Investor-Focused Rewrite
Ark Invest Bets on Block’s Crypto Push with $30.9M Share Purchase
Ark Invest, led by Cathie Wood, acquired $30.9 million in Block Inc. (XYZ) shares across three of its ETFs, signaling confidence in the company’s blockchain and payments strategy.
The 385,585 shares were split among ARKK, ARKW, and ARKF, according to a disclosure issued Tuesday.
Block, led by Jack Dorsey, has doubled down on efforts to make bitcoin a mainstream payment option. Its Square division recently unveiled tools designed to streamline bitcoin acceptance for small businesses.
Block’s stock traded flat in premarket activity following the purchase.
