Ethereum
SpaceX and Circle become top-10 holdings in Ark Innovation fund
Cathie Wood's flagship ETF now counts the aerospace company and stablecoin issuer among its largest positions after continued purchases following their latest earnings.
SpaceX and Circle have risen to prominence in the Ark Innovation ETF (ARKK), ranking as the fund's fifth and eighth largest holdings respectively, according to a holdings report published Thursday. SpaceX commands a market value of nearly $282 million, representing 4.73% of the portfolio, while Circle holds about $233 million at 3.90% weighting.
Ark's trading disclosures reveal the firm deepened both positions after the companies reported second-quarter results. The fund purchased 181,830 SpaceX shares across four exchange-traded funds worth approximately $20 million, and 273,343 Circle shares across ARKK and two others valued at roughly $17.3 million.
Circle reported $701 million in second-quarter revenue and reserve income, up 7% year-on-year, with adjusted EBITDA rising 8% to $143 million. USDC circulation reached $73.3 billion, up 19%, while on-chain transaction volume climbed 151% to $14.8 trillion. SpaceX posted a 92% increase in quarterly revenue to $7.8 billion, though its share price fell 13.6% as investors focused on the company's reported $18.4 billion in capital expenditure commitments for expanded AI capabilities.
The moves reflect Ark's sustained positioning in artificial intelligence, cryptocurrency, fintech and advanced technology sectors. Both additions follow the firm's broader rebalancing activity in late July, when it sold positions in Bitmine, Robinhood, Block and Bullish while purchasing approximately $43.5 million of Coinbase and Circle stock and roughly $14.5 million of SpaceX shares.
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