Agentic AI ETFs Roll Out as Anthropic IPO Looms [Lee Soo’s ETF Zoom In]

Agentic AI-related ETFs debut amid expectations for an Anthropic listing

NH-Amundi Asset Management to list HANARO US Agentic AI TOP2+ in September

Samsung Asset Management to launch KODEX US AI Agent Active

South Korea’s ETF market made history in the first half of this year, with net assets reaching 500 trillion won ($361.3 billion). Leveraged ETFs tied to Samsung Electronics Co. and SK Hynix Inc., listed at the end of May, drew attention not only in Korea but across global stock markets. ETFs, once viewed as supplementary investment tools, have now established themselves as core investment products. In ETF Zoom In, we take a closer look at an ETF market that is becoming increasingly complex. [Editor’s note]

ETFs tied to agentic AI are arriving in quick succession as expectations build for an Anthropic listing. Following NH-Amundi Asset Management’s launch last month, Samsung Asset Management is set to introduce an agentic AI-themed ETF next week. Investors are paying close attention because both firms’ agentic AI ETFs could add Anthropic if the startup goes public.

According to the financial investment industry on Oct. 10, Samsung Asset Management plans to list KODEX US AI Agent Active on Oct. 13. The actively managed ETF invests in key U.S. companies that stand to benefit from the spread of AI agents. Its strategy is to quickly reflect market trends and seek returns above its benchmark as competition intensifies for leadership in the AI agent market.

KODEX US AI Agent Active could add Anthropic if the company lists. “Because this is an active product, it can immediately add newly listed stocks at the manager’s discretion,” Samsung Asset Management manager Han Dong-hoon said. The specific method and weighting will be determined after considering factors including the stock’s upside and market conditions.

KODEX US AI Agent Active uses the Indxx US AI Agents Index as its benchmark. Major constituents of that index include Meta Platforms Inc., which has recently drawn attention for the success of its AI agent Muse, as well as Palantir Technologies Inc. and Palo Alto Networks Inc. The ETF’s actual holdings after listing may differ somewhat from the benchmark and can change depending on market conditions.

The spread of AI agents will first lift revenue and profit at related companies and then create new business opportunities and added value, Han said. KODEX US AI Agent Active aims to identify companies that benefit on both fronts and maximize investment returns.

Earlier, NH-Amundi Asset Management listed HANARO US Agentic AI TOP2+ on Sept. 15. The passive ETF invests in 10 U.S.-listed companies tied to agentic AI and the technology ecosystem that supports it. Its key feature is concentrated investment, with the top two companies holding foundation models each weighted at 25%.

HANARO US Agentic AI TOP2+ could also add Anthropic if the company goes public. Under the index methodology, a company with strong relevance to the theme can be added through a special inclusion without waiting for a regular rebalance. The asset manager said AI startups such as Anthropic and OpenAI could be added to the portfolio after listing if the index committee determines they meet the eligibility requirements.

As of Oct. 8, the previous trading day, the ETF’s holdings were Microsoft Corp. at 23.59%, Alphabet Inc. Class A at 21.65%, Meta at 11.16%, Amazon.com Inc. at 8.38%, CrowdStrike Holdings Inc. at 5.99%, Dell Technologies Inc. at 5.84%, Datadog Inc. at 5.40%, Palo Alto Networks Inc. at 5.20%, Arista Networks Inc. at 4.99% and Snowflake Inc. at 4.70%.

“This is the right time to invest early in key sectors tied to agentic AI, as productivity innovation driven by the technology begins in earnest,” Kim Seung-cheol, head of ETF investments at NH-Amundi Asset Management, said. HANARO US Agentic AI TOP2+ offers concentrated exposure to core foundation-model companies while also capturing the related infrastructure ecosystem.

Brokerages say the market is shifting from conversational AI to agentic AI.

“If earlier generative AI mainly organized answers to questions, agentic AI is a next-generation system that makes its own judgments and completes execution to achieve a goal,” Kiwoom Securities analyst Kim Jin-young said. The key shift, he added, is that the question of whether companies can recoup AI infrastructure investment costs is being replaced by a framework in which computing power directly translates into revenue.

As AI completes on its own work that previously took humans hundreds or thousands of hours, rising compute usage is now linking directly to return on investment through cost cuts and revenue growth, Kim said. He added that AI adoption among U.S. companies has climbed to about 55.7%, more than double the previous forecast of 21.6%, signaling that the technology is entering a broad deployment phase.

Anthropic, meanwhile, is stepping up its listing plans. Bloomberg reported that the company plans to hold an investor presentation on Oct. 14 and begin IPO marketing around Nov. 9. Its goal is to list in mid-November and start trading before Thanksgiving on Nov. 26.

Lee Soo, Hankyung.com reporter 2su@hankyung.com