Cathie Wood-led ARK Invest continued its aggressive dip-buying campaign in SpaceX on Monday, snapping up 170,634 shares of Space Exploration Technologies Corp. (NASDAQ: SPCX) valued at approximately $20.5 million, while simultaneously trimming its stake in commission-free brokerage Robinhood Markets Inc. (NASDAQ: HOOD) by 41,322 shares worth around $4.1 million.
The trades were disclosed through ARK’s daily trade notifications and confirm a pattern the fund has followed since SPCX debuted on Nasdaq last month.
SpaceX Buy Spread Across Four ARK ETFs
The bulk of the SPCX purchase came from the ARK Innovation ETF (ARKK), which added 97,664 shares of the Elon Musk-led aerospace giant. The ARK Autonomous Technology & Robotics ETF (ARKQ) chipped in another 31,807 shares, with the remainder distributed across ARKW and ARKX.
SPCX closed July 20 at $119.85, down more than 47% from its post-IPO peak of $225.64 hit on June 16 and slipping below its original $135 IPO price for the first time. The stock’s 52-week range now sits between $122.12 (all-time low, July 17) and $225.64.
At SPCX’s July 20 closing price of $119.85, the aggregate 170,634-share buy pencils out to roughly $20.5 million.SpaceX officially went public on June 12, 2026, briefly making Elon Musk the world’s first trillionaire on debut day.
Robinhood Sell-Off Extends to Third Trim This Month
The 29,436-share HOOD sale inside ARKK marks ARK’s third Robinhood trim this month. Combined with sales across other funds, the total 41,322-share offload is worth around $4.1 million.
On July 20, HOOD closed at $102.25, moving within an intraday range of $101.31 to $102.68. The stock’s 52-week range extends from a low of $63.52 to a high of $153.86, meaning it has recovered strongly from its lows but sits well below its all-time peak.
The ARK trim comes on top of insider selling activity, with Robinhood CFO Shiv Verma selling 3,982 shares for roughly $457,000 on July 15, reducing his direct equity position by 7%. Robinhood has also been busy on the capital side, closing a $2.2 billion offering of 0.00% Convertible Senior Notes due 2029 on June 25, 2026, after upsizing the deal from an initial $2.0 billion. The next major catalyst for the stock is the company’s Q2 2026 earnings report, scheduled for July 29, 2026.
The reduction fits into a broader ARK rotation out of legacy fintech into pure-play crypto infrastructure. Notably, Robinhood recently launched its own Layer 2 blockchain, Robinhood Chain, on July 1, 2026, bringing tokenized stocks, perpetual futures, and AI-native features on-chain.
However, the network has since seen its DEX activity hijacked by a memecoin explosion rather than the RWA-focused institutional use it was pitched for, with scammers even launching fake tokens like $HOODFART targeting retail users. The brokerage also filed to launch an internal employee investment fund last week, signaling deeper expansion into private markets.
ARK has been rotating out of HOOD and into crypto-native equities like Circle Internet Group (CRCL) and Coinbase (COIN) in recent sessions. Circle’s stock has been on ARK’s buy list following the OCC’s final approval for the Circle National Trust bank charter, while ARK also picked up another 220K Circle shares as the CRCL selloff deepened.
Coinbase has been added on the back of its push for the CLARITY Act. Interestingly, ARK had earlier been a buyer of HOOD, scooping up 2,943 shares in late June alongside COIN, CRCL, and BLSH, making the current selling look like a clear thesis shift.
Other Notable July 20 Trades
ARKK also offloaded Advanced Micro Devices (AMD) with 5,791 shares, Illumina (ILMN) with 16,027 shares, 10x Genomics (TXG) with 27,145 shares, Snowflake (SNOW) with 10,908 shares, Shopify (SHOP) with 142,583 shares, and Natera (NTRA) with 11,231 shares.
ARKQ also sold 48,836 shares of Baidu (BIDU), 82,346 shares of Iridium Communications (IRDM), and 135,532 shares of Strata Critical Medical (SRTA). The Baidu exit extends ARK’s broader retreat from China-based names, which began with the full closure of the Alibaba (BABA) position on July 8.
SPCX Now ARKK’s Sixth-Largest Holding
Following the fresh purchases, SpaceX has climbed to the sixth-largest position inside ARKK’s portfolio. ARK has now poured over $475 million into SPCX since its June IPO, with total shares acquired in July alone crossing 795,000.
The ARK Innovation ETF (ARKK) itself was trading around $79.33 on July 20, 2026, with a market cap of roughly $6.57 billion. ARKK is down about 1.43% year-to-date in 2026 compared to the S&P 500’s 10.13% gain, though it delivered a strong 35.49% return in 2025. Its 3-year range spans from $33.76 to $92.65.
Wood’s internal models project SpaceX reaching an enterprise value between $2.5 trillion and $3.1 trillion by 2030, with the bull thesis resting on three pillars: reusable rocket economics, Starlink satellite broadband, and orbital data centers for AI compute. SpaceX currently carries a market capitalization of roughly $1.6 trillion.
The company reports its first-ever Q2 earnings on August 4, 2026, while its next Starship test flight has been pushed to July 23.
ARK’s 2026 Playbook
ARKK is down about 1.43% year-to-date in 2026 compared to the S&P 500’s 10.13% gain, but Wood has stuck with her disruptive innovation thesis. Recent trades show three consistent themes:
- Buying every SpaceX dip aggressively across four ETFs
- Rotating into AI and autonomous mobility names like Pony AI, WeRide, Kodiak AI, and Archer Aviation
- Trimming legacy fintech (HOOD) and semiconductors (AMD) to fund crypto-linked additions (CRCL, COIN)
For a deeper look at how ARK sits in the broader crypto-equity landscape alongside Robinhood, Coinbase, and Circle, see The Crypto Times’ Top Crypto Stocks to Watch in July 2026: Latest Wall Street Price Targets. ARK has also been sparring publicly with rival investment houses, recently challenging a16z’s blockchain thesis on the future of DeFi.
The AMD sell-down has been particularly steady. ARK offloaded roughly $39 million worth of AMD stock during the July 13-17 window alone, according to Seeking Alpha.
With SPCX still under selling pressure ahead of the August 4 earnings drop and the Starship launch attempt on July 23, all eyes are on whether Wood’s conviction gets rewarded, or whether the dip keeps deepening.
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