own it through select exchange-traded funds (ETFs) in their portfolios. That’s because these ETFs often mirror the holdings in major indexes.

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Prior to SpaceX’s IPO, many indexes wouldn’t add IPO stocks for weeks or even months after they went public because they didn’t meet certain criteria. Then, some fast-track rules were subsequently put in place to account for mega-cap IPOs. As a result of these rule changes, Anthropic stock could show up in some large ETFs pretty quickly. Here are three to consider.

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Invesco QQQ ETF

The Invesco QQQ ETF (NASDAQ: QQQ) is the best-known and probably most obvious candidate on this list. Anthropic would qualify for inclusion in this ETF due to its listing on a certain Nasdaq (NASDAQ: NDAQ) exchange. But it’s the post-SpaceX fast-track provision that will allow it to show up quickly.

Nasdaq’s new rule says that any eligible newly public company that would rank among the 40 largest Nasdaq-100 components can enter that index after only 15 trading days. If Anthropic comes anywhere close to its expected valuation, the size requirement shouldn’t be an issue.

iShares Russell 1000 Growth ETF

The iShares Russell 1000 Growth ETF (NYSEMKT: IWF) is another fund that Anthropic could show up in very soon due to its own fast-track rules. In May, FTSE Russell, the fund’s index provider, announced that any newly public company with a market cap that would land it within the Russell Top 500 could enter the Russell U.S. Indexes after the fifth trading day.

Anthropic would clear that bar fairly easily and would likely land in this ETF, assuming that FTSE Russell categorizes it as a growth stock.

First Trust U.S. Equity Opportunities ETF

The First Trust U.S. Equity Opportunities ETF (NYSEMKT: FPX) is perhaps a more direct route to IPO ownership. It tracks a market-cap-weighted index that tracks 100 of the largest and most liquid newly public U.S. companies. These stocks remain eligible for inclusion in the fund during their first 1,000 trading days.

Anthropic would be a logical addition to this ETF.

Investors shouldn’t necessarily go chasing these ETFs just because they could add Anthropic relatively quickly following its IPO. But they do offer a way to introduce gentle Anthropic exposure to a diversified portfolio without needing to race out and buy shares on IPO day.

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David Dierking has no position in any of the stocks mentioned. The Motley Fool recommends Nasdaq. The Motley Fool has a disclosure policy.