ARK Invest Buys Big in Block and Circle Stocks

Cathie Wood's investment firm, ARK Invest, has continued its push into cryptocurrency stocks by purchasing almost $40 million in shares of Block Inc. and Circle Internet Group.

The transactions were made through three of ARK's exchange-traded funds (ETFs): the ARK Innovation ETF (ARKK), the ARK Next Generation Internet ETF (ARKW) and the ARK Blockchain & Fintech Innovation ETF (ARKF).

The Block Inc. purchase, which consisted of 456,059 shares, was valued at approximately $37.4 million based on Monday's closing price of $82.02.

This is not the first time ARK has invested in Block; it previously bought 236,759 shares worth around $17.2 million in June and an additional 19,029 shares valued at about $1.52 million in July.