Cathie Wood's ARK Invest acquired 262,463 shares of Block Inc. (ticker: XYZ) on August 11, 2025, worth $19.2 million at a closing price of $73 per share. This marks ARK's first Block purchase in months, ending a prolonged selling streak that included dumping 279,047 shares the prior week and 551,834 shares in July alone. The investment signals renewed institutional confidence in Block's Bitcoin-focused initiatives under CEO Jack Dorsey.
Block recently reported a Q2 profit of $2.54 billion, with its Cash App division driving $1.5 billion in gross profit and revealing 8 million active Bitcoin accounts. Despite a 21% stock decline from January highs, Block has surged 8% over the past month. ARK now holds 2.6 million Block shares ($193M) across its ARKK, ARKW, and ARKF ETFs. Wood explicitly framed the move as an endorsement of Dorsey's vision to establish Bitcoin as "the internet’s native currency," highlighting Block's corporate Bitcoin reserves and planned late-2025 launch of Bitcoin banking tools for SMEs.