Bitcoin News Today: ARK Invest Buys 262,463 Block Shares at $73 as Bitcoin Strategy Gains Focus

ARK Invest has resumed its purchases of shares in Block Inc., formerly known as Square, after a period of selling, with the latest acquisition valued at approximately $19 million. The firm bought 262,463 shares at $73 each on Monday, according to trade data [1]. This follows a sale of 279,047 shares the previous week, signaling a mixed trading strategy as ARK Invest manages its stake in the company [1].

The purchase was executed through three of ARK’s ETFs: the ARK Innovation ETF (ARKK), the ARK Next Generation Internet ETF (ARKW), and the ARK Fintech Innovation ETF (ARKF). ARKK, the largest among the three, acquired 152,980 shares, increasing its total stake in Block to approximately 1.34 million shares valued at $97.7 million [1]. ARKK and ARKF now hold a combined total of 1.3 million shares of Block, while ARK Invest’s overall position in the company has reached 2.6 million shares, valued at $193 million [1].

Block, led by Jack Dorsey, reported a $2.54 billion profit in the second quarter of 2025, with a 14% year-over-year increase in gross profit [1]. The Cash App remains a key revenue driver, contributing $1.5 billion in gross profit for the quarter. The company also announced plans to launch a full suite of Bitcoin banking tools for small and medium-sized businesses, with integrations expected to begin by late 2025 [1].

Despite these financial achievements, Block shares have declined 21% from their January highs, according to TradingView [1]. The stock fell nearly 7% after the earnings report but has shown some recovery since May. ARK’s purchase coincides with a period of undervaluation, potentially offering an attractive entry point for long-term investors [1].

This marks the first Block share purchase by ARK since early 2024 and the first in months since July, when the firm sold 551,834 shares for $40.3 million [1]. The decision reflects a strategic reevaluation of Block’s role in ARK’s portfolio, particularly in light of its ongoing Bitcoin initiatives and broader fintech innovation efforts [1].

The move reinforces the growing institutional interest in blockchain technology and digital finance, as well as ARK Invest’s continued commitment to supporting companies at the intersection of traditional finance and emerging crypto infrastructure [1].

Source:

[1] Cathie Wood-ARK 19 million buy Block-Jack Dorsey

(https://cointelegraph.com/news/cathie-wood-ark-19-million-buy-block-jack-dorsey)