Ark Invest bought over $500 million in stocks on the first day of SpaceX's IPO

According to CoinDesk, Ark Invest, led by Cathie Wood, purchased nearly 3.3 million shares of SpaceX on its first day of trading, valued at over $500 million, with a closing price of $160.95, up 19.2% from the $135 issue price. Ark sold nearly $280 million in stocks of other companies a week before the listing and sold about 948,000 shares on the day of the listing, involving 13 companies including AMD, Roku, and Baidu. The ARK Innovation ETF (ARKK) was the main buyer, with SpaceX accounting for 3.28% of its portfolio. Ark's target for SpaceX's enterprise value in 2030 is $2.5 trillion, with an optimistic scenario of about $3.1 trillion.

Ark also operates a spot Bitcoin ETF, and Wood has been one of the most bullish institutional investors on Bitcoin. Analysts point out that venture capital is limited, and when Bitcoin bulls like Wood turn to stocks instead of increasing their crypto holdings, it indicates that funds may continue to flow out of the crypto market in the short term.