Bitcoin
SpaceX and Circle Rise to Top Holdings in Ark Innovation Fund
Cathie Wood's flagship fund has elevated SpaceX and Circle to major positions after sustained buying following the companies' second-quarter earnings.
SpaceX and Circle have become significant holdings in the Ark Innovation ETF (ARKK) following fresh purchases by Ark Invest, according to a recent holdings report. SpaceX ranks as the fund's fifth-largest position with a market value near $282 million representing 4.73% of the portfolio, while Circle places eighth at approximately $233 million or 3.90% of assets.
Ark's latest trading activity shows the firm purchased 181,830 SpaceX shares across four ETFs valued at roughly $20 million, and 273,343 Circle shares across three funds worth approximately $17.3 million. Both acquisitions came after the companies reported second-quarter results.
Circle reported $701 million in second-quarter revenue and reserve income, up 7% year-over-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 reported quarterly revenue growth of 92% to $7.8 billion, though its stock declined 13.6% as investors focused on the company's $18.4 billion capital expenditure plans for expanded AI capabilities.
The purchases reflect Ark's continued emphasis on artificial intelligence, cryptocurrency, fintech, and technology companies, alongside established positions in Tesla, Coinbase, Robinhood, OpenAI, Bitmine, and Palantir.
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