On August 5, ARK Invest CEO Cathie Wood bought more than $54.6 million worth of shares in SpaceX, Nvidia, and Circle across several of the firm's exchange-traded funds. The purchases landed on the same day SpaceX reported a quarterly loss and Circle posted mixed financial results.
The size of the bet
The total buy was spread across multiple ARK ETFs, though the exact allocation among the three companies wasn't disclosed. Nvidia, a longtime ARK holding, has been a major beneficiary of the AI boom. SpaceX, the private rocket and satellite company, and Circle, the stablecoin issuer behind USDC, are less typical for the firm's public equity funds. The $54.6 million figure makes it one of ARK's larger single-day purchases this year.
Coinciding with mixed earnings
SpaceX's latest quarterly loss comes as the company continues to pour cash into its Starship development and Starlink satellite network. Circle, meanwhile, reported mixed financial performance — a sign that the crypto market's recovery remains uneven. Neither company has commented on ARK's investment, and the timing of Wood's buys suggests she sees value despite the near-term headwinds.
What ARK bought and where
The purchases were executed across ARK's actively managed ETFs, including the ARK Innovation ETF (ARKK) and the ARK Next Generation Internet ETF (ARKW). Nvidia shares are a staple in those funds, but SpaceX and Circle are harder to fit into a typical ETF structure. SpaceX is not publicly traded, so ARK likely bought shares through a special purpose vehicle or a private placement. Circle is also private, though it has filed for an IPO. The exact vehicles used for the purchases were not detailed in the filings.
Wood has long been bullish on disruptive technologies, and the August 5 buys align with that theme. But the lack of public explanation for the timing leaves room for interpretation. Investors will watch for upcoming earnings from SpaceX and Circle to see if the bet pays off.
