Cathie Wood’s ARK Invest added Block and Circle shares to three of its funds during the final trading session of August.
The purchases were worth about
Block accounts for most of ARK’s purchase
ARK bought
The price of Block shares closed at
The dollar figure does not necessarily represent what ARK paid, but its daily trade disclosure shows the number of shares bought, while the estimated value uses the closing price.
ARK’s exposure in the case of Block is because Block operates a broader payment system that gives it exposure to Bitcoin, while also holding Bitcoin on its balance sheets.
ARK adds Circle as CRCL rallies
ARK also bought
CRCL price closed with a
The CRCL shares added were smaller than the Block purchase, and it also means ARK added CRCL during a rally instead following a fall in the stock price.
A look at ARK’s trades showed that it reduced several technology holdings. It sold
But these trades only show money moving between holdings, but they do not explain the reasoning behind ARK’s moves or prove a wider shift away from artificial intelligence stocks.
Final Summary
ARK bought 456,059 Block shares and 35,192 Circle shares on 31 August.
The combined $40.8 million value is an estimate based on each stock’s closing price.
