NY-based investment management ARK Invest has increased its stock holdings of the payments services company Square headed by Jack Dorsey.
Related: ARK Invest Files For Bitcoin ETFThe company purchased a total of 225,937 shares as mentioned in its daily holding files. This move came a few days later after Twitter CEO Jack Dorsey shared the news of building a platform for DeFi operations.
Earlier than that, Square announced creating a BTC hardware wallet. ARK Invest, in its turn, aims to launch a bitcoin-based exchange-traded fund (ETF). ARK Innovation ETF (ARKK), which mainly invests in tech companies acquired 179,664 shares of Square and ARK Next Generation Internet ETF (ARKW) that targets internet tech acquired 46,273 of them.
The company owned by Cathie Wood also holds Square shares via its ARK Fintech Innovation ETF operating under the ticker ARKF.On July 16, Ark Invest bought 214,718 shares of Coinbase via ARKK. With the move, the company's Coinbase shares surpassed 4 M, worth $905 M.
ARK Investment Management, founded in 2014, is an innovation-focused company. Its CEO Catherine Wood is a big supporter of crypto. After the major crypto crash happened in May, she said she believes Bitcoin will top $500.000.