Cathie Wood’s Ark Invest Expands Its Crypto Bet with $30.9M Block Purchase
Cathie Wood’s Ark Invest deepened its exposure to crypto-linked stocks by purchasing $30.9 million worth of Block Inc. shares across three of its exchange-traded funds. The ARK Innovation ETF, ARK Next Generation Internet ETF, and ARK Fintech Innovation ETF collectively acquired nearly 386,000 Block shares, signaling Ark’s continued confidence in Jack Dorsey’s Bitcoin-focused vision.
Block, the parent company of Square and Cash App, has been expanding its Bitcoin ecosystem through initiatives like merchant wallets and integrated Bitcoin payment solutions. The company’s stock rose 0.77% to $80.15 on Monday, up over 37% in the past six months despite a 7.6% year-to-date decline.
The move reflects Ark’s broader strategy of backing firms at the intersection of fintech and blockchain innovation, reinforcing its belief that decentralized financial infrastructure is the future of global commerce.
