ARK Invest purchased 262,463 shares of Jack Dorsey’s Block (XYZ) on Monday, according to a trade notification. With the stock closing at $73, the acquisition totaled $19.2 million.
The purchase follows a 30-day gain of 8% in Block’s share price, based on TradingView data. Despite the recent increase, ARK Invest had been selling Block shares in recent months, including the sale of 279,047 shares last week for approximately $22 million.
This transaction marks ARK Invest’s first Block share purchase in months. The company did not buy Block shares in 2025 or 2024, with the last known acquisitions dating back to 2023.
ARK Invest’s Total Block Holdings Valued at $193M
The latest acquisition came through three ARK Invest funds: ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF).
ARKK, the largest of the three funds by managed assets, acquired 152,980 shares on Monday, bringing its total Block holdings to 1.34 million shares, valued at $97.7 million.
With ARKW and ARKF collectively holding another 1.3 million Block shares as of Tuesday, ARK Invest’s total holdings now stand at 2.6 million shares, valued at $193 million. In July, ARK sold 551,834 shares of Block, now worth $40.3 million, according to ARK’s trading records.
Block’s Q2 Profit Reaches $2.54B but Stock Down 21% in 2025
Block reported a $2.54 billion profit for the second quarter of 2025, representing a 14% year-over-year increase in gross profit.
The company’s Cash App business generated $1.5 billion in gross profit for the quarter. The number of Bitcoin accounts on Cash App reached 8 million during the same period.
Following the Q2 earnings release, Block’s stock price declined almost 7%. TradingView data shows that while shares have rebounded since May, they remain down 21% compared to January 2025 levels.
Block Plans Bitcoin Banking Tools for SMEs by Late 2025
Block announced plans to introduce Bitcoin banking tools for small and medium-sized enterprises, with initial integrations expected in late 2025.
The planned suite will connect Bitcoin accounts to Block’s existing financial services. Details on the product’s full scope, supported regions, and regulatory approvals have not yet been released.
Trading data indicates Block shares remain below their early-year highs despite recent upward movement.
