Summary
- ARK Invest reportedly purchased approximately $31 million worth of Block (Block Inc.) stock, totaling 385,585 shares.
- Through this purchase, ARK Invest said it increased its weighting in virtual asset-related stocks using its three ETFs.
- ARK Invest also bought additional DraftKings shares, highlighting its focus on digital sports entertainment and entry into decentralized prediction markets.
ARK Invest, led by Cathie Wood, added about $31 million worth of Block (Block Inc.) shares, increasing its weighting in virtual asset (cryptocurrency)-related stocks.
On the 27th (local time), according to The Block, ARK Invest purchased a total of 385,585 Block shares through three of its exchange-traded funds (ETFs). Specifically, the ARK Innovation ETF (ARKK) bought 210,916 shares, the ARK Next Generation Internet ETF (ARKW) bought 59,827 shares, and the ARK Fintech Innovation ETF (ARKF) bought 114,842 shares.
Block, co-founded by Jack Dorsey, is a fintech company that operates various cryptocurrency-related businesses, including the point-of-sale payment solution Square, the mobile payment app Cash App, the Bitcoin hardware wallet Bitkey, and the mining system Proto.
Meanwhile, ARK Invest also purchased an additional 268,833 shares of DraftKings. DraftKings is a major U.S. digital sports entertainment company preparing to enter the decentralized prediction market business.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
