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    <oef:SupplementToProspectusTextBlock contextRef="c1" id="ixv-11">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;ARK ETF TRUST&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;ARK Next Generation Internet ETF (ARKW)&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&#160;&lt;/p&gt;



&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;i&gt;Supplement dated July 9, 2026 to the&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "&gt;&lt;i&gt;Summary Prospectus,
Prospectus and Statement of Additional Information (the &#x201c;SAI&#x201d;) for the ARK ETF Trust&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "&gt;&lt;i&gt;(the &#x201c;Trust&#x201d;),
each dated November 30, 2025, as may be supplemented&lt;/i&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "&gt;&lt;i&gt;&#160;&lt;/i&gt;&lt;/p&gt;



&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;IMPORTANT NOTICE REGARDING CHANGE IN NAME AND
INVESTMENT POLICY &lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "&gt;&lt;i&gt;&#160;&lt;/i&gt;&lt;/p&gt;



&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;This Supplement updates certain information contained
in the Summary Prospectus, Prospectus and SAI with respect to the ARK Next Generation Internet ETF, a series of the Trust (the &#x201c;Fund&#x201d;).
You may obtain copies of the Fund&#x2019;s Summary Prospectus, Prospectus and SAI free of charge, upon request, by calling toll-free 855-406-1506,
sending an email request to info@ark-invest.com or writing to ARK Investment Management LLC, 200 Central Avenue, Suite 220, St. Petersburg,
Florida 33701.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;



&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "&gt;&lt;span&gt;Upon
the recommendation of ARK Investment Management LLC (the &#x201c;Adviser&#x201d;), the&lt;/span&gt; Board of Trustees of the Trust recently approved
changes to the ARK Next Generation Internet ETF&#x2019;s name and non-fundamental policy to invest under normal circumstances primarily
(at least 80% of its assets) in domestic and foreign equity securities of companies that are relevant to the Fund&#x2019;s investment theme
of next generation internet (&#x201c;80% Policy&#x201d;). &lt;span&gt;The Fund&#x2019;s name will change to the
&#x201c;&lt;/span&gt;ARK Next Generation Technology ETF&lt;span&gt;.&#x201d;&lt;/span&gt; The Fund&#x2019;s 80% Policy will
be revised to reflect that the Fund will invest under normal circumstances primarily (at least 80% of its assets) in domestic and foreign
equity securities of companies that are relevant to the Fund&#x2019;s investment theme of next generation technology. These changes will
be effective on September 7, 2026 (the &#x201c;Effective Date&#x201d;). These changes will not materially impact (i) the way in which the
Fund is managed, (ii) the portfolio holdings of the Fund or (iii) the Fund&#x2019;s investment objective.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "&gt;&#160;&lt;/p&gt;



&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "&gt;Accordingly, on the Effective
Date, the Fund&#x2019;s Summary Prospectus, Prospectus and SAI are revised as follows:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "&gt;&#160;&lt;/p&gt;



&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "&gt;&lt;b&gt;All references in
the Summary Prospectus, Prospectus and SAI to the &#x201c;ARK Next Generation Internet ETF&#x201d; are replaced with &#x201c;ARK Next Generation
Technology ETF.&#x201d;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "&gt;&#160;&lt;/p&gt;



&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "&gt;&lt;b&gt;The following replaces
in its entirety the first four paragraphs of the &lt;i&gt;&#x201c;Principal Investment Strategies&#x201d;&lt;/i&gt; in the Summary Prospectus and &#x201c;ARK
Next Generation Internet ETF&lt;i&gt;&#x2014;Summary&#x2014;Principal Investment Strategies&#x201d;&lt;/i&gt; in the Prospectus: &lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "&gt;&#160;&lt;/p&gt;



&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Fund is an actively-managed&#160;exchange-traded&#160;fund
(&#x201c;ETF&#x201d;) that will invest under normal circumstances primarily (at least 80% of its assets) in domestic and foreign equity
securities of companies that are relevant to the Fund&#x2019;s investment theme of next generation technology.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "&gt;&#160;&lt;/p&gt;



&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "&gt;Next generation technology
companies are companies that the Adviser believes are focused on and expected to benefit from shifting the bases of technology infrastructure
from hardware and software to the cloud and artificial intelligence, enabling mobile and on-demand services, such as companies that rely
on or benefit from the increased use of shared technology, infrastructure and services. These companies may include online retailers
and/or mail order houses which generate the entirety of their business through websites and which offer technology-based&#160;products
and services, such as streaming media or cloud storage in addition to traditional physical goods. These companies may also include ones
that develop, use or rely on innovative payment methodologies, artificial intelligence, big data, the &#x201c;internet of things&lt;sup&gt;1&lt;/sup&gt;,&#x201d;
social distribution and media, and technologies that make financial services more efficient (&#x201c;Blockchain &amp;amp; Fintech Innovation
Companies&#x201d;).&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "&gt;&lt;/p&gt;&lt;div style="width: 25%"&gt;&lt;div style="font-size: 1pt; border-top: Black 1pt solid"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%; border-spacing: 0px;"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0%; text-align: right"&gt;&lt;sup&gt;1&lt;/sup&gt;&lt;/td&gt;&lt;td style="width: 0.25in"&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The Adviser defines
the &#x201c;internet of things&#x201d; as a system of interrelated computing devices, mechanical and digital machines, or physical objects
that are provided unique identifiers and the ability to transfer data over a network without requiring human-to-human or human-to-computer
interaction.&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "&gt;&lt;/p&gt;&lt;div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"&gt;&lt;p style="margin: 0pt"&gt;&lt;/p&gt;&lt;/div&gt;&lt;div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"&gt;&lt;p style="margin: 0pt"&gt;&#160;&lt;/p&gt;&lt;/div&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "&gt;In selecting companies
that the Adviser believes are relevant to a particular investment theme, the Adviser seeks to identify, using its own internal research
and analysis, companies capitalizing on disruptive innovation or that are enabling the further development of a theme in the markets
in which they operate. The Adviser&#x2019;s internal research and analysis leverages insights from diverse sources, including external
research, to develop and refine its investment themes and identify and take advantage of trends that have ramifications for individual
companies or entire industries. The types of companies that the Adviser believes are relevant to this theme are those that are focused
on shifting the bases of technology infrastructure from hardware and software to the cloud and artificial intelligence, enabling mobile
and on-demand services, among others. The Adviser believes Blockchain &amp;amp; Fintech Innovation Companies are companies that are focused
on and expected to benefit from the shifting of the financial sector and economic transactions to technology infrastructure platforms,
and technological intermediaries. Blockchain &amp;amp; Fintech Innovation Companies may also develop, use or rely on innovative payment platforms
and methodologies, artificial intelligence, point of sale providers, transactional innovations, business analytics, fraud reduction,
frictionless funding platforms, peer-to-peer&#160;lending, blockchain technologies,&lt;sup&gt;2&lt;/sup&gt; intermediary exchanges, asset allocation
technology, cryptocurrency,&lt;sup&gt;3&lt;/sup&gt; mobile payments, and risk pricing and pooling aggregators. The Fund may have exposure to cryptocurrency,
such as bitcoin and Ether, indirectly through an investment in a grantor trust or in other pooled investment vehicles, such as exchange-traded&#160;funds.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "&gt;&#160;&lt;/p&gt;



&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "&gt;The Fund gains exposure
to cryptocurrency through investments in the ARK Next Generation Technology (Cayman) Fund, a wholly-owned&#160;subsidiary of the Fund
organized under the laws of the Cayman Islands (the &#x201c;ARKW Subsidiary&#x201d;). In order to comply with certain issuer diversification
limits imposed by the Internal Revenue Code, the Fund may invest up to 25% of its total assets in the ARKW Subsidiary. The ARKW Subsidiary
is advised by the Adviser, and has the same investment objective as the Fund. The ARKW Subsidiary may invest in pooled investment vehicles
and exchange-traded&#160;products that invest in cryptocurrencies. Investments in the ARKW Subsidiary are intended to provide the Fund
with exposure to cryptocurrency while meeting the federal tax requirements that apply to regulated investment companies, like the Fund.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;



&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "&gt;&lt;b&gt;The following replaces
in its entirety the sixth paragraph of the &lt;i&gt;&#x201c;Principal Investment Strategies&#x201d;&lt;/i&gt; in the Summary Prospectus and &#x201c;ARK
Next Generation Internet ETF&lt;i&gt;&#x2014;Summary&#x2014;Principal Investment Strategies&#x201d;&lt;/i&gt; in the Prospectus:&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;





&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Adviser&#x2019;s process for identifying next
generation technology companies uses both &#x201c;top down&#x201d; (thematic research sizing the potential total available market, and surfacing
the prime beneficiaries) and &#x201c;bottom up&#x201d; (valuation, fundamental and quantitative measures) approaches. In both the Adviser&#x2019;s
&#x201c;top down&#x201d; and &#x201c;bottom up&#x201d; approaches, the Adviser evaluates environmental, social, and governance (&#x201c;ESG&#x201d;)
considerations. In its &#x201c;top down&#x201d; approach, to integrate ESG considerations into its research and investment process, the
Adviser assesses the degree to which a company may be progressing towards each of the United Nations Sustainable Development Goals. The
Adviser, however, does not use ESG considerations to limit, restrict or otherwise exclude companies or sectors from the Fund&#x2019;s investment
universe. In its &#x201c;bottom up&#x201d; approach, the Adviser makes its investment decisions primarily based on its analysis of the potential
of individual companies, while integrating ESG considerations into that process. The Adviser&#x2019;s highest-conviction&#160;investment
ideas are those that it believes present the best risk-reward&#160;opportunities.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;



&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;Please retain this supplement for future reference.&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;/p&gt;&lt;div style="width: 25%"&gt;&lt;div style="font-size: 1pt; border-top: Black 1pt solid"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%; border-spacing: 0px;"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0%; text-align: right"&gt;&lt;sup&gt;2&lt;/sup&gt;&lt;/td&gt;&lt;td style="width: 0.25in"&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The term &#x201c;blockchain&#x201d;
refers to a peer-to-peer&#160;distributed ledger that is secured using cryptography. A distributed ledger is a shared electronic database
where information is recorded and stored across multiple computers; a blockchain is one type of distributed ledger. A blockchain may
be open and permissionless or private and permissioned. The Bitcoin and Ethereum blockchains are examples of open, public, permissionless
blockchains. Blockchain derives its name from the way it stores transaction data in &#x201c;blocks&#x201d; that are linked together to
form a chain. As the number of transactions grows, so does the blockchain. Blocks record and confirm the time and sequence of transactions,
which are then logged into the blockchain network, which is, with respect to public blockchains, governed by rules agreed on by the network
participants.&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;

&lt;table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%; border-spacing: 0px;"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0%; text-align: right"&gt;&lt;sup&gt;3&lt;/sup&gt;&lt;/td&gt;&lt;td style="width: 0.25in"&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-size: 10pt"&gt;Cryptocurrencies (also referred to as &#x201c;virtual currencies&#x201d;
and &#x201c;digital currencies&#x201d;) are digital assets designed to act as a medium of exchange. There are thousands of cryptocurrencies,
the most well-known&#160;of which is bitcoin.&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;</oef:SupplementToProspectusTextBlock>
    <oef:RiskReturnHeading contextRef="c1" id="ixv-146">ARK Next Generation Internet ETF</oef:RiskReturnHeading>
    <oef:ProspectusDate contextRef="c0" id="ixv-147">2026-07-09</oef:ProspectusDate>
    <oef:StrategyHeading contextRef="c1" id="ixv-42">The following replaces
in its entirety the first four paragraphs of the &#x201c;Principal Investment Strategies&#x201d; in the Summary Prospectus and &#x201c;ARK
Next Generation Internet ETF&#x2014;Summary&#x2014;Principal Investment Strategies&#x201d; in the Prospectus: </oef:StrategyHeading>
    <oef:StrategyNarrativeTextBlock contextRef="c1" id="ixv-47">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Fund is an actively-managed&#160;exchange-traded&#160;fund
(&#x201c;ETF&#x201d;) that will invest under normal circumstances primarily (at least 80% of its assets) in domestic and foreign equity
securities of companies that are relevant to the Fund&#x2019;s investment theme of next generation technology.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "&gt;&#160;&lt;/p&gt;



&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "&gt;Next generation technology
companies are companies that the Adviser believes are focused on and expected to benefit from shifting the bases of technology infrastructure
from hardware and software to the cloud and artificial intelligence, enabling mobile and on-demand services, such as companies that rely
on or benefit from the increased use of shared technology, infrastructure and services. These companies may include online retailers
and/or mail order houses which generate the entirety of their business through websites and which offer technology-based&#160;products
and services, such as streaming media or cloud storage in addition to traditional physical goods. These companies may also include ones
that develop, use or rely on innovative payment methodologies, artificial intelligence, big data, the &#x201c;internet of things&lt;sup&gt;1&lt;/sup&gt;,&#x201d;
social distribution and media, and technologies that make financial services more efficient (&#x201c;Blockchain &amp;amp; Fintech Innovation
Companies&#x201d;).&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "&gt;&lt;/p&gt;&lt;div style="width: 25%"&gt;&lt;div style="font-size: 1pt; border-top: Black 1pt solid"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%; border-spacing: 0px;"&gt;&lt;tr style="vertical-align: top; text-align: justify"&gt;
&lt;td style="width: 0%; text-align: right"&gt;&lt;sup&gt;1&lt;/sup&gt;&lt;/td&gt;&lt;td style="width: 0.25in"&gt;&lt;/td&gt;&lt;td style="text-align: justify"&gt;&lt;span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The Adviser defines
the &#x201c;internet of things&#x201d; as a system of interrelated computing devices, mechanical and digital machines, or physical objects
that are provided unique identifiers and the ability to transfer data over a network without requiring human-to-human or human-to-computer
interaction.&lt;/span&gt;&lt;/td&gt;
&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "&gt;&lt;/p&gt;&lt;div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"&gt;&lt;p style="margin: 0pt"&gt;&lt;/p&gt;&lt;/div&gt;&lt;div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"&gt;&lt;p style="margin: 0pt"&gt;&#160;&lt;/p&gt;&lt;/div&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "&gt;&#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "&gt;In selecting companies
that the Adviser believes are relevant to a particular investment theme, the Adviser seeks to identify, using its own internal research
and analysis, companies capitalizing on disruptive innovation or that are enabling the further development of a theme in the markets
in which they operate. The Adviser&#x2019;s internal research and analysis leverages insights from diverse sources, including external
research, to develop and refine its investment themes and identify and take advantage of trends that have ramifications for individual
companies or entire industries. The types of companies that the Adviser believes are relevant to this theme are those that are focused
on shifting the bases of technology infrastructure from hardware and software to the cloud and artificial intelligence, enabling mobile
and on-demand services, among others. The Adviser believes Blockchain &amp;amp; Fintech Innovation Companies are companies that are focused
on and expected to benefit from the shifting of the financial sector and economic transactions to technology infrastructure platforms,
and technological intermediaries. Blockchain &amp;amp; Fintech Innovation Companies may also develop, use or rely on innovative payment platforms
and methodologies, artificial intelligence, point of sale providers, transactional innovations, business analytics, fraud reduction,
frictionless funding platforms, peer-to-peer&#160;lending, blockchain technologies,&lt;sup&gt;2&lt;/sup&gt; intermediary exchanges, asset allocation
technology, cryptocurrency,&lt;sup&gt;3&lt;/sup&gt; mobile payments, and risk pricing and pooling aggregators. The Fund may have exposure to cryptocurrency,
such as bitcoin and Ether, indirectly through an investment in a grantor trust or in other pooled investment vehicles, such as exchange-traded&#160;funds.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "&gt;&#160;&lt;/p&gt;



&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "&gt;The Fund gains exposure
to cryptocurrency through investments in the ARK Next Generation Technology (Cayman) Fund, a wholly-owned&#160;subsidiary of the Fund
organized under the laws of the Cayman Islands (the &#x201c;ARKW Subsidiary&#x201d;). In order to comply with certain issuer diversification
limits imposed by the Internal Revenue Code, the Fund may invest up to 25% of its total assets in the ARKW Subsidiary. The ARKW Subsidiary
is advised by the Adviser, and has the same investment objective as the Fund. The ARKW Subsidiary may invest in pooled investment vehicles
and exchange-traded&#160;products that invest in cryptocurrencies. Investments in the ARKW Subsidiary are intended to provide the Fund
with exposure to cryptocurrency while meeting the federal tax requirements that apply to regulated investment companies, like the Fund.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;



&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "&gt;&lt;b&gt;The following replaces
in its entirety the sixth paragraph of the &lt;i&gt;&#x201c;Principal Investment Strategies&#x201d;&lt;/i&gt; in the Summary Prospectus and &#x201c;ARK
Next Generation Internet ETF&lt;i&gt;&#x2014;Summary&#x2014;Principal Investment Strategies&#x201d;&lt;/i&gt; in the Prospectus:&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;





&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Adviser&#x2019;s process for identifying next
generation technology companies uses both &#x201c;top down&#x201d; (thematic research sizing the potential total available market, and surfacing
the prime beneficiaries) and &#x201c;bottom up&#x201d; (valuation, fundamental and quantitative measures) approaches. In both the Adviser&#x2019;s
&#x201c;top down&#x201d; and &#x201c;bottom up&#x201d; approaches, the Adviser evaluates environmental, social, and governance (&#x201c;ESG&#x201d;)
considerations. In its &#x201c;top down&#x201d; approach, to integrate ESG considerations into its research and investment process, the
Adviser assesses the degree to which a company may be progressing towards each of the United Nations Sustainable Development Goals. The
Adviser, however, does not use ESG considerations to limit, restrict or otherwise exclude companies or sectors from the Fund&#x2019;s investment
universe. In its &#x201c;bottom up&#x201d; approach, the Adviser makes its investment decisions primarily based on its analysis of the potential
of individual companies, while integrating ESG considerations into that process. The Adviser&#x2019;s highest-conviction&#160;investment
ideas are those that it believes present the best risk-reward&#160;opportunities.&lt;/p&gt;</oef:StrategyNarrativeTextBlock>
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(&#x201c;ETF&#x201d;) that will invest under normal circumstances primarily (at least 80% of its assets) in domestic and foreign equity
securities of companies that are relevant to the Fund&#x2019;s investment theme of next generation technology.</fnd:NmRule35d1EightyPctInvstmntPlcyTextBlock>
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    <dei:AmendmentFlag contextRef="c0" id="ixv-154">false</dei:AmendmentFlag>
    <dei:DocumentPeriodEndDate contextRef="c0" id="ixv-155">2025-11-30</dei:DocumentPeriodEndDate>
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