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Cathie Wood’s ARK Invest To Beat BlackRock, Fidelity In SEC Tokenized Fund Race

A pending exemptive application would let ARK Venture Fund record ownership of a new share class using distributed ledger technology and trade it on registered ATS venues. Hearing requests are due Sept. 18.

ARK Investment Management has asked the U.S. Securities and Exchange Commission for permission to issue a share class of its venture fund whose ownership is recorded using distributed ledger technology, according to an application on file with the agency. The SEC published notice of the request on Aug. 24 and set a Sept. 18 deadline for hearing requests, after which it can grant an order.

ARK is pursuing the tokenized class through the standard exemptive application route rather than waiting on the tokenization relief the SEC has signaled but not issued. The application asks for no relief on the blockchain mechanics themselves, stating in a footnote that the applicants "are not seeking exemptive relief with respect to whether or how distributed ledger technology is used by a Fund to maintain a record of its shareholders."

The applicant is ARK Venture Fund, a continuously offered closed-end interval fund that held $562 million in total assets as of Jan. 31, according to its semi-annual report. Its existing Class D, Class S and Class U shares priced at $49.83, $49.69 and $49.70 as of May 15, for an aggregate non-affiliate market value of about $912.6 million. The fund is separate from the $6.55 billion ARK Innovation ETF, which sits in another registrant, ARK ETF Trust.

Two New ClassesARK and the fund filed the application on May 20 and amended it on June 11 and Aug. 7 under file number 812-16031. It would amend a prior order granted in November 2025 that permitted multiple share classes. The application for that order, ARK writes, "included a representation that '[s]hares of the Funds will not be listed on any securities exchange, nor quoted on any quotation medium.'"

The amended order would create two classes. An Exchange Class would list on a national securities exchange. A Tokenized Class would have ownership "recorded using distributed ledger technology" and could trade on alternative trading systems registered under Regulation ATS, on other quotation mediums, or through peer-to-peer transfers between whitelisted wallets. ARK is not seeking relief to list or quote the tokenized shares on decentralized finance platforms.

Tokenized Class shares would be issued through the fund's subscription process at net asset value, sold without a sales load, and distributed either by registered broker-dealers or directly by the fund's transfer agent. The class would carry its own costs, including transaction fees on share sales, repurchases and dividend distributions. ARK seeks relief under sections 6(c), 18 and 17(d) of the Investment Company Act and under Rules 23c-3 and 17d-1. Dechert is counsel on the application.

No Vendor NamedThe application does not name a tokenization provider, a transfer agent or a blockchain, referring only to "tokenization agents" and "the Fund's transfer agent" as expense categories. The Bank of New York Mellon is the fund's current transfer agent, administrator and custodian, according to the semi-annual report.

ARK Venture Fund holds equity in Securitize, which went public on the NYSE in July, alongside a $10 million convertible note at 5% due September 2028 that it acquired on Sept. 30, 2025. Securitize is the transfer agent for BlackRock's tokenized BUIDL fund and has signed tokenization deals across registered products.

Rules Still PendingThe regulatory framework ARK's tokenized class would operate under remains unfinished. The SEC has not adopted or formally proposed the tokenization "innovation exemption" that industry has expected, and The Defiant has reported on repeated delays to it. Chair Paul Atkins' Regulation Crypto Assets proposal of Aug. 18 covers offering exemptions for crypto asset issuers, not tokenized fund share classes, and is open for comment until Oct. 20.

The SEC on Sept. 1 also proposed its first overhaul of transfer agent rules in roughly four decades, citing the use of "blockchain technology in connection with securities offerings and the transfer of shares." That proposal, which The Defiant covered on publication, takes comments until Nov. 3.

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

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Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

This site is protected by reCAPTCHA.

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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Key Highlights Shares of RKLB advanced more than 3% during Wednesday’s pre-market session, building on Tuesday’s 2.51% increase. The aerospace company introduced its IMM Apex solar cell technology, boasting 31.5% efficiency while achieving a 40% reduction in weight compared to earlier models. By eliminating germanium substrates from its design, the innovation addresses supply chain vulnerabilities and cost concerns. On September 8, ARK Invest acquired 2,341 shares of RKLB, adding to more than $44 million in purchases made during the previous week. Analysts maintain a Strong Buy rating on RKLB, with a consensus price target of $108.88, suggesting approximately 65% potential upside. Shares of Rocket Lab experienced an approximate 3.1% increase during Wednesday’s pre-market hours, following Tuesday’s regular session close at $65.87, which represented a 2.51% gain. The pre-market momentum stems from two significant company developments that have captured investor attention.

Rocket Lab USA, Inc., RKLB

The primary catalyst involves a groundbreaking product release. Rocket Lab has introduced the IMM Apex, representing its latest-generation solar cell technology designed specifically for space operations. This advanced cell achieves 31.5% Beginning of Life conversion efficiency while delivering a 40% weight reduction versus predecessor models.

The distinguishing characteristic lies in its substrate-free architecture. By eliminating germanium substrates—a component that has been standard in conventional multi-junction solar cells for more than thirty years—Rocket Lab addresses concerns about dependence on a critical material experiencing escalating costs and supply chain disruptions.

Another advantage of the IMM Apex involves its compatibility design. The technology functions as a direct drop-in replacement for current satellite solar cells, enabling customers to implement the upgrade without significant hardware modifications, thus simplifying the transition process.

Brad Clevenger, President of Rocket Lab USA, noted that the cell “delivers exceptional performance while addressing real-world challenges like rising material costs and supply chain constraints.”

ARK Invest Continues Accumulation Cathie Wood’s ARK Invest expanded its Rocket Lab holdings on Tuesday, September 8, acquiring 2,341 shares via the ARK Space Exploration and Innovation ETF (ARKX) in a transaction valued at approximately $155,000.

This purchase follows a substantially larger buying spree. ARK accumulated over $44 million in RKLB shares across three exchange-traded funds on August 31 and September 1, establishing Rocket Lab as the firm’s largest disclosed equity addition by dollar value during that period.

These acquisitions position Rocket Lab among ARK’s most significant recent investments, complementing the firm’s strategic moves into financial technology, biotechnology, and cryptocurrency-related holdings.

Solid Operational Performance Supports Investment Thesis Rocket Lab’s solar technology portfolio carries substantial credibility in the industry. The company’s IMM platform has provided power for NASA’s Ingenuity Mars Helicopter and currently supports over 1,100 satellites in operation, including the renowned James Webb Space Telescope.

The organization successfully executed its 94th Electron mission in the past week, launching a satellite for Synspective and achieving its 15th launch milestone of 2026.

From a financial perspective, Rocket Lab delivered $234.1 million in second-quarter revenue, representing a 62% year-over-year expansion. The company’s contract backlog reached an all-time high of $2.36 billion.

RKLB currently maintains a market capitalization of $39.42 billion and has appreciated 38% during the trailing twelve-month period, although the stock remains down 13.32% on a year-to-date basis.

The equity trades within a 52-week range spanning from $37.57 to $151. Current technical indicators show an RSI reading of 40.94.

Based on data from TipRanks, RKLB maintains a Strong Buy consensus rating derived from 13 Buy recommendations and four Hold ratings issued over the past three months. The mean analyst price objective stands at $108.88, implying roughly 65% appreciation potential from present levels.

ARK Invest founder Cathie Wood’s ARK Innovation ETF purchased 28,589 shares of Robinhood (HOOD) on September 4. At the day’s closing price of $122.11, the stake is valued at roughly $3.5 million. The move marks a re-addition to Robinhood after Wood recently trimmed her holdings in the stock; she had previously sold 25,009 shares on August 26. Robinhood’s share price has surged over 30% in the past month, while Bitcoin rose around 23% over the same period to near $80,000. On September 4, Deutsche Bank lifted Robinhood’s price target from $115 to $136 and retained its “Buy” rating, citing that fee revenue from Robinhood Chain has grown far beyond expectations. Data shows the daily revenue of the chain stood below $200,000 in mid-August, but jumped to $3.38 million on September 1 and $4.01 million on September 2. Deutsche Bank projects its annualized run rate will exceed $100 million. As of September 4, Robinhood ranks as the seventh-largest holding in the ARK Innovation ETF, making up 4.28% of the fund’s weight. Separately, Wood has recently added positions in Veracyte, Intellia Therapeutics, and the 3iQ Solana Staking ETF, while trimming stakes in Tempus AI and Twist Bioscience.

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Data: The privacy sector's market cap surges to $33.6 billion, with ZEC jumping 2496% in a year to emerge as this year's biggest winner.

Over the 12-month period ending September 6, the top-performing sector in the crypto market has been privacy assets. The total market cap of privacy tokens has surged to $33.6 billion from $7.1 billion a year ago, representing a roughly 3.7x increase, with nearly half of this market cap growth coming in the past 30 days. ZEC is the core asset driving this sector’s rally, jumping 2496% over the past year. It accounts for around 62% of the total privacy sector market cap, and its ranking has surged from #82 to #7. Over the same period, XMR’s price doubled, while DASH, XMR, and ZEN all outperformed Bitcoin (BTC) in the past 90 days. 91.5% of the top 200 crypto assets by market cap have gained in the past 30 days, but only 25 assets have posted gains over the past year. Notably, the privacy sector is the only segment whose overall market cap is now higher than its peak on October 6, 2025, up 213% from that level. Beyond ZEC, the broader privacy asset index has still risen 85% over the past year, indicating this rally isn’t driven by a single token alone.

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The token issued by Pons has accounted for 73.5% of the total trading volume across all of Robinhood’s issuance platforms.

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Ansem has been repeatedly pumping ZCAT, the meme token linked to ZEC's dividend, whose market cap has surged past $92 million to a new all-time high.

Crypto trader Ansem has been repeatedly hyping Solana-based meme token ZCAT (Anonymous Cat). He stated: "Some say if it’s on Solana, its market cap will never reach $100 million. Well, just keep watching. Let’s win." According to GMGN data, ZCAT’s market cap briefly exceeded $92 million, hitting a new all-time high, surging over 330% in 24 hours, with 24-hour trading volume standing at $3.6 million. ZCAT is a cat-themed meme token built on Solana, inspired by Zcash (ZEC)’s privacy concepts, featuring an anonymous cat mascot wearing a brown paper bag on its head. It uses a ~3% transaction and transfer tax to purchase and airdrop bridged Zcash (ZEC) on Solana to its holders. BlockBeats reminds users that most meme coins lack practical use cases, are highly volatile, and investors should exercise caution.

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WLFI advisor Ogle is the actual top holder of PONS, holding 15.28 million PONS at an average price of $0.1.

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Altcoins rally broadly, with Layer 2 (L2) and DeFi sectors surging sharply. ARB, RAY, and SUSHI – the direct beneficiaries of the Meme craze – lead the market’s gains.

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BNB’s sharp rally drove a broad surge in its ecosystem meme coins, with Binance Life jumping more than 17% in the past 24 hours.

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BNB rises to $770, surging over 8% in 24 hours.

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Analysis: Bitcoin OG holders are accelerating the transfer of their holdings, with on-chain activity rising significantly.

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Wintermute has continuously purchased over $3 million worth of PONS tokens, and may launch on-chain market making.

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Meme coin Basecat hits $70 million market cap, setting a new all-time high.

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US Central Command: U.S. Military Sank Three Oil Tankers Belonging to Iran's Revolutionary Guard Corps

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ARK Invest has highlighted the rapid acceleration of AI adoption and infrastructure development, according to a recent social media post by CEO Cathie Wood. The firm, known for its focus on disruptive innovation, has long advocated for the transformative potential of AI technology. The post aligns with ARK’s “Big Ideas 2026” research, which projects significant increases in AI infrastructure spending. This perspective positions ARK Invest as a major influencer in discussions about AI’s economic impact, reflecting confidence in sustained growth for AI-related sectors.

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Key Takeaways ARK Invest’s commentary suggests positive momentum for AI infrastructure development, consistent with increased valuation expectations for companies in the sector. Market pricing appears to reflect a potential uptick in investor confidence towards AI firms, including Anthropic, in light of ARK’s optimistic outlook. The post reinforces the notion that AI is not just a trend but a significant long-term capital expenditure opportunity. What to Watch Markets will be observing any announcements from major AI companies like Anthropic that could affirm ARK’s projections, such as new funding rounds or strategic partnerships with tech giants like Amazon or Google. Additionally, further updates from ARK Invest regarding their AI-related forecasts could influence valuation expectations. With 117 days remaining until December 31, developments in AI infrastructure spending and adoption rates are key indicators to monitor for potential shifts in market sentiment.

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Term Structure

Contract Odds Δ since publish Volume 24h December 31 3.5% 0.0¢ $0 View market → December 31 26.5% 0.0¢ $5K View market → December 31 81.5% 0.0¢ $271 View market → January 1 2027 8.8% 0.0¢ $7K View market → January 1 2027 5.9% +0.1¢ $3K View market → January 1 2027 89% 0.0¢ $209 View market → January 1 2027 46.5% -1¢ $2K View market → January 1 2027 95% 0.0¢ — View market → January 1 2027 6% 0.0¢ $1 View market → January 1 2027 5.5% 0.0¢ $51 View market → Updated 3min ago

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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Key Takeaways PLTR shares declined approximately 3.5% to 4.6% on Tuesday, retreating from its recent 2026 peak of $186.38 Cathie Wood’s ARK Invest offloaded roughly 139,456 shares valued at $26 million on the final day of August Second-quarter results exceeded expectations, with revenue climbing 92.8% annually and earnings per share reaching $0.41 against $0.34 forecasts Current price-to-earnings ratio stands around 154x, a metric that continues to concern market observers A September 1 U.S. Army TITAN contract award failed to prevent Tuesday’s downturn Shares of Palantir (PLTR) experienced a decline ranging from 3.5% to 4.6% during Tuesday’s session, touching an intraday low of $179.75 before closing around $179.92. This represents a significant pullback from the $186.38 closing peak achieved just two trading days prior.

Palantir Technologies Inc., PLTR

The data analytics company has experienced exceptional volatility recently. Following an impressive second-quarter earnings release in early August, PLTR skyrocketed approximately 48% from its pre-announcement levels. The company delivered $1.94 billion in quarterly revenue, representing a 92.8% year-over-year increase that handily surpassed the $1.81 billion analyst consensus. Per-share earnings of $0.41 exceeded expectations by $0.07, beating the $0.34 estimate.

Despite these recent advances, the stock remains below its 52-week pinnacle of $207.52.

Tuesday’s trading activity registered 47% below typical volume levels, indicating the selloff appeared methodical rather than fear-driven, likely representing strategic profit-taking.

Continued Selling from ARK Invest The most identifiable headwind facing PLTR comes from Cathie Wood’s ARK Invest. The investment firm disposed of approximately 139,456 Palantir shares on August 31, totaling roughly $26 million in value. This transaction continues ARK’s pattern of reducing exposure throughout August, with proceeds being reallocated toward positions in Block and Rocket Lab.

ARK’s strategy of systematically trimming positions during price strength since the earnings announcement has become increasingly apparent to market participants.

Company insiders have maintained steady selling activity as well. The previous 90-day period saw insider transactions totaling 720,166 shares with an aggregate value approaching $116.8 million. Shyam Sankar executed a sale of 35,000 shares at $155.70 on August 6, while Jeffrey Buckley sold 1,250 shares at $174.29 on August 21. Both disposals occurred through predetermined 10b5-1 arrangements.

Premium Valuation Remains Contentious Trading at approximately 154 to 155 times trailing earnings, the valuation metric remains impossible to overlook. Analysts maintain a consensus target price of $192.19 alongside a “Moderate Buy” recommendation. Needham projects a $215 target, Northland Securities established a $200 objective, and Phillip Securities recently elevated their target to $202.

However, such elevated multiples create vulnerability, where even minor sentiment shifts can trigger disproportionate price corrections.

Encouragingly, Palantir expanded its customer roster by 24% to reach 1,049 clients. Commercial segment revenue now trails government revenue by merely $45 million and may potentially surpass it within the coming quarter.

Army Contract Announcement Palantir received favorable news on September 1 when it secured a U.S. Army TITAN ground station production agreement, advancing from the prototype stage to full production. While this development couldn’t counteract Tuesday’s selling momentum, it strengthens an already robust government contract pipeline.

Pentagon-related demand is nearing a $1 billion annualized run rate. Baird maintained its Outperform designation, and Zacks recently elevated PLTR to “Strong Buy” status.

Broader market conditions weren’t responsible for Tuesday’s weakness. Both the S&P 500 and Nasdaq posted modest gains, making PLTR’s decline distinctly company-specific.

Technical indicators show the 50-day moving average positioned at $145.10, with the 200-day moving average at $142.38, both substantially beneath current trading levels.

ARK Invest and Glassnode published a joint study on Sept. 1 that found three entities could cross the measured block-production thresholds for both Bitcoin and Ethereum, while Solana required 19.

Summary

Bitcoin reaches its 51% hash-rate threshold through three mining pools, according to the joint report. Ethereum requires three staking entities to exceed 33%, although pooled delegation complicates direct control assumptions. Solana’s Nakamoto coefficient is 19, but nearly all measured infrastructure operates inside commercial data centers. Bitcoin’s infrastructure is comparatively dispersed, with 63% of measured nodes operating anonymously through Tor networks. Ethereum hosts roughly 49% of execution-layer nodes in clouds, including 20% through Amazon Web Services. The 32-page report, titled The Decentralization Spectrum: Design Tradeoffs in Digital Assets, compares the networks across ownership, exit fluidity, verification costs, critical resilience, reconstruction costs and infrastructure distribution.

The findings do not mean three companies control Bitcoin or Ethereum. The metric counts mining pools and staking platforms as entities, even when the underlying hardware, stake or node operators belong to separate participants who may withdraw or redirect their resources.

Bitcoin’s three-pool threshold does not equal ownership The report applied a 51% hash-rate threshold to Bitcoin. Foundry USA represented 27.27% of the measured hash rate, followed by AntPool at 17.06% and F2Pool at 16.96%. Together, the three pools exceeded 61%.

This produced a Nakamoto coefficient of three, defined as the minimum number of measured entities needed to cross a network’s critical production threshold. ViaBTC controlled another 9.50%, while SpiderPool represented 5.82%.

Mining pools coordinate block construction and distribute rewards, but they do not necessarily own the machines producing their hash rate. Independent miners connect to pools to receive steadier income and can redirect their computing power elsewhere.

That mobility limits how closely pool concentration can be equated with permanent control. The report estimated a Bitcoin miner could switch a 1% hash-rate position in approximately 29 seconds. A coordinated attack or censorship attempt could prompt participants to leave the responsible pools.

Pools still influence transaction inclusion and ordering because they usually provide the block templates miners use. Pool concentration therefore represents an operational risk, even if it overstates the concentration of underlying mining ownership.

The issue is not new. Earlier crypto.news reporting found that two mining pools produced a majority of sampled Bitcoin blocks in late 2022. Pool shares have changed since then, but production continues to be concentrated among several large coordinators.

Ethereum crosses a lower threshold through pooled stake ARK and Glassnode applied a 33% stake threshold to Ethereum because participants controlling one-third of staked ETH can disrupt finality. This differs from Bitcoin’s 51% majority threshold, so the two coefficients do not describe identical powers.

Lido represented 23.04% of staked ETH in the report’s July data. Binance controlled 8.88%, and Kraken held 6.91%. Those three entities collectively represented approximately 38.8%, taking Ethereum above the selected threshold.

Lido is not a single validator. It distributes stake among multiple node operators, although those operators participate through a common protocol and governance framework. The report therefore treats Lido as shared infrastructure that aggregates economic weight rather than one machine or company directly controlling every validator.

Ethereum’s exit mechanics also restrict validator mobility. The report estimated that exiting a 1% position would take around 14.6 days under current conditions and as long as 55.6 days under heavy congestion. That is much slower than redirecting Bitcoin hash rate.

Client diversity provides another layer of resilience. The study placed Geth’s execution-client share at 34.88%, followed by Nethermind at 26.96% and Reth at 18.98%. Lighthouse represented 54.16% of consensus clients.

Different clients independently implement Ethereum’s rules, reducing the portion of the network exposed to one software defect. The relationship between Ethereum nodes and their software clients means validator concentration alone cannot describe the network’s full failure risk.

Solana’s 19-validator result comes with infrastructure costs Solana recorded the highest Nakamoto coefficient for the selected block-production threshold. The report found that 19 validators were needed to control more than 33% of delegated stake.

Figment was the largest individual validator at 3.78%, followed by Helius at 3.69%, Jupiter at 2.91%, Binance Staking at 2.81% and Ledger by Figment at 2.16%. The remaining 84.65% was spread across other validators.

One passage in the report says Solana requires 20 entities, but its chart, comparison table and published Glassnode summary all report a coefficient of 19. The table also says the figure increased from 18 in March 2026.

Solana’s validator distribution performed well on this particular measure, but its physical infrastructure was more concentrated. Approximately 100% of the infrastructure measured by the researchers operated in commercial data centers. About 68% was in Europe, while 21% was in North America.

TeraSwitch hosted 30.23% of measured stake, and the top two hosting companies served around 35.7%. Common infrastructure can create correlated failures even when the validator set contains many separate operators.

That risk became visible in August when 102 of 699 Solana validators stopped voting during a TeraSwitch routing problem. Solana continued processing transactions, but the episode showed how one infrastructure failure can affect multiple otherwise independent validators.

The report used Solana geographic data from November 2024, while most Bitcoin and Ethereum infrastructure data came from July 2026. That timing difference limits direct comparisons and leaves room for Solana’s distribution to have changed.

Bitcoin leads infrastructure resilience and auditability Bitcoin had the least expensive verification requirements in the study. The researchers estimated hardware for a full node at $289, compared with $730 for Ethereum and $21,478 for a Solana RPC node or validator-class configuration.

Its measured full-chain storage requirement was 753 gigabytes. Ethereum required approximately two terabytes for a full archive setup, while reconstructing Solana’s history was estimated at 480 terabytes because historical data is commonly offloaded to external providers.

Bitcoin also had the most distributed hosting profile. Only 16% of measured infrastructure operated in data centers, while 63% of nodes used Tor. Another 15% was residential or self-hosted.

Ethereum placed approximately 49% of execution-layer nodes in cloud environments and 45% in self-hosted settings. AWS alone hosted around 20%, while the top two providers accounted for approximately 27%.

Solana’s higher hardware and bandwidth demands reflect its focus on throughput. The tradeoff is that fewer ordinary users can independently recreate or verify the full network history using consumer equipment.

No single score settles blockchain decentralization The report ultimately ranked Bitcoin as the most decentralized of the three networks overall, followed by Ethereum and Solana. Bitcoin led in ownership distribution, auditability and geographic resilience.

Ethereum generally occupied the middle across the six dimensions. Solana scored strongly for its critical resilience threshold and validator participation but ranked lower for ownership distribution, verification accessibility and infrastructure diversity.

The methodology remains sensitive to how entities are grouped. Exchanges can hold tokens for many customers, mining pools aggregate independent miners, and staking protocols coordinate multiple operators. Wallet-size bands can likewise combine custodial assets belonging to thousands of users.

The comparison is therefore more useful as a map of separate concentration risks than as a definitive ranking. A network may distribute block production broadly while relying heavily on several hosting companies, software clients or governance organizations.

Future editions could improve comparability by using synchronized data dates, separating pools from underlying resource owners and distinguishing censorship thresholds from thresholds capable of rewriting finalized history.

FAQs Do three entities control Bitcoin? No. Three measured mining pools exceeded 51% of hash rate, but independent miners supply much of that computing power and can change pools.

Can three Ethereum platforms rewrite the blockchain? The report’s three-entity figure concerns the 33% stake threshold associated with disrupting finality. It does not represent the stronger two-thirds threshold needed for other consensus actions.

Why does Solana score 19? The 19 figure is the minimum number of validators whose combined delegated stake exceeds the report’s 33% threshold.

Which blockchain did the report rank as most decentralized? Bitcoin ranked highest overall due to its accessible verification, dispersed ownership and comparatively resilient geographic infrastructure.

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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On Monday, Cathie Wood’s Ark Invest added to its crypto-related investments by acquiring almost $40 million in shares of two big cryptocurrency firms: Block Inc. and Circle Internet Group.

Cathie Wood’s ARK Scoops Up Block Inc. & Circle Shares Cathie Wood-backed ARK Invest’s updated daily trading data revealed the firm had bought 456,059 shares of Block, Jack Dorsey’s startup. At the closing price of $82.02 on Monday, the cost of acquisition came at around $37.4 million. These purchases were divided between the ARK Innovation ETF (ARKK), the ARK Next Generation Internet ETF (ARKW) and the ARK Blockchain & Fintech Innovation ETF (ARKF).

Block closed the trading day 1.85% lower. Ark has made numerous additions to its Block position this year when markets have been down.

The investment manager purchased 236,759 Block shares worth about $17.2 million in June. Then, it was back to the drawing board with another purchase of 19,029 shares in July valued at approximately $1.52 million.

Cathie Wood-led ARK also gained further foothold in Circle stock with a new purchase. The company bought 35,192 shares of the stablecoin issuer. This is valued at approximately $3.36 million, based on Monday’s closing price of $95.55.

Unlike Block, Circle stock had positive gains at the end of the session. The CRCL share price rose 9.65% from Friday’s loss of 7.5%, which followed a decline of 4.5% in the 12 months leading up to the end of September.

The transaction is the latest in ARK’s quest to grab as much Circle as possible during 2026. It bought 220,012 shares in July for approximately $13.9 million when its stock price fell below $64.

In its last trading period that same month, Cathie Wood’s ARK purchased an additional 109,129 shares worth approximately $6.83 million after receiving the approval of a limited-purpose trust charter issued by the New York Department of Financial Services in the case of Circle.

What’s Happening With Block Inc. & Circle? A few months ago, Block reported solid second-quarter financials. Gross profit grew by 25 percent compared to the same quarter last year to $3.17 billion. Square’s gross profit was $1.16 billion and Cash App’s was $1.97 billion. Earnings per share, net of dilution, increased to $1.02.

The company also raised its 2026 forecast. Now it’s calling for $12.51 billion in gross profit and $3.47 billion in adjusted operating income annually. Block also increased its holdings of the crypto in June by purchasing 85 more BTC, which raised its total holdings in the treasury to 9,117 BTC.

At the same time, the number of USDCs in circulation was $73.3 billion and the Circle reported its second quarter revenues at $701 million. Meanwhile, ahead of Cathie Wood’s purchase, Bernstein set a $140 price target for the CRCL stock with an ‘Outperform’ rating.

For tokenized stock trading visit our page on Best Platforms to Trade Tokenized Stocks.

FUNVERSE’s first blockchain game, FUN LONGINUS, will go live on the Anubis Chain mainnet today.

According to official announcements, FUNVERSE’s debut on-chain game *FUN LONGINUS* will launch officially on the Anubis Chain mainnet at 10:00 UTC on September 1, 2026 (18:00 UTC+8). Derived from a hackathon, *FUN LONGINUS* is an Eastern wuxia-themed on-chain game built for the Anubis GameFi ecosystem. Its on-chain gameplay centers on classic wuxia elements including jianghu (martial arts community), battle arenas, master-disciple bonds, annual stipends (jiazi feng), alliance leader orders, and Huaze magical artifacts. The game adopts the 24 solar terms as its competitive structure: each match features 24 distinct addresses entering the arena together, with players using fLGNS tokens to participate. Match execution, result adjudication, and final settlement are all executed via smart contracts, culminating in one alliance leader being crowned. All match records, reward distributions, master-disciple relationships, and players’ jianghu resumes are stored on-chain. On August 18, *FUN LONGINUS* completed its “Heroes’ Joint Forging” event. As of press time, the total value of this joint forging exceeds $1.4 million at current market prices.

7 minutes ago

The three major U.S. stock index futures extended their downward trend, with Nasdaq futures falling by 1%.

Per market data from BIT (Bit.com), the three major U.S. stock index futures extended their decline: Nasdaq futures fell 1%, S&P 500 futures dropped 0.54%, and Dow futures slipped 0.49%.

7 minutes ago

MARSCOIN rallied over 40% in a short period following its listing on Binance's derivatives contracts.

According to GMGN market data, MarsCoin (MARSCOIN) experienced a rapid short-term rally driven by news of its listing on Binance derivatives contracts. Its market capitalization once climbed to around $69.74 million, and as of press time, MARSCOIN’s market cap stands at approximately $65.05 million, with a 24-hour increase of 44.38%.

7 minutes ago

HashKey Exchange will launch FDUSD today, restricted to professional investors only.

According to official announcements, HashKey Exchange has announced the listing of the First Digital USD (FDUSD) token, which is restricted exclusively to professional investors. Users can now deposit and withdraw funds via the Ethereum ERC20 network. The spot trading pairs FDUSD/USD, BTC/FDUSD, and ETH/FDUSD will go live at 16:00 (UTC+8) on September 1, 2026.

7 minutes ago

Gemini 3.8 Flash: Coming Tomorrow? Reports Claim Production Deployment Completed

Beating AI Flash News: Gemini 3.8 Flash is reportedly set to launch imminently. Leaker lyra claims gemini-3.8-flash has completed deployment and will release "tomorrow". Last week, Business Insider obtained internal screenshots showing Gemini 3.8 Flash Preview on Google’s internal coding platform Jetski. A testing employee noted the model is significantly better than Gemini 3.7 Flash. Gemini 3.8 Flash’s internal codename is skimaki. The update primarily addresses issues exposed by Gemini 3.7 Flash while reducing generic, verbose "AI fluff". Notably, Gemini 3.7 Flash launched as recently as August 13, with the gap between the two versions being less than three weeks.

7 minutes ago

Binance will list MARSCOINUSDT perpetual contracts with up to 20x leverage.

According to an official announcement, Binance Futures will launch the MARSCOINUSDT perpetual contract at 09:45 UTC on September 1, 2026, with a maximum leverage of 20x. MarsCoin is a meme token built on BNB Chain, which distributes SPCXB (a tokenized stock asset) to its holders. The contract’s specifications are as follows: minimum trade size of 1 MARSCOIN, minimum notional value of 5 USDT, funding rate cap of +2%/-2%, settlement every 4 hours, support for multi-asset margin mode, and 24/7 trading. Contract copy trading will be available within 24 hours of the contract’s launch.

7 minutes ago

Key Highlights ARK Invest acquired 57,705 shares of Broadcom valued at $20.5 million in anticipation of Q3 earnings The firm divested 37,977 AMD shares across four ETFs, totaling approximately $18.2 million Additional purchases included Cerebras Systems and Cloudflare, collectively worth $26 million Broadcom’s Q3 results scheduled for September 3 with analysts projecting 83.3% revenue growth year-over-year TipRanks rates Broadcom as a Strong Buy with projected upside of 43.4% from current trading levels In a strategic portfolio adjustment on Wednesday, August 26, Cathie Wood’s ARK Invest committed $20.5 million to Broadcom shares while simultaneously divesting $18.2 million in Advanced Micro Devices holdings.

The investment firm secured 57,705 shares of Broadcom distributed across its various ETFs. This acquisition comes ahead of Broadcom’s scheduled fiscal third-quarter earnings announcement on September 3.

Broadcom Inc., AVGO

Analyst consensus projects Broadcom’s Q3 revenue will reach $29.24 billion, representing an 83.3% increase compared to the previous year. Adjusted earnings per share are anticipated to land at $3.21, a significant jump from $1.69 recorded in the same quarter last year.

Market participants are particularly focused on AI semiconductor revenue performance. Broadcom has projected this division will generate $16 billion during the quarter, exceeding double the prior-year results.

RBC Capital’s analyst Srini Pajjuri anticipates a modest earnings surprise with elevated forward guidance. He highlighted robust expansion in Broadcom’s networking division as a primary catalyst.

While Pajjuri acknowledged emerging TPU market competition from MediaTek and a supply agreement between Google and Marvell, he maintains confidence that Broadcom’s existing long-term agreements and expanding TPU market penetration will sustain the company’s growth trajectory over coming years.

According to TipRanks data, Broadcom maintains a Strong Buy consensus rating supported by 24 Buy recommendations and three Hold ratings. The consensus price target of $509.96 implies potential upside of 43.4% from present trading levels. The stock has gained 3.1% year-to-date.

Second AMD Reduction This Week for ARK Concurrent with the Broadcom acquisition, ARK was reducing its exposure to Advanced Micro Devices. The firm liquidated 37,977 AMD shares distributed across four ETFs, generating approximately $18.2 million in proceeds.

This transaction wasn’t a standalone decision. ARK executed a similar AMD share sale earlier in the week, indicating a strategic position reduction.

The reallocation signals ARK is repositioning within semiconductor holdings, preferring Broadcom’s artificial intelligence business exposure compared to AMD.

Additional Wednesday Trading Activity ARK acquired 69,585 shares of Cerebras Systems valued at approximately $12.8 million alongside 47,794 Cloudflare shares worth roughly $13.3 million.

Among dispositions, ARK sold 181,919 Tempus AI shares generating $12.5 million and 53,280 Twist Bioscience shares for $8.1 million.

The firm also divested 14,339 CrowdStrike shares worth $2.7 million and 25,009 Robinhood Markets shares for $2.8 million.

Minor sales encompassed 14,965 Roblox shares generating $585,430 and 25,000 Brera Holdings shares for $105,500.

This trading activity occurred on the same day Nvidia announced Q2 FY27 financial results, delivering adjusted earnings per share of $2.22 versus expectations of $2.09, accompanied by revenue climbing 106% year-over-year to $96.2 billion.

ARK’s Wednesday portfolio adjustments underscore its continued emphasis on artificial intelligence-connected enterprises, with Broadcom, Cerebras, and Cloudflare all receiving fresh capital allocations.

Key Highlights Mizuho’s Jordan Klein views Broadcom’s recent decline as an attractive entry point near $370 ahead of the company’s September 2 earnings release CEO Hock Tan has avoided consecutive negative post-earnings reactions for approximately 30 quarters, spanning nearly seven years Concerns about Google developing proprietary ASIC chips and potentially reducing Broadcom’s hyperscaler business represent the primary headwind ARK Invest acquired approximately $20.6 million worth of Broadcom shares while simultaneously trimming its AMD holdings by roughly $18.2 million Historical patterns show Broadcom typically experiences price swings 2 to 3 times larger than NVIDIA after quarterly reports, amplifying the significance of the upcoming release Shares of Broadcom have declined by mid-teen percentages over the last two weeks, but Mizuho TMT Sector Specialist Jordan Klein believes this pullback presents a compelling opportunity. As the company prepares to report earnings on September 2, Klein highlights what he characterizes as an asymmetric risk-reward profile at the $370 level.

Broadcom Inc., AVGO

Klein’s thesis centers heavily on market sentiment. He describes current positioning in AVGO as the “total opposite” of where it stood three months earlier, when shares entered early June earnings with considerable bullish momentum before plunging approximately 12% in a single session following disappointing forward guidance.

The primary concern pressuring shares currently revolves around Google. Market participants fear that Alphabet’s initiative to design proprietary application-specific integrated circuits will diminish Broadcom’s sales to major hyperscale cloud providers.

While Klein acknowledges this challenge as legitimate, he believes the market has fully incorporated this risk and possibly overreacted. His assessment suggests that consensus expectations have reached peak negativity, which frequently precedes sentiment reversals.

CEO Hock Tan’s Proven Performance Klein’s investment thesis draws significantly from historical patterns. He emphasizes that CEO Hock Tan has avoided consecutive negative stock reactions following earnings announcements for nearly 30 quarters—approximately seven consecutive years.

Competitive dynamics also factor into Klein’s analysis. Both NVIDIA and Marvell Technology have recently emphasized accelerating revenue trajectories during their respective earnings presentations. Klein suggests Tan will likely counter these narratives aggressively.

“No way he sits by and lets the shorts manhandle his stock,” Klein stated in Mizuho’s research note. His expectation centers on management proactively addressing the Google market-share concerns while providing optimistic revenue forecasts extending into 2027 and 2028.

Klein isn’t forecasting a dramatic 25% surge. Instead, his perspective maintains that the risk-reward equation at the $370 price point tilts favorably toward upside potential over a six-month-plus timeframe. NVIDIA continues as Mizuho’s primary semiconductor recommendation, with Broadcom positioned as a complementary play.

ARK Invest Increases Broadcom Stake Cathie Wood’s ARK Invest expanded its Broadcom holdings on Wednesday, purchasing approximately 57,705 shares distributed across several ETFs totaling about $20.6 million. Simultaneously, ARK divested approximately 37,977 AMD shares valued at roughly $18.2 million across four different funds.

This AMD reduction represented a continuation of earlier selling activity during the week, suggesting an ongoing reallocation within ARK’s AI semiconductor portfolio.

ARK also accumulated approximately $12.8 million in Cerebras shares and about $13.3 million in Cloudflare during the same trading session.

A key factor elevating the importance of the September 2 announcement involves Broadcom’s characteristic earnings volatility. Mizuho research indicates AVGO historically experiences price movements 2 to 3 times greater than NVIDIA following quarterly results, regardless of direction.

Market participants will focus on two critical elements from Tan’s presentation: specific commentary regarding the ongoing Google ASIC partnership, and detailed revenue guidance for fiscal years 2027 and 2028 related to AI-driven opportunities.

Mizuho’s note did not include a specific price target or formal rating recommendation for AVGO shares.

Key Highlights On August 28, ARK Invest divested 156,286 AMD shares valued at $74.5 million The fund acquired 243,707 Nvidia shares valued between $53-55.6 million following a post-earnings decline ARK accumulated 55,131 Broadcom shares worth $20.5 million in anticipation of September 3 earnings Nvidia delivered Q2 revenue of $96.2 billion, representing 106% year-over-year growth, with Q3 projections at $108 billion The Ark Innovation ETF experienced net redemptions of $2.09 billion during the trailing 12-month period On August 28, Cathie Wood’s ARK Invest executed a significant rebalancing of its semiconductor holdings, divesting $74.5 million in Advanced Micro Devices shares while simultaneously establishing positions in both Nvidia and Broadcom.

The investment firm liquidated 156,286 AMD shares distributed across its various exchange-traded funds. This transaction represented ARK’s second consecutive day of AMD reduction, having previously sold approximately 37,977 shares valued at $18.26 million on August 27. Despite these sales, AMD stock has climbed 117.4% since the beginning of the year.

Advanced Micro Devices, Inc., AMD

ARK Accumulates Nvidia Following Post-Earnings Correction ARK purchased 243,707 Nvidia shares, representing approximately $53 million in value calculated at the August 28 closing price of $217.55. This acquisition occurred one trading session after Nvidia experienced an 8.9% surge on robust quarterly results, subsequently retreating 4.5%.

The chipmaker disclosed fiscal second-quarter revenue reaching $96.2 billion, marking a 106% increase compared to the prior-year period. Adjusted earnings per share totaled $2.22, surpassing analyst expectations of $2.10.

Management provided third-quarter revenue guidance of approximately $108 billion, exceeding the consensus estimate of $104.19 billion from Wall Street analysts. Nvidia’s chief financial officer indicated the company anticipates roughly 70% revenue expansion through fiscal 2028.

Following the earnings release, multiple Wall Street analysts elevated their price objectives. JPMorgan increased its target from $280 to $320. Bank of America maintained its buy recommendation with a $350 price target, designating Nvidia as a preferred selection. Melius Research established the Street’s highest target at $420.

Nvidia shares have appreciated approximately 16.6% year to date.

Strategic Broadcom Purchase Precedes Quarterly Results ARK simultaneously acquired 55,131 Broadcom shares totaling $20.5 million in value. This transaction followed an earlier Broadcom purchase executed during the same week.

Broadcom is scheduled to announce its fiscal third-quarter financial performance after trading concludes on September 3. Analyst consensus projects revenue of $29.24 billion, reflecting 83.3% year-over-year expansion, alongside adjusted earnings per share of $3.21.

Benchmark analyst Cody Acree maintained his buy rating and $545 price objective on Broadcom shares. He observed that the stock currently trades at the lower end of its artificial intelligence peer group based on valuation metrics and characterized it as an improved opportunity following a 13% decline after its second-quarter announcement.

Broadcom stock has gained 6.6% year to date.

Wood continues to express conviction regarding artificial intelligence’s contribution to enhanced corporate profitability and operational efficiency. She has articulated that organizations embracing AI technology will distinguish themselves from competitors who remain hesitant.

Notwithstanding this bullish outlook, the Ark Innovation ETF has generated a five-year annualized return of -6.91% through August 28, substantially underperforming the S&P 500’s 11.33% gain. The fund experienced approximately $2.09 billion in net outflows throughout the preceding 12-month period.

The flagship Ark Innovation ETF has advanced 9.97% year to date, lagging the S&P 500’s 12.65% appreciation during the identical timeframe.

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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Ark Invest CEO Cathie Wood pointed to short-term market inefficiency around Circle Internet Group Inc. (NYSE:CRCL) on Sunday, despite the stock gaining significantly since its IPO.

Circle shares underperform over the past yearWood quoted a post by analyst Alex Obchakevich comparing the one-year performances of Visa Inc. (NYSE:V), Mastercard Inc. (NYSE:MA) and Circle.

Visa was up 5% over the year, Mastercard roughly flat to slightly down, and Circle sharply down for much of the period.

‘Short-Term Inefficiencies’Wood, however, didn’t appear too impressed by the one-year chart.

The veteran investor stated that the chart illustrates the “short-term inefficiencies” inherent in public equity markets, despite Circle’s sharp gains since its debut.

Circle priced its initial public offering at $31 per share on June 5, 2025. The stock opened at $69, up about 123% from its $31 IPO price, and closed its first session at $83.23, a gain of about 168%. Circle’s shares have gained over 180% since the IPO.

Wood said that many traditional financial-services analysts built careers and track records on Visa and Mastercard and struggle to "fathom" a pure-play disruptor like Circle.

She contrasted Visa and Mastercard’s long-term gains since their IPOs with ongoing technology disruption in payments, positioning CRCL as a “prime beneficiary.”

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Ark Invest’s Big Bet on CRCLArk Invest remains a major investor in Circle. The firm holds $481.43 million worth of CRCL shares across ARK Innovation ETF (BATS: ARKK),  ARK Next Generation Internet ETF (BATS: ARKW) and ARK Blockchain & Fintech Innovation ETF (BATS:ARKF)

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Price Action: Circle shares were down 1.16% in Monday’s pre-market trading after closing 5.16% higher at $87.98 during Friday’s regular trading session.

Benzinga’s Edge Stock Rankings show that CRCL demonstrated strong short- and medium-term momentum but underperformed over the long term.

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The cost of thinking, at least the artificial kind, is falling off a cliff. ARK Invest’s latest analysis spotlights a striking dynamic in the AI inference market: token prices have dropped from $2.07 to $1.02 per million tokens, a decline of more than 50%, while the volume of AI inference transactions has exploded in the opposite direction.

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OpenAI kicked off the latest round of cuts in late July 2026, reducing the price of GPT-5.6 Terra by 20% to $2.00 per million input tokens. That alone would have been notable, but the real headline was GPT-5.6 Luna, which received an 80% price cut. The pressure isn’t just internal. Anthropic has been pushing hard on cost efficiency, reportedly forcing OpenAI’s hand as early as June 2026 when the company began considering drastic reductions. Meanwhile, xAI’s Grok 4.6 entered the market with pricing of $2 for input tokens and $6 for output tokens, adding another competitor willing to undercut on price to win developer mindshare.

Falling prices are only half the equation. ARK’s research found that token volumes have surged dramatically, with reports of up to a 10x increase in certain use cases. ARK attributes much of this volume growth to agent-driven workflows. As the cost of calling an AI model drops, it becomes economically viable to string together chains of API calls, letting AI agents handle multi-step tasks that would have been prohibitively expensive at $2.07 per million tokens.

The firms doing the cutting, OpenAI chief among them, need to demonstrate that volume growth can more than offset margin compression. Selling twice as many tokens at half the price gets you back to the same revenue. Selling ten times as many tokens at half the price is a different story entirely, and ARK’s 10x volume figure in certain contexts suggests the latter scenario is at least plausible. ARK’s broader thesis, that declining AI economics will drive wider adoption and more versatile applications, depends on this competitive pressure continuing.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

ARK Invest has brought on Matt Arkin as a research associate covering artificial intelligence, cloud computing, and semiconductors. The hire signals the firm’s continued push to beef up its analytical firepower in the sectors it considers most central to the next wave of technological disruption.

The AI infrastructure buildout is turning into one of the largest capital expenditure cycles in tech history. ARK’s own research from March 2026 analyzed the demand trajectory for AI infrastructure, pointing to strong growth across hardware, software, and custom silicon.

Cloud providers’ capital expenditure guidance for 2026 exceeds $600 billion, according to ARK’s projections. That’s a staggering number, roughly equivalent to the entire GDP of Sweden, and it reflects the sheer scale of investment flowing into data centers, networking equipment, and specialized chips designed to train and run AI models.

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ARK’s March research piece highlighted collaboration with technology leaders like Broadcom and TSMC as key nodes in the AI supply chain, with custom silicon emerging as a particularly important growth vector. The shift from general-purpose chips to application-specific AI accelerators is reshaping the competitive landscape among semiconductor companies, and understanding those shifts early has been central to ARK’s investment thesis.

ARK Invest has always positioned itself as a research-first shop. The firm’s open-source research model, where it publishes analyses and projections publicly, has become one of its defining characteristics.

The firm’s current research agenda points toward significant performance improvements and supply chain optimization extending through at least 2030, particularly across AI hardware, software, and cloud services.

Adding research capacity in these areas could lead to more refined positioning across ARK’s suite of ETFs. The firm’s flagship ARK Innovation ETF (ARKK) and the ARK Next Generation Internet ETF (ARKW) both have significant exposure to companies riding the AI and cloud computing wave.

ARK’s research has already flagged the growing importance of custom silicon, chips designed by cloud providers themselves rather than purchased off the shelf from traditional chipmakers. Companies like Broadcom, which designs custom AI accelerators for hyperscalers, and TSMC, which manufactures the most advanced chips in the world, sit at the center of this trend.

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Key Highlights Shares of SpaceX gained 4.2% to reach $138.74 following Wall Street Zen’s rating improvement from “sell” to “hold” Share volume exceeded the daily average by 46%, reaching 167 million Second-quarter revenue reached $7.81 billion, representing a 91.9% increase from the prior year, while posting a loss of $0.09 per share that beat expectations Cathie Wood’s ARK Invest purchased approximately $36.9 million in SpaceX shares across four different funds after the post-earnings decline The overall analyst sentiment stands at “Moderate Buy” with a mean price target of $227.31 Shares of SpaceX (SPCX) advanced 4.2% during Monday’s trading session, finishing at $138.74, following Wall Street Zen’s decision to raise its rating from “sell” to “hold.” The stock reached an intraday peak of $139.26, while trading activity surpassed the daily average by 46%.

Space Exploration Technologies Corp., SPCX

This upward movement comes after a turbulent period following SpaceX’s maiden public earnings announcement on August 4. The company reported quarterly revenue of $7.81 billion, marking a 91.9% surge compared to the same period last year. The reported loss of $0.09 per share significantly outperformed the analyst consensus of $0.26.

However, even with these stronger-than-anticipated results, the stock faced initial selling pressure. Investor concerns centered on the company’s $18.4 billion quarterly capital expenditure and continued unprofitability.

Yet ARK Invest saw an opportunity. The investment firm led by Cathie Wood accumulated 316,963 SpaceX shares across its four funds during the previous week, representing an investment of approximately $36.9 million. ARK’s rationale focused on what the firm believes is underappreciated long-term value in Starlink, artificial intelligence infrastructure, and space-based commercial activities.

This represented ARK’s most significant single-stock acquisition during that timeframe. The purchases occurred immediately following the post-earnings decline, which ARK evidently viewed as a favorable buying opportunity.

ARK’s Strategic Portfolio Adjustments The SpaceX acquisition formed part of a comprehensive portfolio realignment. ARK simultaneously added approximately $13.2 million in CoreWeave, $13.1 million in Cerebras, and $17.6 million in Nvidia. Conversely, the firm divested roughly $96 million worth of Roblox and $21 million in Palantir holdings.

This strategic shift demonstrates a pivot from software-focused investments toward infrastructure-intensive opportunities in artificial intelligence and aerospace sectors.

An additional concern also dissipated during the week. The August 6 unlock of over 900 million previously restricted shares failed to produce the dramatic selloff many market participants had anticipated. Reports indicate another share unlock is planned for August 20.

Meanwhile, retail investors turned into net sellers for the first occasion since the June initial public offering, disposing of approximately $4.5 million in shares. While the dollar amount remains modest, it represents a notable shift in retail investor sentiment.

Street Analyst Perspectives Wall Street coverage has expanded steadily since the company went public. Bank of America and Guggenheim maintain “buy” recommendations, with Bank of America establishing a $235 price objective. Evercore and Mizuho assign “outperform” ratings, with respective targets of $230 and $200.

Piper Sandler reduced its price target from $156 down to $140 while maintaining a “neutral” stance. The aggregate consensus among 40 covering analysts indicates a “Moderate Buy” rating with an average price objective of $227.31.

The equity’s 50-day moving average currently sits at $143.35. SpaceX maintains a debt-to-equity ratio of 0.29, alongside a quick ratio of 4.99 and current ratio of 5.12.

Wall Street analysts project full-year earnings per share of -$0.11 for the current fiscal period. Meanwhile, a Falcon 9 first-stage booster is set to complete its 18th mission during an upcoming Starlink satellite launch, demonstrating the company’s sustained operational tempo.