Cathie Wood Bets Big on Block Inc., Following Dorsey’s Bitcoin Drive

Ark Invest, led by Cathie Wood, has made a significant move into Block Inc., the company founded by Jack Dorsey. With 262,463 shares acquired across three of their ETFs – ARK Fintech Innovation ETF (ARKF), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF) – Wood is capitalizing on a recent stock dip following Q2 earnings and Block’s inclusion in the S&P 500 index. This move comes as Dorsey champions Bitcoin expansion through his subsidiaries, including Cash App, Square, and Bitkey, which are pushing for wider adoption of the cryptocurrency.