After SpaceX, Cathie Wood Bets Big On Elon Musk’s Tesla Stock With $38M Buy

03 Jul, 2026 Updated 03 Jul, 2026

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Kritika boasts over 4 years of experience in the financial news sector. Currently working as a crypto journalist at Coingape, she has consistently shown a knack for blockchain technology and cryptocurrencies. Kritika combines insightful analysis with a deep understanding of market trends. With a keen interest in technical analysis, she brings a nuanced perspective to her reporting, exploring the intersection of finance, technology, and emerging trends in the crypto space.

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Cathie Wood’s ARK Buys More Tesla Shares

At Tesla’s closing price of $393.45, the total value of the purchase is around $38.14 million, per recent disclosure. The largest purchase was by the ARK Innovation ETF (ARKK) that bought 69,723 shares of Tesla worth approximately $27.44 million.

Here is every move Cathie Wood and Ark Invest made in the stock market today 7/2 pic.twitter.com/O4W4fxQ3pP

— Ark Invest Tracker (@ArkkDaily) July 3, 2026

The ARK Next Generation Internet ETF (ARKW) and the ARK Space Exploration & Innovation ETF (ARKX) bought nearly $6.91 million and $3.80 million, respectively, in shares. However, Tesla shares were not added to the ARK Autonomous Technology & Robotics ETF (ARKQ) during the session.

The recent acquisition by ARK Invest of SpaceX shares for $32.5 million brings the latest in Tesla’s accumulation of shares in the hands of the company. Earlier, ARK had shared that after its latest buy, SpaceX is one of the bigger positions in several of its funds.

After SpaceX, Cathie Wood Bets Big On Elon Musk's Tesla Stock With $38M Buy — Tesla stock price chart. Source: Yahoo! Finance

For context, Elon Musk’s Tesla stock closed Thursday at $393.45, making a one-day drop of 7.49%, on Thursday. Hence, it could suggest that Cathie Wood bought the dip in TSLA shares.

The TSLA Vs. MSTR Angle

At the same time, Strategy co-founder Michael Saylor was hot from the start with derivatives activity surrounding his company. On X, Saylor shared a screenshot that showed Strategy (MSTR) has a staggering open interest-to-market cap ratio of nearly 72%. This is much more than other mega-cap technology stocks like Tesla and Saylor tried highlighting his company’s better derivatives positioning.

Meanwhile, Cathie Wood’s ARK’s most recent trading report also revealed ongoing purchases of another important crypto stock, this time adding Bullish (NASDAQ: BLSH) stock. The firm bought 77,251 shares via ARKK and 9,732 shares via ARKW for a total of 86,983 shares in the day. BLSH stock was up 1.35% to close at $25.57 during trading, which made the addition worth $2.22 million.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.