Key Takeaways
- • Ark Invest bought 456,059 shares of Block Inc. (XYZ) worth about $37.4 million on Monday, spread across three actively managed ETFs, according to a trading notification from the firm.
- • The ARK Innovation ETF took 191,732 shares (about $15.7 million), the ARK Next Generation Internet ETF took 88,065 shares (about $7.2 million), and the ARK Fintech Innovation ETF took 176,262 shares (about $14.5 million).
- • The buying followed Block's second-quarter report, which showed $3.17 billion in gross profit (up 25% year over year) and a raised 2026 gross-profit forecast of $12.51 billion.
- • Ark also bought 35,192 shares of Circle Internet Group (about $3.36 million) through its fintech fund while selling Palantir, Shopify, Roblox, AMD, and Tempus AI shares the same day.
Summary
Cathie Wood's Ark Invest bought $37.4 million in Block Inc. shares on Monday, according to a trading notification from the firm reported by Decrypt. The 456,059 Block shares, which trade under the ticker XYZ, were distributed across three actively managed exchange-traded funds: the ARK Innovation ETF received 191,732 shares worth about $15.7 million, the ARK Next Generation Internet ETF acquired 88,065 shares valued at roughly $7.2 million, and the ARK Fintech Innovation ETF added 176,262 shares worth about $14.5 million. Block shares closed down 3.23% on Monday at $80.20.
Block, co-founded by Jack Dorsey in 2009 and originally known as Square Inc, operates the Square merchant platform, the Cash App financial app, and develops Bitcoin mining hardware. The purchase followed the company's second-quarter earnings report, which showed $3.17 billion in gross profit, up 25% from a year earlier. Block raised its 2026 gross-profit forecast to $12.51 billion, which would represent 21% annual growth, according to its shareholder letter. The company also reported $447 million in operating income and $864 million in adjusted operating income for the quarter, and credited artificial intelligence with helping write and review nearly all of its production code changes in June.
The results came after a February restructuring that cut Block's workforce by more than 40%, from over 10,000 employees to fewer than 6,000. Separately, Ark bought 35,192 shares of USDC stablecoin issuer Circle Internet Group through its fintech fund, a stake worth about $3.36 million. Circle closed Monday at $95.55, up 9.65%. Ark also sold shares of Palantir, Shopify, Roblox, AMD, and Tempus AI on the same day, but the firm did not say whether those sales financed its Block or Circle purchases.
Block, co-founded by Jack Dorsey in 2009 and originally known as Square Inc, operates the Square merchant platform, the Cash App financial app, and develops Bitcoin mining hardware. The purchase followed the company's second-quarter earnings report, which showed $3.17 billion in gross profit, up 25% from a year earlier. Block raised its 2026 gross-profit forecast to $12.51 billion, which would represent 21% annual growth, according to its shareholder letter. The company also reported $447 million in operating income and $864 million in adjusted operating income for the quarter, and credited artificial intelligence with helping write and review nearly all of its production code changes in June.
The results came after a February restructuring that cut Block's workforce by more than 40%, from over 10,000 employees to fewer than 6,000. Separately, Ark bought 35,192 shares of USDC stablecoin issuer Circle Internet Group through its fintech fund, a stake worth about $3.36 million. Circle closed Monday at $95.55, up 9.65%. Ark also sold shares of Palantir, Shopify, Roblox, AMD, and Tempus AI on the same day, but the firm did not say whether those sales financed its Block or Circle purchases.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.