Owning NvidiaNVDA

isn’t bad, but how does owning a stake in one of the largest AI firms sound? Guess it depends if the price is right. KraneShares’ Artificial Intelligence and Technology ETFAGIX

mangled a direct stake in AI company Anthropic — which just closed a new funding round at a $60B valuation.

• The ETF, which owns shares of AI giants like MetaMETA
  , MicrosoftMSFT
  , and AmazonAMZN
  , counts Anthropic as its fourth-largest asset as of this writing.
• As of today, the fund — which has $25M in assets under management — has just 4.6% (~$1M) of its funds in the burgeoning AI startup.

More likely than you think: Private assets in publicly-traded funds remain relatively nascent, given restrictions by the SEC, which restrict ETFs from having more than 15% of their assets in privately-traded assets. However, they don’t apply to closed-end or less liquid funds like the Destiny Tech100DXYZ

, which launched last year and owns stakes in SpaceX and OpenAI. And despite restrictions, soon thereafter, the Alger AI Enablers & Adopters ETFALAI

became the first ETF to own private securities. Bloomberg observes that other funds are looking to add private assets to their funds using special-purpose vehicles or other means. Other products, such as the Pacer PE/VC ETFPEVC

, also aim to copy VC and PE returns without holding assets.

It’s not just private companies either… In recent weeks, State StreetSTT

and ApolloAPO

rolled out the first private credit ETF, the SPDR SSGA Apollo IG Public & Private Credit ETFPRIV

, allowing retail investors to buy into booming demand for private credit — already a staple for the ultra-wealthy. However, at a 0.70% expense ratio, its fees could be a hefty ask.