Cathie Wooden’s ARK Luggage $19M In Jack Dorsey’s Block Shares

Cathie Wooden’s funding firm ARK Make investments has returned to buying the shares of Jack Dorsey’s monetary providers agency Block after a chronic sell-off.

ARK snapped up 262,463 shares of Dorsey’s Block (XYZ) on Monday, based on a commerce notification seen by Cointelegraph. With the inventory closing at $73, the acquisition is price $19.2 million.

The acquisition comes amid Block seeing a notable uptrend, surging 8% previously 30 days, based on TradingView.

ARK’s buy of Block follows an extended interval of promoting the shares, with the agency dumping one other 279,047 XYZ final week for roughly $22 million.

ARK holds $193 million in Block

ARK’s Block share buy included transactions from the three holding funds, together with the ARK Innovation ETF (ARKK), ARK Subsequent Era web ETF (ARKW) and ARK Fintech Innovation ETF (ARKF).

ARKK, the biggest ARK fund with belongings below administration (AUM), offered 152,980 Block shares on Monday and now holds round 1.34 million XYZ shares, price $97.7 million.

With ARKK and ARKF collectively holding one other 1.3 million XYZ as of Tuesday, ARK Make investments now holds a complete of two.6 million Block shares, price $193 million.

Finish of promoting streak?

ARK Make investments’s newest Block buy is its first in months, signaling a possible shift within the firm’s funding technique.

In July alone, ARK dumped a complete of 551,834 Block shares, which at the moment are price $40.3 million, based on ARK’s buying and selling information tracked by Cointelegraph.

With no Block share purchases seen earlier in 2025 or in 2024, the corporate’s final recognized acquisitions date again to 2023.

Block shares are down 21% from January highs

ARK’s newest funding in Block got here shortly after Block final week reported a $2.54 billion revenue within the second quarter, with year-over-year gross revenue surging 14%.

Block’s cellular fee service, Money App, was a significant progress driver, posting $1.5 billion in gross revenue for the quarter, whereas the variety of Bitcoin (BTC) accounts reached eight million.

Associated: ARK Make investments provides $20M in BitMine, trims Coinbase, Block, Robinhood holdings

Regardless of Block’s robust monetary outcomes, its value declined almost 7% following the discharge of its Q2 report. Though seeing a notable rebound since Might, Block shares are down 21% from the value ranges seen in January, based on TradingView.

Following one other robust quarter, Block reportedly plans to launch a complete suite of Bitcoin banking instruments designed for small and medium-sized enterprises, with the primary integrations deliberate for late 2025.

Cointelegraph approached Block to touch upon the information however didn’t obtain a response by publication.