Bitcoin: Ark Invest Bets $37.4 Million on Block

Order placed, conviction intact. Ark Invest has just acquired 456,059 shares of Block for $37.4 million, spread across three of its ETFs. This amounts to just over $82 per share and a renewed vote of confidence from Cathie Wood in Jack Dorsey's company, undoubtedly the most bitcoin-embedded fintech on the U.S. stock market.

Key Points

• Cathie Wood's fund has bet $37.4 million on 456,059 shares of Block (approximately $82 per share), distributed among the ARKK, ARKW, and ARKF ETFs.
• Block now holds over 9,000 BTC in cash reserves, mining equipment with Proto, a Bitkey wallet, and BTC payments via Cash App and Square.
• Jack Dorsey's company trades under the ticker XYZ and joined the S&P 500 in 2025.
• Ark also maintains its exposure through the bitcoin ETF ARKB, Coinbase, Robinhood, and Circle.

At Ark Invest, nothing is done behind the scenes: the manager publishes the details of its transactions every evening, line by line. This time, the purchase was divided among three in-house vehicles, those that historically carry the title: ARKK, the flagship fund dedicated to disruptive innovation, ARKW, focused on next-generation internet, and ARKF, oriented towards fintech.

In the scale of Ark's daily orders, often amounting to millions of dollars, a $37.4 million operation seems more like a deliberate strengthening than a simple portfolio adjustment. On the same day, the manager also sold 139,456 shares of Palantir and 8,623 shares of AMD, for a total of about $30 million: Ark did not only inject fresh cash into Block, but also drew from its pure tech to finance it. The buying method has not changed one bit over the years. Buy when the market doubts. Ark has built most of its position on the air pockets of the stock, generally after quarterly reports that were met coldly by Wall Street. The implicit entry price, around $82 per share, places the purchase far from the historical highs reached by the former Square in 2021.

Block, a Bitcoin Machine Dressed as a Fintech

It is important to remember what Jack Dorsey's company actually produces. Cash App allows tens of millions of American users to buy, sell, and send bitcoins. Square has integrated bitcoin payments for merchants equipped with its terminals. Bitkey offers a self-custody wallet aimed at the general public. Proto designs and delivers chips and mining machines to industrial operators. Spiral finances developers working on the Bitcoin protocol itself. And the company's cash reserves accumulate BTC by reinvesting a portion of the gross profit generated by its bitcoin activities, totaling over 9,032 BTC.

The conviction is reflected even in the details of the listing. Block swapped its historical symbol SQ for the ticker XYZ, before joining the S&P 500 in 2025. An openly bitcoin-first company housed in the most followed index on the planet, this did not exist five years ago.

Ark Does Not Bet on Bitcoin with Just One Horse

Block is just one piece of a larger setup. ARKW holds shares of the spot bitcoin ETF ARKB, co-issued by Ark and 21Shares. The firm's funds also include Coinbase, Robinhood, or Circle, the issuer of USDC that went public in 2025. Cathie Wood also assumes one of the most aggressive scenarios in traditional finance, with a revised bullish hypothesis of $1.2 million per bitcoin by 2030 in her company's "Big Ideas" publications, down from an initial $1.5 million before the adjustment announced at the end of 2025.

For a holder of ARKK or ARKF, buying Block means stacking three exposures into a single stock: a bitcoin cash reserve fueled month after month, a supplier of mining equipment, and payment rails that already accept BTC from both merchants and individuals. A more complete basket than a simple corporate cash line, at $82 per share.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.