Cathie Wood's Ark Invest purchased approximately $40.8 million worth of crypto-related stocks during the final trading session of August, acquiring 456,059 Block shares and 35,192 Circle shares across three of its actively managed exchange-traded funds. The investment manager distributed these purchases to maintain portfolio weights, with Block closing Monday at $82.02 per share after falling 1.85% during the session. As per AMBCrypto, the purchases were worth about $40.8 million at Monday's closing prices, with most of the investment allocated to Block, the payments company behind Cash App. The dollar figure represents an estimate based on each stock's closing price, while the actual value of the shares may differ from what Ark paid.
Block reported robust second-quarter results in August, with gross profit rising 25% year-over-year to $3.17 billion. Cash App accounted for $1.97 billion of gross profit, up 31% year-over-year, while Square generated $1.16 billion, an increase of 13%. Adjusted operating income reached $864 million, representing a 27% margin, with adjusted diluted earnings per share at $1.02. Following these results, Block raised its full-year gross profit forecast to $12.51 billion, representing expected growth of 21% from 2025, compared to the previous forecast of $12.33 billion.
Ark's latest purchases extend a series of investments in crypto-related companies this year, including acquisitions made during earlier periods of weakness in the company's stock. In June, Ark acquired 236,759 Block shares worth roughly $17.2 million through ARKK while making changes to its crypto-related holdings. The firm later added more Block shares in July alongside a larger purchase of Circle Internet Group stock, buying 19,029 Block shares worth about $1.52 million based on Block's closing price at the time. As per AMBCrypto, Ark's exposure to Block is significant because Block operates a broader payment system that gives it exposure to Bitcoin, while also holding Bitcoin on its balance sheets.
Ark's Monday trades extended beyond Block, with the investment manager purchasing 35,192 shares of stablecoin issuer Circle Internet Group worth approximately $3.36 million based on Monday's closing price of $95.55. Unlike Block, Circle finished the session sharply higher, gaining 9.65% after falling 7.5% on Friday. The purchase continues Ark's accumulation of Circle shares during 2026, with the firm previously buying 220,012 shares worth approximately $13.9 million in July after CRCL fell below $64. As per AMBCrypto, Circle issues USDC, which is the second-largest dollar-backed stablecoin in the market.
Ark's Monday trades also revealed a significant reduction in its technology holdings, with the investment manager selling 139,456 Palantir shares and 8,623 AMD shares across its funds. According to AMBCrypto, 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. The reduction in AI-related positions suggests Ark may be rebalancing its portfolio toward crypto-related investments, particularly given the strong performance of Block and Circle during the session.
