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FollowingArk Invest bought shares of Circle Internet Group and SpaceX at the same time on August 5. The two stocks moved very differently that day, with a total investment of tens of millions of dollars.
Ark's three funds bought a total of 273,343 shares of Circle stock, including the Ark Innovation ETF (ARKK), the Ark Next Generation Internet ETF (ARKW), and the Ark Blockchain and Financial Technology Innovation ETF (ARKF). Circle closed up slightly 0.05% at $63.28 on the day, based on which Ark's purchase amount was approximately $17.3 million.
Circle released second-quarter earnings report: USDC expanded in size, with revenue reaching US$701 million.
Circle announced its second-quarter results on the same day, reporting total revenue and reserve income of US$701 million, a year-on-year increase of 7%. Adjusted EBITDA increased 8% to $143 million. USD Coin (USDC) in circulation was US$73.3 billion at the end of the quarter, an increase of 19% from the same period last year; on-chain transaction volume reached US$14.8 trillion, a year-on-year surge of 151%.
According to Ark's investment rules, a single position cannot exceed 10% of the fund's portfolio to maintain diversification. Circle currently ranks ninth in the ARKK fund, with a weight of 3.68%, and the total value in the fund alone reaches US$223.4 million.
SpaceX revenue surges but stock price drops
Ark also purchased 181,830 shares of SpaceX stock on August 5, distributed among ARKK, Ark Autonomous Technology and Robotics ETF (ARKQ), ARKW, and Ark Space and Defense Innovation ETF (ARKX). Based on the day's closing price of US$108.27, the position is worth approximately US$19.7 million. SpaceX shares fell 13.61% on the day, falling below the $135 IPO price.
The decline in stock prices came as SpaceX reported second-quarter revenue of US$7.8 billion, a year-on-year increase of 92%. But investors paid more attention to the company's capital expenditures of US$18.4 billion in the quarter, which was six times higher than the same period last year. SpaceX management attributed the increase in spending to the expansion of the company's artificial intelligence capabilities. Elon Musk said he currently expects SpaceX to reach annual revenue of US$1 trillion in 2029 or 2030, earlier than the company's previous estimate of 2031.
