Ark Invest has acquired shares in both Block Inc. and Circle Internet Group, according to a trading notification from the investment firm. The purchases occurred on Monday, with Ark Invest allocating approximately $37.4 million to Block Inc. shares across three of its actively managed exchange-traded funds. Additionally, Ark’s fintech fund purchased about $3.36 million in shares of Circle Internet Group.
Ark’s flagship ARK Innovation ETF acquired 191,732 shares of Block Inc., valued at approximately $15.7 million. The ARK Next Generation Internet ETF added 88,065 shares worth about $7.2 million, and the ARK Fintech Innovation ETF purchased 176,262 shares, amounting to roughly $14.5 million. In total, Ark bought 456,059 shares of Block Inc.
Block shares closed Monday down 3.23% at $80.20. The company, co-founded by Jack Dorsey in 2009 and formerly known as Square Inc., operates the Square merchant platform, the Cash App, and develops Bitcoin mining hardware. These investments by Ark Invest follow Block’s recent second-quarter earnings report.
Block reported a gross profit of $3.17 billion for the second quarter, a 25% increase year-over-year. The company also raised its 2026 gross-profit forecast to $12.51 billion, which would represent 21% annual growth, according to Block’s shareholder letter. Operating income for the quarter was $447 million, with adjusted operating income at $864 million.
In operational updates, Block credited artificial intelligence with assisting in the review of nearly all its production code changes in June. This technological integration follows a significant restructuring in February, which reduced Block’s workforce by more than 40%, decreasing its employee count from over 10,000 to fewer than 6,000.
Ark’s fintech fund also acquired 35,192 shares of Circle Internet Group, valued at approximately $3.36 million. Circle closed Monday at $95.55, marking a 9.65% increase for the day.
On the same day as these purchases, Ark Invest also sold shares in Palantir, Shopify, Roblox, AMD, and Tempus AI. However, the investment firm did not specify whether these sales were used to finance the acquisitions of Block or Circle shares. Uncertainty remains regarding the financing of these trades.
Ark Invest’s strategic investment decisions, particularly in companies like Block Inc. and Circle Internet Group, are often viewed as potential indicators of market trends. However, these recent purchases should be considered in the context of Block’s ongoing financial recovery and strategic adjustments, rather than as a definitive market signal.
Why This Matters
The materials describe a narrow update: Ark Invest, through three of its actively managed ETFs, bought approximately $37. Whether Ark’s sales of Palantir, Shopify, Roblox, AMD, and Tempus AI shares financed its Block or Circle purchases.
Broader Context
Source materials place the factual news in this context: Cathie Wood’s Ark Invest bought $37.4 million in Jack Dorsey-led Block Inc. shares Monday, spreading the purchase across three actively managed exchange-traded funds.
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