Cathie Wood’s ARKK Elevates Circle and SpaceX into Top 10 Holdings After $37M Buying Spree
Ark Invest built out major positions in the stablecoin issuer and rocket maker after second-quarter earnings.
Cathie Wood’s flagship Ark Innovation ETF (ARKK) has elevated stablecoin operator Circle and aerospace developer SpaceX into its ten largest positions, following a fresh round of share purchases disclosed after both companies reported second-quarter earnings.
A Thursday holdings disclosure shows SpaceX has risen to become ARKK’s fifth-largest asset, carrying a market value of nearly $282 million and representing 4.73% of the portfolio. Circle ranks eighth, with a position valued at approximately $233 million, or 3.90% of total fund assets.
The portfolio shifts followed a multi-fund buying spree by Ark Invest across recent trading sessions. Trade filings reveal Ark acquired 181,830 SpaceX shares across four ETFs, including ARKK, for roughly $20 million based on market closing prices. The manager also bought 273,343 Circle shares across ARKK and two companion funds, totaling about $17.3 million.
Ark accumulated Circle shares while the asset traded flat following its second-quarter report. The stablecoin issuer generated $701 million in revenue and reserve income—up 7% year-over-year—and recorded an 8% increase in adjusted EBITDA to $143 million. Circle’s core USDC token saw active circulation rise 19% to $73.3 billion, while quarterly on-chain transaction volume surged 151% to $14.8 trillion.
By contrast, Ark stepped in to buy SpaceX stock during a post-earnings pullback. Shares of the private space tech provider dropped 13.6% despite a 92% jump in quarterly revenue to $7.8 billion, as investors digested $18.4 billion in capital expenditures earmarked by executives for artificial intelligence expansion.
The additions build on a strategic reallocation initiated in late July, when Ark trimmed equity holdings in Bitmine, Robinhood, Block, and Bullish. The manager redirected capital into core fintech and tech infrastructure positions, purchasing $43.5 million worth of Coinbase and Circle stock alongside $14.5 million in SpaceX shares. Alongside Tesla, OpenAI, Palantir, and Coinbase, the expanded stakes consolidate Cathie Wood’s core bets on digital finance and next-generation computing.
