Ark Invest buys $32.5M in SpaceX shares amidst post IPO selloff

Cathie Wood’s Ark Invest has added nearly $32.5 million worth of SpaceX shares to four of its exchange-traded funds after the stock fell more than 16% from its recent highs.

Ark Invest’s daily trading disclosure for Monday showed the firm purchased 210,121 shares of SpaceX ticker SPCX across its ARK Innovation ETF (ARKK), ARK Autonomous Technology & Robotics ETF (ARKQ), ARK Next Generation Internet ETF (ARKW), and ARK Space Exploration & Innovation ETF (ARKX). Based on SpaceX’s closing price of $154.60, the purchases were worth about $32.48 million.

SpaceX shares closed down 16.43% on Monday. The stock reached an intraday peak of $225.64 on June 16 after debuting on Nasdaq at $150 per share on June 12. By Monday’s close, most of those gains had disappeared, with the stock trading near $154.60, based on Yahoo Finance market data.

Ark’s latest holdings disclosure placed SpaceX among the firm’s largest positions. The stock accounted for 4.46% of ARKK, representing about $313.7 million in assets. SpaceX ranked as the fourth-largest holding in ARKQ, the largest holding in ARKX, and the tenth-largest holding in ARKW.

Ark adds to existing SpaceX position

The latest purchase follows a much larger investment Ark made on SpaceX’s first day as a public company.

On June 12, Ark acquired approximately 3.29 million SpaceX shares valued at about $444.3 million across the same four ETFs. The ARKK Innovation ETF received the largest allocation, purchasing roughly 1.69 million shares, while ARKQ, ARKW, and ARKX bought smaller amounts.

Ark had exposure to SpaceX before the company’s public listing through its ARK Venture Fund. Fund disclosures listed SpaceX as the venture fund’s largest holding earlier this year.

Cathie Wood, Ark Invest’s founder and chief executive officer, has also publicly backed the company’s long-term prospects. Earlier this month, Wood told Fox Business that SpaceX held a “10-year lead on any other company” in its sector.

Ark’s internal valuation models have projected a base-case enterprise value of about $2.5 trillion for SpaceX by 2030, while the firm’s bull-case estimate reaches approximately $3.1 trillion.

Bond sale announced as trading activity remains elevated

SpaceX also announced its first bond offering on Monday, although the company did not disclose the size of the transaction.

The company said proceeds from the sale would repay outstanding borrowings under its bridge loan facility, cover related expenses, and support general corporate purposes.

SpaceX entered public markets with an IPO valuation of roughly $1.77 trillion, placing it among the largest public listings on record. The debut attracted significant activity beyond traditional equity markets as well. Hyperliquid’s HIP-3 perpetual contract tied to SpaceX, listed under the symbol SPCX, generated about $1.4 billion in trading volume on the stock’s first day.

The latest SpaceX purchase also fits a pattern seen across Ark’s recent portfolio activity. Last week, the investment firm bought roughly $18.4 million worth of Coinbase shares after the crypto exchange’s stock had declined nearly 13% over a one-month period. In May, Ark added more than $4.4 million worth of Bullish shares after a prolonged decline in the exchange operator’s stock price.