Ark Invest Buys $37 Million in Block Stock and Circle Shares
Key Takeaways
- •Ark Invest bought 456,059 Block shares worth approximately $37.4 million, spread across its Innovation, Next Generation Internet, and Blockchain and Fintech Innovation ETFs.
- •Ark purchased 35,192 shares of Circle Internet Group, the USDC stablecoin issuer, in a trade valued at $3.36 million.
- •Circle's stock rose 9.65% to $95.55 on Monday, recovering from a 7.5% decline the previous Friday, and is up 52.6% over the past month.
- •Block raised its full-year profit forecast to $12.5 billion, representing 21% growth, though Mizuho analysts flagged rising operating expenses despite a 40% staff cut in February.
- •Bernstein assigned Circle an Outperform rating with a $140 price target, citing stablecoin payment adoption and other blockchain-related growth drivers.
Cathie Wood's Ark Invest added to positions in two companies on Monday, purchasing shares of Block Inc and Circle Internet Group.
Ark bought 456,059 shares of Block, a trade worth approximately $37.4 million. The shares were distributed across three funds: the Ark Innovation ETF, the Ark Next Generation Internet ETF, and the Ark Blockchain and Fintech Innovation ETF.
Ark applies a rule limiting how much of a single stock it can hold, with no individual holding allowed to make up more than 10% of a fund's portfolio. The firm discloses its fund trades daily, a practice that makes its buying and selling closely watched by retail investors who track Wood's portfolio moves.
Block's stock moved lower on the same day as the purchase, with shares falling 1.85% to close at $82.02.
Block's Recent Results
This was not Ark's first purchase of Block shares this year. The firm bought a large batch last month after the company released its second quarter results.
Block raised its full year profit forecast to $12.5 billion, which would mark 21% growth for the company. The company posted revenue that beat expectations for the quarter, though some analysts have concerns about costs.
Analysts at Mizuho pointed to rising operating expenses, even after the company cut 40% of its staff in February. Block has been shifting toward an AI-focused operation, and the staff cuts were part of that change.
Circle Stock Rebounds
Ark also bought 35,192 shares of Circle Internet Group on Monday, a trade worth $3.36 million. Circle, the issuer of the USDC stablecoin, went public on the New York Stock Exchange in June 2025, and its stock has been volatile since its debut.
Circle's stock jumped 9.65% on Monday to close at $95.55. The gain marked a recovery, as the stock had dropped 7.5% the previous Friday.
Analysts at Bernstein gave Circle an Outperform rating last week and set a price target of $140. Bernstein pointed to growth potential in several areas, including shifts in the macro regime, real world blockchain capital markets, and stablecoin payment adoption. The firm also cited the emerging use of stablecoins for agentic payments as a growth driver.
Circle's stock is up 52.6% over the past month, and Monday's gain added to that climb. Ark's purchases of both Block and Circle come as the firm has been building exposure to fintech and digital asset companies across its funds.
