ARK Invest, led by Cathie Wood, has made a surprise move by purchasing $19.2 million worth of Block shares after a months-long selling streak.
Key Takeaways
- 1ARK Invest purchased 262,463 shares of Block Inc., valued at $19.2 million
- 2This marks ARK’s first buy of Block stock in months following heavy sell-offs
- 3Block stock recently hit a three-week low but is up 12% over the past month
- 4The move follows strong Q2 earnings and new Bitcoin-focused business plans
What Happened?
Cathie Wood’s ARK Invest has made a notable $19.2 million investment in Jack Dorsey’s Block Inc., reversing months of steady divestment. The buy came after the stock dipped to its lowest point since mid-July, suggesting a renewed belief in Block’s long-term potential.
The latest acquisition was spread across three ARK exchange-traded funds: ARKK, ARKW, and ARKF.
ARK Reenters Block After Long Sell-Off
After consistently offloading Block shares throughout 2024 and early 2025, ARK Invest returned to buying this week. According to official trade disclosures:
- ARK Innovation ETF (ARKK) bought 152,980 shares
- ARK Next Generation Internet ETF (ARKW) added 69,526 shares
- ARK Fintech Innovation ETF (ARKF) picked up 39,957 shares
In total, 262,463 shares were acquired, equaling approximately $19.2 million based on Monday’s closing price of $73.03. The purchase boosted ARK’s total holdings in Block to 2.6 million shares, worth roughly $193 million.
This is the first time in months that ARK has added to its Block position. In July alone, it had sold over 551,000 shares, then worth more than $40 million.
Strong Q2 Earnings Bolster Investor Confidence
The timing of the purchase closely follows Block’s release of impressive second-quarter earnings:
- $2.54 billion gross profit, up 14% year-over-year
- Cash App contributed $1.5 billion to gross profit
- The number of Bitcoin-enabled accounts reached 8 million
- Block raised its full-year gross profit forecast to $10.17 billion, up from $9.96 billion
Despite the solid financial performance, the stock dipped by nearly 7% after the earnings report, though it has since recovered some ground. Over the last 30 days, Block shares are up 12%, even as they remain 21% below their January highs.
Bitcoin Strategy and Future Outlook
Block’s recent announcements have emphasized its commitment to Bitcoin and crypto services. According to reports, the company plans to launch a comprehensive suite of Bitcoin banking tools aimed at small and medium-sized businesses by late 2025.
As of the end of June, Block held 8,692 BTC on its balance sheet. These reserves are used both for investment purposes and to support user transactions, reinforcing Block’s dual role as a fintech and crypto innovator.
CoinLaw’s Takeaway
I think this is a classic Cathie Wood play. After months of selling and a sharp stock dip, ARK swooped in to grab Block shares at a discount. The timing right after strong earnings and bullish Bitcoin developments is no coincidence. It feels like a high-conviction move based on long-term fundamentals, especially with Block leaning harder into crypto solutions for real businesses. If Block’s Bitcoin banking tools land well in the market, this $19 million bet might end up looking like a steal.
