Cathie Wood’s Ark Invest Buys $30.9M in Jack Dorsey’s Block Shares

Cathie Wood’s Ark Invest purchased $30.9 million worth of shares in Jack Dorsey’s fintech firm Block Inc. (XYZ) on Monday, signaling renewed confidence in the company’s long-term outlook.

According to a Tuesday disclosure, Ark acquired 385,585 shares across three of its exchange-traded funds: the Innovation ETF (ARKK), Next Generation Internet ETF (ARKW), and Fintech Innovation ETF (ARKF).

Block’s shares were little changed in premarket trading Tuesday, holding steady after the purchase.

Dorsey’s company has been deepening its crypto initiatives, particularly around expanding bitcoin’s use as a payments network. Its Square division recently rolled out a suite of merchant tools designed to help small businesses accept bitcoin, underscoring Block’s continued push to merge traditional finance with digital assets.