Cathie Wood's Ark Invest bought nearly $40 million in shares of Block Inc. and Circle Internet Group on Monday, extending a pattern of purchases across both companies through 2026. The buys came as Block stock fell and Circle stock rose on the same trading day.
Ark Invest bought 456,059 shares of Block, Jack Dorsey's company, at Monday's closing price of $82.02. The purchase came to around $37.4 million, spread across the ARK Innovation ETF, the ARK Next Generation Internet ETF and the ARK Blockchain & Fintech Innovation ETF. Block itself closed 1.85% lower that day.
The firm has added to its Block position repeatedly this year whenever the stock has dropped. It bought 236,759 shares worth about $17.2 million in June. Then it added 19,029 shares worth approximately $1.52 million in July.
Circle purchase extends a 2026 buying spree
Ark also bought 35,192 Circle shares worth about $3.36 million at Monday's closing price of $95.55. Unlike Block, Circle stock rose 9.65% that day, recovering from a Friday loss of 7.5%.
The purchase continues Ark's push to build its Circle position through 2026. In July, the firm bought 220,012 shares for about $13.9 million when the stock fell below $64, then added 109,129 shares worth roughly $6.83 million after Circle received a limited-purpose trust charter from the New York Department of Financial Services.
Block and Circle report quarterly results
Block's gross profit grew 25% year over year to $3.17 billion in its most recent quarterly results, split between $1.16 billion from Square and $1.97 billion from Cash App. The company also raised its 2026 forecast to $12.51 billion in gross profit and $3.47 billion in adjusted operating income. It also added 85 Bitcoin in June, lifting its treasury holdings to 9,117 BTC.
Circle, meanwhile, reported $73.3 billion in USDC circulation and $701 million in quarterly revenue as a stablecoin issuer. Ahead of Ark's latest purchase, Bernstein set a $140 price target on Circle stock with an Outperform rating.
Source: CoinGape
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