Key Takeaways
ARK purchased $20.5 million of SpaceX (SPCX) on July 20 throughout 4 of its ETFs.SpaceX shares traded close to $119.85, down greater than 45% from their June IPO worth of $135.ARK trimmed Robinhood (HOOD) by $4.1 million the identical day, persevering with a sample of profit-taking.
A Acquainted Sample of Shopping for the SpaceX Dip
The SpaceX buy unfold throughout ARK’s flagship ARKK, ARKW, ARKQ and ARKX funds, based on the agency’s each day commerce disclosures. It’s not the primary time Wooden has stepped in as Elon Musk’s rocket firm has slid, given Ark Make investments added $32.5 million of SpaceX shares in an earlier dip this 12 months, and the fund has individually amassed roughly 3.3 million shares tied to the inventory’s Starlink and synthetic intelligence (AI)-linked infrastructure companies.
SpaceX’s decline has been steep. The inventory topped $225 shortly after its report June IPO, which raised roughly $86 billion, however has since shed greater than 40% of its worth and closed beneath its $135 providing worth for the primary time since its debut earlier this month. The inventory is at the moment buying and selling at $119.85.
Analysts level to profit-taking after one of the hyped listings in reminiscence, a reassessment of the corporate’s valuation, a failed check of the upgraded Starship V3 rocket, and looming lock-up expirations that can free early holders to promote.
SpaceX’s Bitcoin Treasury Angle
SpaceX holds roughly 18,712 bitcoin (BTC), price near $1.19 billion at present costs, making it one of many largest company holders of the asset exterior of devoted treasury corporations similar to Technique (Nasdaq: MSTR). A falling share worth doesn’t change that steadiness sheet place, but it surely does imply ARK is accumulating publicity to a bitcoin-holding firm at a steep low cost to its post-IPO highs.
The Robinhood sale was smaller and suits a special sample. ARK has moved out and in of Robinhood repeatedly this 12 months, at one level shopping for the dip on Robinhood alongside Coinbase, Circle and Bullish as crypto-linked shares slid broadly. Robinhood shares closed July 20 close to $99.28, down modestly on the day, and the inventory has been a robust performer in 2026 as its crypto and choices companies have expanded.
The identical buying and selling day, ARK additionally added $18.2 million of Meta Platforms shares whereas promoting $4.1 million of Superior Micro Units, strikes that fall exterior the SpaceX-Robinhood commerce however reinforce the fund’s broader tilt towards AI infrastructure names over semiconductor publicity.
Wooden’s Broader Crypto Thesis
The trades come as Wooden continues to make a few of the most aggressive public bitcoin forecasts on Wall Avenue. She has doubled down on a long-term bull case that locations bitcoin’s worth between $1 million and $1.5 million per coin, with a base case round $650,000, citing institutional adoption and the asset’s rising recognition as a definite retailer of worth.
Wooden has additionally projected the broader crypto ecosystem may scale from roughly $1 trillion at the moment to $25 trillion by 2030, and has described bitcoin as a “new Bretton Woods” for a fracturing world financial system.
Regardless of the drawdown, SpaceX’s rise has been speedy by any measure. The corporate landed a spot within the Nasdaq-100 index simply weeks after its report IPO, a milestone that sometimes takes newly public firms years to succeed in and one which forces index funds to purchase the inventory no matter near-term worth swings. That dynamic has added a layer of structural demand whilst lively traders like ARK commerce across the volatility.
SpaceX is scheduled to report second-quarter outcomes and host an earnings webcast on August 4, an occasion that can give traders their first detailed take a look at the corporate’s financials for the reason that IPO and will resolve a few of the valuation uncertainty behind the latest slide. The corporate’s subsequent Starship check flight and any replace on lock-up expirations may even weigh on sentiment within the meantime.
For Robinhood, quarterly outcomes will present whether or not crypto buying and selling volumes are nonetheless rising quick sufficient to justify ARK’s earlier conviction, even because the fund trims its place on energy. Both method, ARK’s each day commerce disclosures will preserve providing an unusually granular window into how one among Wall Avenue’s highest-profile crypto bulls is positioning round each names.
