ARK Invest buys $21 million of Block shares

ARK Invest, the asset management firm led by Cathie Wood, executed a series of significant trades on Thursday, August 6, 2026, purchasing approximately $21 million worth of Block shares and adding to its positions in SpaceX and Coinbase. The moves, disclosed in the firm's daily trading updates, highlight its ongoing focus on disruptive technology sectors but also reflect routine portfolio management strategies.

The firm acquired 267,676 shares of Block, the fintech company led by Jack Dorsey, after the stock fell 6.15% to close at $79. The purchase, valued at roughly $21 million, was spread across three of ARK's exchange-traded funds: the Ark Innovation ETF (ARKK), the Ark Next Generation Internet ETF (ARKW), and the Ark Blockchain and Fintech Innovation ETF (ARKF). This trade followed Block's release of second-quarter earnings on Wednesday, which showed revenue of $6.62 billion, a 9% year-over-year increase, and adjusted earnings per share of $1.02, a 65% rise. Despite these results, analyst concerns about rising operating costs contributed to the stock's decline.

ARK's trading activity on Thursday also included the purchase of 20,318 shares of SpaceX, worth about $2.3 million,...