Ark Invest secured over $500 million in SpaceX shares on the day of the company’s groundbreaking IPO. Data indicates that these purchases were likely financed by liquidating other investments. ARK is recognized as a strong advocate for bitcoin, with ambitious price targets set for 2030. On the day of SpaceX’s record-breaking IPO, ARK Invest amassed a stake of approximately 3.3 million shares valued at over $500 million. Cathie Wood’s firm divested more than $325 million worth of stock from at least 13 different companies in the days surrounding the IPO. This strategic shift of risk capital from cryptocurrencies to high-growth entities like SpaceX, coupled with ARK’s projected $2.5 trillion valuation for the company by 2030, highlights institutional investors’ current preference for AI and space IPOs over digital assets. Ark Invest acquired nearly 3.3 million shares of SpaceX (SPCX) as Elon Musk’s company made its public debut, achieving the largest IPO in history on Friday, resulting in a stake valued at over $500 million by day’s end. The shares were offered at $135 and closed at $160.95, marking an increase of more than 19.2% on their debut. The Cathie Wood-led firm liquidated almost $280 million in stock in the week leading up to the IPO, followed by the sale of roughly 948,000 shares worth at least $48 million across 13 companies on Friday, including Advanced Micro Devices, Roku, and Baidu, as per daily email updates during this timeframe. The ARK Innovation ETF (ARKK) accounted for most of the purchases, ending the day with SpaceX representing 3.28% of its portfolio. The nearly 20% surge on the first day of the largest IPO ever indicates that institutions are once again willing to invest in high-risk innovation. While bitcoin remains the highest-risk asset in the sector, the most sought-after investment trend currently revolves around a surge of AI and space IPOs, with companies like OpenAI and Anthropic also moving towards going public. The availability of risk capital is limited, and when even a bitcoin enthusiast like Wood shifts focus away from crypto, it suggests that funds may continue to exit the crypto markets in the short term. An ARK model forecasts a $2.5 trillion enterprise value for SpaceX by 2030, with an optimistic scenario nearing $3.1 trillion, based on the company’s $350 billion private valuation in 2024. ARK also manages a spot bitcoin ETF and Wood has been one of the most prominent advocates for institutional bitcoin investments, with long-term price projections reaching into the seven figures.