Ark Invest Bought Over $500M in SpaceX Shares on IPO Day
ARK Invest purchased nearly 3.3 million shares of SpaceX (SPCX) worth over $500 million on the day of its record-setting IPO. The shares, priced at $135, closed 19.2% higher at $160.95. To fund the purchase, ARK sold more than $325 million in stocks across at least 13 companies, including Advanced Micro Devices, Roku, and Baidu, in the days around the listing. The ARK Innovation ETF (ARKK) holds SpaceX at 3.28% of its portfolio. This rotation from crypto to high-growth names like SpaceX, despite ARK's bullish stance on bitcoin with a million-dollar price target for 2030, suggests institutional investors are favoring AI and space IPOs over digital assets in the near term. The move comes amid a wave of AI and space listings, with OpenAI and Anthropic also filing to go public, absorbing risk capital that might otherwise flow into crypto.
Key facts
- ARK Invest bought ~3.3M SpaceX shares worth >$500M on IPO day.
- SpaceX shares closed 19.2% higher at $160.95 from $135 IPO price.
- ARK sold >$325M in stocks across 13 companies to fund purchase.
- ARKK holds 3.28% SpaceX; bitcoin remains a bullish bet.
- Shift reflects institutional preference for AI/space over crypto near-term.