Daniel Walker
Cathie Wood’s Ark Invest has strengthened its exposure to the crypto and fintech sectors, purchasing $30.9 million worth of Block Inc. (NYSE: XYZ) shares across three of its major exchange-traded funds (ETFs) on Monday.
According to the firm’s latest trading disclosure, the ARK Innovation ETF (ARKK) acquired 210,916 shares, the ARK Next Generation Internet ETF (ARKW) purchased 59,827 shares, and the ARK Fintech Innovation ETF (ARKF) bought 114,842 shares of Block Inc.
The move underscores Ark’s ongoing conviction in crypto-focused technology companies, particularly those positioned at the intersection of digital payments, bitcoin infrastructure, and blockchain services.
Block Inc., co-founded by Jack Dorsey, operates as a diversified financial services and technology firm with multiple divisions contributing to the broader crypto economy. Its suite of products includes Square (payment hardware and software), Cash App (a mobile wallet), Bitkey (a bitcoin self-custody wallet), and Proto, its bitcoin mining system.
Earlier this month, Square introduced a new integrated Bitcoin solution enabling businesses to accept, hold, and convert bitcoin directly from their point-of-sale systems. The company also rolled out a bitcoin wallet integration for merchants using its ecosystem, signaling a deeper commitment to crypto adoption.
Following these developments, Block’s stock closed at $80.15, up 0.77% on Monday, according to PRIME’s data. Over the last six months, shares have climbed 37.43%, though they remain down 7.61% year-to-date.
Ark Invest Also Adds DraftKings to Portfolio
In addition to Block, Ark Invest purchased 268,833 shares of DraftKings across two ETFs, further diversifying its portfolio toward digital innovation and emerging tech markets.
DraftKings, a major player in the U.S. digital sports entertainment and gambling industry, has been expanding into the prediction markets sector. The company recently acquired Railbird Technologies, a CFTC-regulated designated contract market, to support the launch of its own on-chain prediction market.
Meanwhile, Polymarket announced last week that it will act as the designated clearinghouse for DraftKings’ upcoming predictions platform, marking a major step toward merging regulated finance with blockchain-based betting systems.
As of Monday’s close, DraftKings’ stock slipped 0.12% to $32.96, according to Google Finance.
