Cathie Wood’s Ark Invest has invested approximately $6.4 million in 92,165 Block shares across three funds. The firm purchased 77,991 Block shares for its Ark Innovation ETF, 13,170 shares for Ark Next Generation Internet, and 1,004 shares for the Ark Fintech Innovation ETF, according to its latest trade filing. Block shares closed 2.2% lower at $69.46 on Monday.
Block, founded by Jack Dorsey, recently asked for developer feedback on a bitcoin “mining development kit” that could help reduce energy consumption and increase innovation in the Bitcoin mining space.
Last week, Ark Invest continued to purchase shares in crypto exchange Coinbase, bringing its total to nearly $30 million this month.
The firm had earlier identified bitcoin, digital wallets, public blockchains, and smart contract networks as four of the 14 “big ideas” for 2023 in a report published in January.
Ark Invest’s latest move underscores the firm’s bullish stance on the cryptocurrency market, as it continues to allocate capital towards companies and technologies that it believes are shaping the future of finance.
