Ark Invest added $12.2 million of SpaceX shares across several exchange-traded funds on Tuesday while reducing its exposure to Block Inc., Bullish and Robinhood, according to the firm’s daily trading disclosure.
The purchase covered 105,108 SpaceX shares, valued at roughly $12.23 million based on the day’s closing price of $116.41 per share. SpaceX shares gained 2.56% during the session but remained down 29% over the previous month, based on the pricing cited in Ark’s trading materials.
The transaction places Ark’s largest disclosed purchase of the day in a private space and communications company rather than in the publicly traded platforms that provide retail trading, payments and cryptocurrency-related services. Ark’s sales included about $4 million of Robinhood shares, $2.3 million of Block stock and $1.6 million of Bullish shares.
Ark trims retail-facing trading platforms
Robinhood, Bullish and Block each sit at different points of the market infrastructure used by retail customers, traders and businesses.
Robinhood operates a consumer brokerage platform with equity, options and cryptocurrency trading products. Its shares fell 3% to $92.76 in Tuesday’s session, according to the trading figures included in the disclosure.
Bullish, a digital-asset-focused company, declined 0.48% to $22.69. Ark’s sale of approximately $1.6 million of the stock came after the company’s shares had been included in several Ark portfolios.
Block, the payments company formerly known as Square, rose 2.29% to $83.10 despite Ark’s sale. Block owns Cash App, a major consumer payments platform that has integrated Bitcoin services, alongside its merchant-focused Square business.
The sales do not necessarily represent a wholesale rejection of those companies. Ark manages its ETFs under a portfolio rule that limits a single holding to no more than 10% of a fund’s assets. When a stock’s price moves sharply, or when fund assets change, the manager may buy or sell positions to bring weightings back within its internal limits.
That rebalancing framework makes daily trade disclosures useful indicators of Ark’s positioning, but they do not on their own establish a long-term view on every company sold. In this case, though, the contrast is clear: the firm added a sizeable position in SpaceX while cutting several publicly traded companies whose revenue is more directly tied to trading activity, transaction volumes or consumer financial services.
Smaller additions include Solana staking exposure
Ark also bought $289,167 in Bitmine shares and approximately $32,667 in the 3iQ Solana Staking ETF, according to the disclosure.
The 3iQ fund is designed to provide Solana exposure alongside staking rewards. Staking involves committing tokens to help secure and operate a proof-of-stake blockchain in exchange for network rewards. For fund managers, a staking product can offer exposure to the underlying token while incorporating the income generated through the network’s validation process.
The purchase was small beside the SpaceX allocation and the sales of Robinhood, Block and Bullish. Even so, it keeps Ark connected to an area of the digital-asset market where returns can depend on network participation as well as token price movements.
Solana staking has become a more prominent product feature as asset managers seek ways to package blockchain-native yields within regulated fund structures. The approach also introduces distinct risks, including changes in token prices, validator performance, staking rules and any restrictions affecting the ability to enter or exit staking positions.
Ark’s disclosure did not provide a detailed rationale for the Bitmine or 3iQ trades. The comparatively modest size of both purchases suggests they were portfolio adjustments rather than a shift on the scale of the SpaceX transaction.
SpaceX purchase follows a volatile month
SpaceX accounted for the overwhelming majority of Ark’s buying on Tuesday. At $12.2 million, the purchase was more than 40 times larger than the firm’s Bitmine addition and hundreds of times larger than its 3iQ Solana Staking ETF purchase.
The timing followed a difficult month for the SpaceX position, with the shares down 29% over the preceding 30 days despite Tuesday’s gain. That decline would have reduced SpaceX’s weight in portfolios holding the company, potentially creating room for Ark to add shares under its 10% cap.
SpaceX remains one of the most closely watched private technology companies because of its launch business, Starlink satellite-internet network and long-term ambitions in space transportation. For Ark, the holding offers exposure to infrastructure that sits outside the consumer brokerage and payments businesses represented by Robinhood and Block.
The combination of trades shows Ark concentrating its largest disclosed allocation on a company with space, communications and infrastructure operations while lowering exposure to several market-facing financial platforms. The smaller Solana staking ETF purchase adds a separate form of blockchain exposure, tied to network rewards rather than the revenue models of brokers or exchanges.
Ark’s next disclosures will show whether Tuesday’s activity develops into a sustained portfolio rotation or remains a routine rebalance within the firm’s actively managed ETF strategies.
Want deeper insight into Ark-style ETF moves and crypto exposure? Explore our latest market overview on ETFs and how they work.
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