ARK Invest Sells Crypto-Related Stocks, Increases Stakes in SpaceX and Tesla

On July 30, 2026, Cathie Wood's Ark Invest signaled a major shift in its innovation strategy by selling off shares of crypto-centric companies Bitmine and Block, while investing over $14 million into Elon Musk's SpaceX. This move occurred amidst a general downturn in crypto-related stocks and represents a tactical rotation from digital asset infrastructure toward frontier aerospace and autonomous driving technology.

This portfolio restructuring reflects Ark's intention to shift capital into aerospace and AI technology stocks amid intensifying market volatility in late July 2026. In particular, it reveals a strategic intent to diversify risk by reducing exposure to crypto infrastructure stocks and focusing on physical assets and next-generation technologies.

In a report released on July 30, 2026, Ark Invest stated that it had sold shares of Bitmine Immersion Technologies (BMNR) and Block (SQ). This aligns with the recent decline in the stock prices of these companies during the crypto market's correction phase, and the market is interpreting this as a tactical retreat for risk management. Block, in particular, was a key stock bridging fintech and crypto infrastructure, but its weighting has been reduced during this reorganization process.

We believe that disruptive innovation will overcome temporary market volatility and drive long-term growth, and we are reallocating capital to the most efficient sectors.

Bitmine had previously shown strong volatility, with its stock price rising more than 3.6% on July 21, 2026, following a surge in Ethereum-related transactions. It appears that Ark Invest decided to sell to realize profits from this volatility or to move funds into more stable growth stocks. While Bitmine's third-quarter revenue was reported at $46.5 million, analysts suggest that its revenue structure, which is linked to Ethereum prices, acted as a burden in terms of portfolio stability.

Aggressive Investment in SpaceX and Tesla

ARK Invest has allocated a significant portion of the funds from the sale of cryptocurrency-related stocks into SpaceX, Elon Musk's private aerospace company. Between July 29 and 30, 2026, a total of 128,932 shares of SpaceX were newly acquired, amounting to approximately $14.5 million. This investment is classified as a 'BuyNew' position within the ARK Innovation ETF (ARKK) and demonstrates Cathie Wood's strong confidence in the aerospace industry.

• Tesla (TSLA): Additional purchase of approximately $341,400 on July 29, 2026
• BWX Technologies (BWXT): New purchase of approximately $1.6 million
• 10x Genomics (TXG): Full divestment of approximately $1.1 million
• Twist Bioscience (TWST): Full divestment of approximately $1.2 million

Tesla (TSLA) is also a key pillar of this portfolio restructuring. ARK further strengthened its investment in AI and autonomous driving by purchasing approximately $341,400 worth of Tesla stock on July 29. According to ARK's latest report, Tesla is evolving beyond a simple electric vehicle manufacturer into an AI company through its 'Megapack' and 'Optimus' robot projects, which aligns with the long-term innovation value pursued by ARK.

This series of transactions shows that ARK Invest is taking advantage of market volatility at the end of July to eliminate risk factors in its portfolio and concentrate resources on private companies and AI tech stocks with more certain growth potential. The sale of genetics-related stocks 10x Genomics and Twist Bioscience, along with the purchase of energy and defense tech stock BWX Technologies, is also evaluated as part of the same portfolio optimization process.

Current Status of Cryptocurrency Portfolio

Although the weight of Bitmain and Block has decreased, ARK Invest still maintains a large cryptocurrency portfolio. According to disclosure documents from the first half of 2026, ARK holds approximately 4.5 million shares of Circle (CRCL) and 6 million shares of Robinhood (HOOD), each valued at over $400 million. It also holds approximately 2.37 million shares of Coinbase (COIN), maintaining a high level of long-term exposure to the cryptocurrency market.

However, ARK has been gradually reducing its weight in certain cryptocurrency stocks, such as Coinbase, since early 2026. This is part of a strategy to avoid excessive concentration in a specific sector and to seek portfolio diversification. The sell-off in July also appears to be an extension of this long-term asset allocation strategy, with the secured cash being utilized for investments in private companies like SpaceX.

August Market Outlook and Key Points to Watch

As we enter August 2026, market attention is focused on the performance of new stocks purchased by ARK. In particular, the test of SpaceX's next-generation launch vehicle and Tesla's entry into the commercialization phase of robotaxis are expected to be major turning points that will determine ARK Invest's second-half returns. Cathie Wood is expected to continue her aggressive investment stance for the remainder of 2026, substituting the volatility of virtual assets with the growth potential of space and AI.