ChainCatcher, citing CoinDesk, reported that Cathie Wood’s Ark Invest bought nearly 3.3 million shares of SpaceX on the company’s first day of listing. The purchase was valued at more than $500 million. SpaceX closed the day at $160.95, up 19.2% from its $135 issue price.
ARKK Leads the SpaceX Purchase
According to the report, ARK Innovation ETF, known by its ticker ARKK, was the main buyer in the transaction. After the purchase, SpaceX accounted for 3.28% of ARKK’s portfolio. The report also stated that Ark has set a 2030 enterprise value target of $2.5 trillion for SpaceX, with an optimistic scenario of roughly $3.1 trillion.
Ark had already sold nearly $280 million worth of shares in other companies in the week before SpaceX’s listing. On the listing day itself, Ark sold about 948,000 additional shares involving 13 companies, including AMD, Roku and Baidu. These sales took place alongside the SpaceX purchase and formed part of a concentrated portfolio adjustment around the listing window.
A Bitcoin Bull Shifts Capital Toward Equities
Ark also operates a spot Bitcoin ETF, and Wood has long been one of the most bullish institutional investors on Bitcoin. Because of that background, Ark’s decision to direct a large amount of capital into SpaceX stock rather than add to crypto exposure was read in the context of capital flows between equities and digital assets.
The report noted that analysts said risk capital is limited. When a Bitcoin bull such as Wood turns toward stocks instead of adding to crypto positions, they said it indicates that capital may continue to flow out of the crypto market in the short term. The central facts in the report remain Ark’s more than $500 million SpaceX purchase, the related sales across 13 companies, ARKK’s role as the main buyer, and Ark’s 2030 valuation target for SpaceX.