PANews reported on June 15th that, according to CoinDesk, Cathie Wood's Ark Invest purchased nearly 3.3 million shares of SpaceX on its first day of trading, worth over $500 million. The stock closed at $160.95, a 19.2% increase from the IPO price of $135. Ark sold nearly $280 million worth of other company stock in the week leading up to the IPO, and then sold approximately 948,000 shares on the first day, involving 13 companies including AMD, Roku, and Baidu. The ARK Innovation ETF (ARKK) was the primary buyer, with SpaceX accounting for 3.28% of its portfolio.

Ark projects SpaceX's enterprise value at $2.5 trillion by 2030, and approximately $3.1 trillion in an optimistic scenario. Ark also operates a spot Bitcoin ETF, and Wood has consistently been one of the most bullish institutional investors on Bitcoin. Analysts point out that with limited risk capital, when Bitcoin bulls like Wood shift towards stocks rather than increasing their crypto holdings, it indicates that funds may continue to flow out of the crypto market in the short term.