Cathie Wood’s firm sold $325 million in stocks to fund the purchase of 3.3 million SpaceX shares at $135 each.
ARK Invest purchased 3.3 million SpaceX shares worth over $500 million during the company’s $2.5 trillion valuation IPO, marking one of the largest single-day stakes in a debut listing. The shares, priced at $135, closed at $160.95, a 19.2% first-day gain.
The firm liquidated $280 million in equities the week prior and sold an additional $48 million across 13 companies on IPO day, including AMD, Roku, and Baidu. The ARK Innovation ETF (ARKK) allocated 3.28% of its portfolio to SpaceX by market close.
ARK’s shift reflects a broader institutional pivot from crypto to high-growth sectors like space and AI, aligning with its 2030 valuation target for SpaceX.