Ark Invest Quietly Doubles Down on a Major Crypto-Linked Stock

Cathie Wood’s Ark Invest is doubling down on its faith in crypto-linked companies, snapping up over $30 million worth of shares in Jack Dorsey’s Block Inc. across several of its exchange-traded funds.

According to Ark’s latest trading update, the firm added roughly 385,000 shares of Block across three of its ETFs – a clear sign that Wood’s team remains confident in the growing intersection between financial technology and digital assets.

The biggest purchase came from the flagship ARK Innovation ETF (ARKK), which added more than 210,000 shares. Smaller but notable allocations were made by the ARK Next Generation Internet ETF (ARKW) and the ARK Fintech Innovation ETF (ARKF), together accounting for the rest of the total haul.

Block, the payments giant co-founded by Jack Dorsey, continues to blur the line between traditional finance and crypto infrastructure. Its ecosystem includes Square’s payment platform, Cash App for digital transfers, and Bitkey, a Bitcoin hardware wallet. The company recently launched a system enabling merchants to accept and convert Bitcoin directly through Square’s point-of-sale devices — another step toward embedding crypto into everyday commerce.

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Shares of Block closed Monday at $80.15, up 0.77% for the day. While the stock remains slightly lower for the year, it has gained over 37% in the past six months, reflecting renewed investor optimism around its crypto initiatives.

Ark Invest also broadened its exposure beyond fintech, picking up nearly 269,000 shares of DraftKings across two ETFs. The sports betting platform has been making waves of its own with an expansion into prediction markets following its acquisition of Railbird Technologies.