Q2 Update Webinar Summary

During ARK Invest’s Q2 Quarterly Update Webinar, CEO and CIO Cathie Wood and members of the ARK Investment Team discussed the macroeconomic outlooks for disruptive innovation in blockchain, autonomous technology, and gene editing. Below is a summary of the key insights discussed during the webinar. For additional insights, please view the full Q2 Quarterly Update Webinar here.

ARK’s ETFs Have Performed Very Well In The First Half Of The Year. What Is Your Outlook For The Rest Of The Year?

Cathie Wood highlighted that equity markets are showing resilience, despite geopolitical uncertainty and tariffs. The three main headwinds of the past four years—rising interest rates, market concentration, and valuation compression—have now become tailwinds. Broadening market participation, expectations that interest rates will be lowered, and more attractive valuations (particularly in ARK’s innovation based strategies) suggest that the remainder of 2025 could offer continued support for growth-focused portfolios. The team believes ARK's flagship strategy has been resilient, and Wood emphasized the firm’s confidence in long-term revenue and margin expansion across its holdings.

What Is ARK’s Opinion On Elon’s Formation Of A New Political Party?

Cathie Wood responded by reaffirming ARK’s rigorous six-metric evaluation framework for company leadership and innovation, emphasizing that Elon Musk continues to demonstrate unparalleled productivity and strategic focus across ventures like Tesla, SpaceX, and Neuralink. Wood cited the rapid development of Grok 4 by xAI as a sign of Musk’s exceptional ability to attract top-tier talent and scale technologies quickly, further solidifying competitive moats across his enterprises.

What Are Your Thoughts On Tesla’s Robotaxi Launch, And How Do You See The Autonomous Ride-Hailing Industry Shaking Out?

Sam Korus, Director of Research, Autonomous Technology & Robotics, noted that Tesla’s robotaxi launch in Austin has been exceptionally smooth and underreported—a promising signal for early-stage adoption. The company is expanding geographically, with testing already underway in Phoenix and California. Korus argued that Tesla’s vertically integrated model, low cost-per-mile, and network of owners could disrupt ride-hailing incumbents like Uber and Waymo. He added that Uber may pivot toward partnerships, but Tesla’s scale could render such intermediaries unnecessary.

ARK Participated In Circle’s IPO But Then Sold The Stock In Late June. Can You Explain This?

Lorenzo Valente, Director of Research, Digital Assets, explained that ARK was a cornerstone investor in Circle’s IPO. The stock surged nearly 10x post-IPO, prompting strategic portfolio trims for concentration management purposes—not due to a shift in conviction. Circle remains a top holding across multiple ARK ETFs and is central to the stablecoin and cross-border payment infrastructure. Cathie Wood added that Circle’s strong positioning in digital financial networks reflects the firm’s long-term thesis on programmable financial infrastructure.

A Few Companies Have Now Launched Tokenized Shares Of Private Companies. What Are Your Thoughts On Tokenization, And Is This A Good Way To Gain Exposure To Private Companies?

Lorenzo Valente described tokenization as a foundational shift toward on-chain, programmable capital markets. Major players like Coinbase and Robinhood are embracing tokenized securities, while ARK itself is exploring fund tokenization. While the space remains experimental and regulatory questions persist, Valente emphasized tokenization's potential to globalize financial access. He also spotlighted the ARK Venture Fund (ARKVX) as an accessible way for investors to gain exposure to private innovation leaders like OpenAI, SpaceX, Anthropic, and Neuralink.

The Team Recently Purchased Shares Of Beam Therapeutics. Can You Please Provide An Updated Investment Rationale For This Holding?

Shea Wihlborg, Research Analyst, Multiomics, reaffirmed ARK’s strong conviction in Beam Therapeutics, which leverages base editing to modify DNA precisely. Recent data demonstrate promising, durable single-dose treatments for genetic diseases like sickle cell and AATD. Wihlborg cited Eli Lilly’s $1.3 billion acquisition of Verve Therapeutics, which licenses Beam’s technology, as a turning point for the field. Cathie Wood added that the resurgence in M&A activity and deregulation—particularly around FDA innovation—signals a strong decade ahead for companies in the multiomics space.

Do Any Of Your Portfolios Invest In The Nuclear Energy Opportunity? If So, Which Companies And Why?

Sam Korus explained that ARK holds several nuclear-related positions. BWX Technologies, a provider of nuclear systems for the U.S. Navy, has expanded into commercial nuclear energy and is held in ARK Innovation ETF (ARKK) and ARK Autonomous Technology & Robotics ETF (ARKQ). ARKQ also holds Cameco, a fuel supplier and part-owner of Westinghouse, and Oklo, a startup focused on small modular reactors. Korus noted that deregulation and cost pressures are catalyzing renewed interest in nuclear energy as a reliable, scalable power source.

After 14 Years, A Dormant Bitcoin Wallet Holding 80,000 Bitcoins Worth Roughly $8.6 Billion Moved Funds On July 4. What’s The Story Behind This Activity?

David Puell, Research Trading Analyst/Associate Portfolio Manager, Digital Assets, discussed two leading theories. One theory suggests that early adopter Roger Ver could be preparing to settle matters with the DOJ. Another theory proposes that a white hat hacker exploited vulnerabilities in outdated wallet software. OP_RETURN messages embedded in the transactions imply a legal notice and deadline for any rightful claimants to come forward. Cathie Wood emphasized the event as a testament to the vigilance of the Bitcoin community, which continues to act as a decentralized neighborhood watch guarding the network’s integrity.

Conclusion

ARK’s Q2 2025 webinar showcased our continued conviction in disruptive innovation across sectors—from digital assets and autonomous technology to genetic medicine and energy transformation. We believe that macro tailwinds, regulatory shifts, and accelerating technological breakthroughs are aligning to unlock significant value for long-term investors.

Tune in to our In The Know video series for deeper insights about deflation, innovation, and macroeconomic developments.

Important Information

The information provided in this material is for informational purposes only and should not be used as the basis for any investment decision and is subject to change without notice. It does not constitute, either explicitly or implicitly, any provision of services or products by ARK, and investors should determine for themselves whether a particular investment management service is suitable for their investment needs. All statements made regarding companies or securities are strictly beliefs and points of view held by ARK and are not endorsements by ARK of any company or security or recommendations by ARK to buy, sell or hold any security. Historical results are not indications of future results. 

Certain of the statements contained in this material may be statements of future expectations and other forward-looking statements that are based on ARK's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. ARK assumes no obligation to update any forward-looking information. ARK and its clients as well as its related persons may (but do not necessarily) have financial interests in securities or issuers that are discussed. Certain information was obtained from sources that ARK believes to be reliable; however, ARK does not guarantee the accuracy or completeness of any information obtained from any third party.

Bitcoin is subject to rapid price swings, including as a result of actions and statement by influencers and the media, changes in the supply of and demand for bitcoin, and other factors. There is no assurance that bitcoin will maintain its value over the long term. Ark strongly encourages any investor considering an investment in bitcoin or any other digital asset to consult with a financial professional before investing.

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