Key Notes
- Cathie Wood-led firm ARK Invest has loaded up 262,463 shares of Jack Dorsey’s Block Inc.
- This comes after the XYZ share price dropped 15% from its weekly high of $85.
- The purchase is significant as it aligns with Block’s push for Bitcoin adoption.
On August 11, Cathie Wood’s ARK Invest acquired 262,463 shares of Jack Dorsey’s Block Inc. (NYSE: XYZ).
The shares were distributed across three of the asset management firm’s top funds. Interestingly, it coincides with Dorsey’s recent push towards Bitcoin
BTC
$119 778
24h volatility:
0.2%
Market cap:
$2.38 T
Vol. 24h:
$47.22 B
adoption through its multiple subsidiaries.
Ark Invest Rebalances Financial Portfolio
Cathie Wood and her company ARK Invest are popular for taking up shares of crypto firms, including newly established projects.
The firm’s latest investment move is an acquisition of 262,463 Block Inc. shares, with the firm taking advantage of the recent pullback in the price of the stock. For context, XYZ’s share price has corrected 15% from its weekly highs of $85.
At press time, the Block Inc. share was trading at $73.07, down by 0.49% over the last 24 hours.
The purchase of XYZ was done across Ark Invest’s three funds, including the Ark Fintech Innovation ETF (ARKF), the ARK Next Generation Internet ETF (ARKW), and the ARK Fintech Innovation ETF (ARKF).
Ark Invest conducts such acquisition exercises regularly, in a bid to ensure diversification of its financial portfolio.
Sometimes, it offloads shares from several companies to make sure that assets in its portfolio maintain a specific weighting, below 10%.
Almost a month ago, Ark Invest rebalanced its financial portfolio by offloading some shares of Coinbase (COIN) and Block Inc.
With the recent purchase of XYZ, the asset manager now has 1.62% of its total investments in Block Inc. shares.
Meanwhile, the net investment value of this holding is pegged at $169 million at the current price. It is significant because of how it coincides with Block’s BTC adoption push.
Block Inc. and Its Bullish BTC Adoption Moves
In Q2, 2025, the company increased its treasury by adding 108 BTC. This took its total holdings to 8,692 BTC, purchased at an average BTC price of $30,405. Bitcoin is currently trading at $118,541.20.
This suggests that Block has a massive BTC Yield, although Metaplanet seems to have overtaken it in this regard.
Block Inc. is prepared to debut a full-stack Bitcoin banking suite, designed to boost the adoption of a BTC treasury among small businesses.
It intends to achieve this feat through subsidiaries like Cash App, Bitkey, and Square, which already have a level of expertise in this area. Merchants in the United States can accept payment via Square.
Cash App uses the Lightning Network and reported $10 billion in Bitcoin revenue in 2024, while Bitkey offers self-custody hardware for everyday users.
In addition to its Bitcoin adoption push, Block Inc. has joined other companies on the S&P 500, replacing US energy company Hess Corporation in the index. It is touted as a historic move that is largely attributed to being a significant win for Bitcoin and the crypto industry.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
