Ark Invest bought more than $500 million worth of SpaceX shares on IPO day
The purchases were likely funded by selling other positions, data shows. ARK is also one of the loudest bitcoin bulls, with a million-dollar target for 2030.
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Summary
- ARK Invest built a stake of nearly 3.3 million SpaceX shares worth more than $500 million on the day of the company’s record-setting IPO.
- Cathie Wood’s firm sold more than $325 million of stock across at least 13 companies in the days around the listing.
- ARK’s shift of risk capital from crypto toward high-growth names like SpaceX, alongside its $2.5 trillion base-case valuation target for the company by 2030, underscores how institutional investors are favoring AI and space IPOs over digital assets in the near term.
