Cathy Wood’s latest SpaceX add-on trade is pretty bold—she’s willing to buy more even after a 16% drop. Does she genuinely believe in the Starlink narrative, or is this just passive ETF allocation?

CryptoWorld News reports that after its IPO, Ark Invest increased its holdings of SpaceX shares by nearly $32.5 million, purchasing 210,121 shares that were distributed across its four exchange-traded funds (ETFs). According to the latest trading disclosures, SpaceX stock fell 16.43% at Monday’s close and is currently trading at about $154.60. Ark Invest’s latest holdings disclosure shows that SpaceX has become one of its largest holdings, accounting for about 4.46% of ARKK. On its first trading day after the IPO on June 12, Ark Invest also acquired about 3.29 million shares of SpaceX stock, worth approximately $444.3 million.