ARK buys $20.5M of SpaceX, trims $4.1M Robinhood stake

ARK Invest purchased 170,634 shares of SpaceX on July 20 for about $20.5 million and sold 41,322 shares of Robinhood the same day for roughly $4.1 million. SpaceX shares traded near $119.85 on the day of the trades.

The SpaceX purchase was spread across ARK’s ARKK, ARKW, ARKQ and ARKX exchange-traded funds, according to the firm’s daily trade disclosures. ARK added about $32.5 million of SpaceX earlier this year and has built related positions tied to the company’s Starlink and AI-linked infrastructure that amount to roughly 3.3 million shares.

SpaceX stock climbed above $225 shortly after its June IPO and has since fallen more than 40% from that peak. The shares closed below the $135 offering price for the first time since the debut. Analysts have cited profit-taking after a high-profile listing, reassessments of valuation, a failed test of the upgraded Starship V3 rocket and looming lock-up expirations as factors behind the decline.

SpaceX holds about 18,712 bitcoin, valued at roughly $1.19 billion at current prices. ARK’s latest purchases increase its exposure to a company that also carries a significant bitcoin position while the share price sits below recent highs.

The Robinhood sale continues a pattern of ARK trimming the stock after earlier buying and selling this year. ARK has rotated into and out of Robinhood alongside other cryptocurrency-linked names. Robinhood shares closed July 20 near $99.28 and have risen in 2026 as the company’s crypto and options businesses expanded.

Other trades disclosed on July 20 included an $18.2 million purchase of Meta Platforms shares and a $4.1 million sale of Advanced Micro Devices shares, reflecting ARK’s heavier weighting toward AI infrastructure exposure compared with semiconductor holdings.

Cathie Wood has projected long-term bitcoin price targets between $1 million and $1.5 million per coin, with a base case around $650,000, and has forecast the broader crypto ecosystem could grow to about $25 trillion by 2030. She has described bitcoin as ‘a new Bretton Woods’ for a fracturing global monetary system.

SpaceX was added to the Nasdaq-100 soon after its IPO, a change that requires index funds tracking the benchmark to hold the stock. The company will report second-quarter results and host an earnings webcast on August 4. Upcoming events that could affect investor interest include the next Starship test flight and any announcements about lock-up expirations. For Robinhood, upcoming quarterly results will show whether crypto trading volumes and other business lines continue to support recent gains.