Cathie Wood-led Ark Investment Management bought 211,313 shares of Block Inc (NYSE:SQ), worth $19.8 million on Tuesday.
Shares of the Jack Dorsey-led Block, formerly known as Square Inc, rose 1.4% to $95.20 in the after-hours trading. Block shares ended Tuesday’s regular session down 3.9% at $93.91.
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Block shares traded lower on Tuesday with the broader market. The shares have fallen over the past five trading sessions.
Wood, a known Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) bull, also purchased 37,800 shares of Coinbase Global Inc (NASDAQ:COIN), worth $6.7 million, for the ARK Next Generation Internet ETF (NYSE:ARKW).
Coinbase is the second-largest spot market for cryptocurrencies after Binance, according to CoinMarketCap data.
The COIN stock is the third-largest investment for Ark across funds while Block is the eighth-largest.
The market value of Ark’s overall holdings of Coinbase and Block is $993.4 million and $721.4 million, respectively, as of Tuesday.
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Photo: Courtesy of Ivan Radic via Flickr