ARK Invest buys $21M in Block

• ARK Invest bought about US$21 million worth of Block shares.
• The purchase increased ARK’s exposure to digital payments and crypto-related businesses.
• The move reflects continued interest in companies linked to blockchain and financial technology.

ARK Invest bought about US$21 million worth of Block shares, according to a report.

The purchase came after recent weakness in Block’s share price and increased ARK’s exposure to the company.

Block operates digital payment services and has expanded into Bitcoin (CRYPTO:BTC) and blockchain-related products.

The purchase adds to ARK’s investment in digital finance companies, and following the reported transaction Block shares remained publicly traded on the New York Stock Exchange.

ARK Invest has regularly adjusted its holdings in technology and crypto-related companies as market conditions change.

Block has built businesses across digital payments, financial technology and Bitcoin services, making it a closely watched company in both fintech and crypto markets.