Ark Invest expands fintech holdings with Block and Circle share buys

The firm purchased 456,059 shares of Block across its Innovation, Next Generation Internet, and Blockchain & Fintech Innovation ETFs. This move follows a 1.85% decline in Block’s stock, which closed at $82.02 on Monday. Ark has consistently utilized periods of price weakness throughout 2026 to accumulate shares in the Jack Dorsey-led firm, which recently raised its full-year gross profit forecast to $12.51 billion.

Block’s upward revision follows a strong second quarter, where gross profit climbed 25% year over year to $3.17 billion. Despite optimism surrounding the company's integration of agentic AI and growth in its Cash App segment, analysts at Mizuho have expressed caution regarding rising operating expenses, even as the company continues to bolster its Bitcoin treasury, which currently holds 9,117 BTC.

Simultaneously, Ark acquired 35,192 shares of Circle Internet Group. Unlike the Block transaction, this purchase occurred during a 9.65% rally for Circle, reflecting the firm's ongoing accumulation of the stablecoin issuer. Bernstein analysts maintain an Outperform rating on Circle with a $140 price target, highlighting the rapid expansion of USDC in decentralized finance and its dominant role in blockchain-based payment infrastructure.