Cathie Wood’s ARK Invest has returned to buying shares of Jack Dorsey’s financial services company, Block, ending a months-long selling streak. The $19.2 million purchase signals a possible change in ARK’s investment approach and comes as Block’s share price shows signs of recovery after a recent decline.
ARK Buys 262,000 Shares Amid Price Dip
According to a trade notification reviewed by Cointelegraph, ARK acquired 262,463 shares of Block (ticker: XYZ) on Monday. At the day’s closing price of $73, the purchase is valued at $19.2 million.
The buy was spread across three ARK funds:
ARK Innovation ETF (ARKK)
ARK Next Generation Internet ETF (ARKW)
ARK Fintech Innovation ETF (ARKF)
Block (XYZ) holdings by ARKW, ARKK and ARKF (by order) as of Aug. 12, 2025. Source: ARK Invest
ARKK, the largest of these funds, sold 152,980 shares of Block the same day, but still holds around 1.34 million shares worth $97.7 million. Combined with holdings from ARKW and ARKF, ARK now controls 2.6 million shares of Block valued at roughly $193 million.
End of a Long Selling Streak?
This purchase is notable because ARK had been consistently selling Block shares in recent months. In July alone, the firm sold 551,834 shares, worth $40.3 million at current prices.
In fact, before this week’s trade, ARK had not bought any Block shares in 2025 or even in 2024. The last recorded purchases date back to 2023. The sudden re-entry could indicate renewed confidence in the company, especially as its stock has been under pressure.
Block’s Strong Earnings but Weak Market Reaction
Block recently reported strong second-quarter results, posting a $2.54 billion profit. Gross profit rose 14% year-on-year, reaching record levels.
A key driver was its mobile payment platform, Cash App, which generated $1.5 billion in gross profit during the quarter. The company also reported eight million active Bitcoin accounts on the app, highlighting growing crypto adoption among its users.
Block (XYZ) daily sales by ARK Invest’s funds on Aug. 11. Source: ARK Invest
Despite these results, Block’s share price fell nearly 7% following the earnings release. Analysts suggest this drop was partly due to investor caution over the broader market and valuation concerns, rather than company performance.
Shares Still Down From January Highs
While Block’s stock has rebounded in recent weeks, it remains 21% below its January 2025 highs. The past 30 days have seen an 8% gain, but investor sentiment is still recovering from earlier declines.
Block (XYZ) price chart since January 2025. Source: TradingView
Market watchers say ARK’s decision to buy during this dip could be a bet on a longer-term recovery, especially as the company continues to expand its financial and crypto services.
Bitcoin Banking Tools on the Horizon
Looking ahead, Block is preparing to roll out a comprehensive suite of Bitcoin banking tools aimed at small and medium-sized enterprises. This initiative is expected to launch in late 2025, with initial integrations planned before the year’s end.
Such a move could strengthen Block’s role in the digital finance sector, bridging traditional business banking with Bitcoin-based services. If successful, it may also drive further revenue growth and adoption of its ecosystem.
What This Means for Investors
For retail investors and market watchers, ARK’s purchase may serve as a signal that the firm sees upside potential in Block despite recent volatility.
Cathie Wood has built a reputation for making high-conviction bets on disruptive technology companies, often buying more shares when valuations drop. Whether this marks a full return to building a larger Block position remains to be seen, but the size of the purchase suggests more than just a small tactical trade.
With Block’s financial performance remaining strong, an expanding product line, and renewed institutional interest, the coming months could prove critical for the company’s share price trajectory.
