ARK Buys 3.3M SpaceX Shares Across Three ETFs After Nasdaq Debut on June 12

According to Investor's Business Daily, Cathie Wood's ARK Investment Management purchased nearly 3.3 million SpaceX shares on Friday across three ETFs following the company's June 12 Nasdaq debut. ARK Innovation ETF (ARKK) received 1.69 million shares, while ARK Autonomous Technology ETF (ARKQ) added 736,442 shares. ARK Space & Defense Innovation ETF (ARKX) held 538,341 shares, representing 6.89% of the fund.

ARK stated that through Starship, Starlink, and xAI, SpaceX is building vertically integrated AI infrastructure for a larger space economy. The firm cited SpaceX's 95% reduction in launch costs since 2008, with costs now below $1,000 per kilogram, as a key driver of its investment thesis.