Ark Invest buys $37 million worth of shares in Jack Dorsey’s Block Inc

The Block2026/09/01 10:36

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Cathie Wood's Ark Invest scooped up roughly $37.4 million worth of Block Inc. (XYZ) as its shares dipped on Monday.

According to the latest trading disclosure, Ark bought 456,059 shares of the Jack Dorsey-led fintech firm across the Ark Innovation ETF (ARKK), Ark Next Generation Internet ETF (ARKW), and the Ark Blockchain & Fintech Innovation ETF (ARKF).

The company's investment strategy does not allow an individual holding to exceed 10% of a fund's portfolio to maintain diversification within its ETFs.

Block shares dipped 1.85% on Monday to close at $82.02. Last month, Ark had purchased a bulk of Block shares after its second-quarter results that raised its full-year profit forecast to $12.5 billion, which would mark a 21% growth.

While the company posted higher-than-expected revenue in the last quarter, analysts at Mizuho raised concerns about its rising operating expenses despite a 40% staff cut in February, amid its shift to an AI-focused operation.

CRCL

Meanwhile, Ark also purchased 35,192 shares of Circle Internet Group (CRCL), worth $3.36 million. Circle's stock surged 9.65% on Monday to $95.55, marking a recovery after it fell 7.5% last Friday.

Analysts at Bernstein gave Circle an Outperform rating last week and set a $140 price target, citing growth potential in the macro regime shifts, real-world blockchain capital markets, stablecoin payment adoption, and emerging use of stablecoins for agentic payments. Circle is up 52.6% over the past month.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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华尔街见闻•2026/10/12 20:41