Ark Invest buys over $51M in SpaceX stock last week, continues crypto shopping spree

Cathie Wood is not being subtle about her SpaceX conviction. Ark Invest scooped up roughly $52.1 million worth of SpaceX shares during the week ending July 10, bringing the firm’s total post-IPO investment in Elon Musk’s rocket company north of $475 million.

Ark wasn’t just shopping in the aerospace aisle. The firm simultaneously added to its positions in Coinbase and Circle Internet Group.

The SpaceX spending spree in context

SpaceX debuted on the Nasdaq on June 12, 2026, and Ark spent approximately $444 million on IPO day alone. When the stock pulled back during a late June selloff, Wood doubled down with another $32.5 million in purchases. Last week’s $52.1 million buy was spread across multiple Ark ETFs, including ARKK, ARKQ, ARKW, and ARKX.

SpaceX was already Ark’s largest private holding before the IPO, sitting inside the firm’s venture fund.

Ark’s internal models project that SpaceX could reach an enterprise value of roughly $2.5 trillion by 2030. The bull case pushes that number to approximately $3.1 trillion. Wood has consistently argued that the company’s moat in reusable rocket technology, its Starlink satellite internet constellation, and its potential role in AI infrastructure create a multi-year competitive advantage.

The crypto connection: Coinbase and Circle get a boost

The firm added shares of both Coinbase Global and Circle Internet Group during the same trading week. Coinbase has been a staple of Ark’s portfolio for years. Circle, the issuer of the USDC stablecoin, went public more recently and represents a bet on the infrastructure layer of digital finance.

What Ark is selling matters too

The firm has been reducing exposure to semiconductors and genomics while funding SpaceX and crypto positions.

What this means for investors

The $475 million-plus that Ark has deployed since the IPO represents a significant vote of confidence that could encourage broader institutional participation in the stock.

For crypto investors specifically, the Coinbase and Circle additions are worth monitoring. Ark’s ETFs have meaningful assets under management, and consistent buying pressure in COIN and CRCL can influence both price and narrative.

The risk, as always with Ark, is concentration. Pouring nearly half a billion dollars into a single stock within weeks of its IPO is a high-conviction strategy. SpaceX would need to grow into a $2.5 trillion valuation to justify Ark’s base case.

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