Ark Invest Loads Up on Jack Dorsey’s Block Inc. in $30.9M Move
Cathie Wood’s Ark Invest made another bold move into the crypto ecosystem recently, acquiring $30.9 million worth of Block Inc. (NYSE: SQ) shares across three of its actively managed exchange-traded funds (ETFs).
The purchases underline Ark’s continued conviction in blockchain-driven financial services and decentralized payment innovation.
Ark Invest’s Block Inc. Bet
According to Ark’s daily trading disclosure, the ARK Innovation ETF (ARKK) purchased 210,916 Block shares, while the ARK Next Generation Internet ETF (ARKW) added 59,827 shares. The ARK Fintech Innovation ETF (ARKF) also acquired 114,842 shares, bringing the total buy to nearly 386,000 shares valued at $30.9 million.
The move reinforces Wood’s strategy of concentrating Ark’s funds around companies that blend traditional finance with next-generation blockchain technologies. Block, formerly known as Square, sits at the intersection of fintech and cryptocurrency infrastructure — a sector that has been central to Ark’s long-term investment thesis.
Block’s Expanding Bitcoin Ecosystem
Block Inc., co-founded by Jack Dorsey, continues to deepen its integration with the Bitcoin ecosystem. The company operates several units including Square, Cash App, Bitkey, and Proto, all of which play roles in advancing crypto accessibility.
Earlier this month, Square rolled out a new integrated Bitcoin solution allowing businesses to accept, hold, and convert Bitcoin directly from their point-of-sale systems. Merchants using the system can now also integrate a Bitcoin wallet, marking another step in Dorsey’s vision of a Bitcoin-native financial system.
Block’s share price rose 0.77% to $80.15 on Monday, according to The Block’s price page. The stock has gained 37.43% over the past six months, though it remains down 7.61% year-to-date.
Block Inc. share price (Source: Google Finance)
Ark’s Parallel DraftKings Investment
In a related move, Ark also acquired 268,833 shares of DraftKings across two ETFs.
The digital sports entertainment company recently acquired Railbird Technologies, a CFTC-regulated contract market operator, to accelerate its entry into the blockchain-based prediction market space.
Last week, Polymarket announced it will act as the designated clearing house for DraftKings’ upcoming predictions platform.
DraftKings closed slightly lower at $32.96, down 0.12% on Monday, per Google Finance.
A Signal of Confidence in Crypto-Driven Finance
Ark’s growing exposure to Block and DraftKings highlights Wood’s broader thesis: the convergence of fintech, decentralized markets, and crypto infrastructure represents the next evolution in digital finance.
As traditional institutions navigate volatility and regulation, Ark’s portfolio continues to align itself with companies driving blockchain integration at scale.
