Cathie Wood’s ARK Invest has resumed buying shares of Jack Dorsey’s fintech firm Block after a lengthy sell-off.
On Monday, ARK acquired 262,463 shares of Block (XYZ), according to a trade filing. Valued at $73 per share at the close, the purchase totaled approximately $19.2 million.
The move comes as Block has posted an 8% gain over the past 30 days, according to TradingView.
ARK’s latest buy follows an extended stretch of unloading Block shares, including the sale of 279,047 shares last week for roughly $22 million.
ARK’s total holdings in Block now stand at $193 million
ARK’s Block purchase was spread across three of its funds: the ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF).
ARKK, the firm’s largest fund by assets, added 152,980 Block shares on Monday, bringing its total holdings to roughly 1.34 million shares valued at $97.7 million.
With ARKK and ARKF together holding an additional 1.3 million XYZ shares as of Tuesday, ARK Invest’s total stake in Block now amounts to 2.6 million shares valued at $193 million.
End of the Selling Streak?
ARK Invest’s latest buy of Block marks its first in months, hinting at a possible shift in strategy.
In July, the firm offloaded 551,834 Block shares — now valued at $40.3 million — according to ARK trading data compiled by Cointelegraph.
Prior to this week, ARK hadn’t purchased Block shares at any point in 2024 or so far in 2025, with its last recorded acquisitions dating back to 2023.
Block shares remain down 21% from their January peak
ARK’s latest move comes just days after Block reported a $2.54 billion profit for the second quarter, with gross profit climbing 14% year-over-year.
The company’s Cash App platform was a key growth driver, generating $1.5 billion in gross profit for the quarter, while Bitcoin accounts grew to 8 million.
Despite the strong results, Block’s stock fell nearly 7% after the Q2 earnings release. While the share price has rebounded notably since May, it remains 21% below its January highs, according to TradingView.
After another strong quarter, Block is reportedly gearing up to launch a full suite of Bitcoin banking tools tailored for small and medium-sized businesses, with initial integrations expected by late 2025.
