Cathie Wood’s ARK Invest Buys $37.4 Million of Block Shares Across Three ETFs
Cathie Wood keeps adding to her Block position, and this time she spread the buying across three separate funds at once. ARK Invest purchased $37.4 million worth of shares in Jack Dorsey-led Block Inc., the parent company of Cash App and Square, picking up 456,059 shares total on Monday as the stock dipped.
The purchase wasn’t concentrated in a single ETF. ARK split it three ways:
- ARK Innovation ETF (ARKK): 191,732 shares, worth approximately $15.7 million
- ARK Fintech Innovation ETF (ARKF): 176,262 shares, worth approximately $14.5 million
- ARK Next Generation Internet ETF (ARKW): 88,065 shares, worth approximately $7.2 million
Block’s stock actually fell 1.85% on the day the purchases were made, closing at $82.02 — meaning ARK was buying into weakness rather than chasing a rally. That fits a pattern the firm has shown repeatedly with this particular stock: Wood’s funds have been steady, opportunistic buyers of Block shares over recent months, including a separate large purchase last month that followed Block’s second-quarter results, when the company raised its full-year profit forecast to $12.5 billion, implying roughly 21% growth.
The same trading day, ARK also picked up 35,192 shares of Circle Internet Group, the USDC stablecoin issuer, worth about $3.36 million. Circle moved in the opposite direction from Block, closing up 9.65% at $95.55. Together, the two trades underline where Wood’s active funds continue to concentrate crypto-adjacent conviction: a payments company with deep Bitcoin exposure through Cash App, and a stablecoin issuer sitting near the center of dollar-denominated crypto settlement.
Neither purchase is large enough on its own to move either stock meaningfully, but the pattern is the more interesting signal than any single transaction. ARK’s actively managed ETFs disclose trades daily, and the accumulating position in Block in particular shows a fund manager treating short-term stock weakness as a buying opportunity rather than a reason for caution, at least within this specific corner of the fintech and crypto-adjacent equity market.
Actively managed ETF holdings can shift daily and past purchase patterns don’t guarantee future performance. This is not financial advice. Readers wanting to understand how Bitcoin exposure flows through companies like Block can start with coin680’s Bitcoin Academy.