Cathie Wood’s investment manager Ark Invest bought $30.9 million worth of shares in Jack Dorsey’s fintech company Block Inc (XYZ) on Monday.
Ark added a total of 385,585 XYZ shares across three of its exchange-traded funds (ETFs): Innovation (ARKK), Next Generation Internet (ARKW) and Fintech Innovation (ARKF), according to an emailed disclosure on Tuesday.
XYZ shares are little-changed in premarket action on Tuesday.
Jack Dorsey’s firm’s crypto focus in on expanding bitcoin BTC$114,495.32’s usefulness as a means of payment. Its business Square Square also recently introduced a set of tools aimed at making it easier for small businesses to accept bitcoin.