ARK buys 3.3M SpaceX shares

• ARK Invest purchased nearly 3.3 million shares of SpaceX across three exchange-traded funds following the company's Nasdaq debut.
• SpaceX became a top holding in ARK's innovation, automation and space-focused ETFs, reflecting the firm's conviction in the company's growth strategy.
• ARK said its investment thesis centres on Starlink, Starship, xAI and the potential expansion of AI and space infrastructure markets.

ARK Investment Management bought nearly 3.3 million shares of SpaceX across three exchange-traded funds after the company's Nasdaq debut, increasing its exposure to the space, satellite internet and artificial intelligence sectors.

The purchase followed SpaceX's June 12 public listing, which reportedly valued the company at US$1.75 trillion after raising about US$75 billion and attracting approximately US$250 billion in investor demand.

“Through Starship, Starlink and the acquisition of xAI, we believe SpaceX is building a vertically integrated AI infrastructure for a much larger space economy,” ARK wrote.

ARK Innovation ETF received 1,690,839 SpaceX shares, while ARK Autonomous Technology ETF added 736,442 shares and ARK Space & Defense Innovation ETF purchased 538,341 shares.

The investment reflects ARK's view that lower launch costs, Starlink's growth and future AI infrastructure demand could support SpaceX's long-term expansion, and following the purchase the SpaceX share price was unchanged at US$0.00.

Before establishing the position, ARK sold nearly US$280 million worth of stocks during the preceding week, including holdings in Advanced Micro Devices, Roku and Baidu.

SpaceX also held 18,712 Bitcoin (CRYPTO:BTC) as of March 31 with a reported fair value of approximately US$1.29 billion, while public discussion around the company has recently included speculation about a potential future combination with Tesla.

At the time of reporting, Bitcoin price was $66,012.36.