Cathie Wood-led ARK Investment Management bought over 65,000 shares of Jack Dorsey-owned Block Inc SQ at an estimated valuation of over $3.9 million, based on Mondays closing price. The purchase was done through three different ETFs.
Block is a major cryptocurrency-based stock holding in Woods portfolio, with the company being the fifth-largest holding in the ARK Innovation ETF ARKK .
Interestingly, in May, Dorsey outlined his vision for the companys Bitcoin BTC/USD -centric future, saying it no longer wants to be seen as a single-product company.
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The ARK Innovation ETF also holds a significant stake in Coinbase Global Inc COIN and Robinhood Markets Inc HOOD . The payments-processing company hired Perry Hothi, who was the former chief technology officer at Argo Blockchain PLC ARBKF , for developing its Bitcoin mining division, reported Bloomberg on October 26.
Shares of Block Inc have risen over 7% in the last month.
DraftKings Sale: Wood also sold over 234,000 shares of fantasy sports company DraftKings Inc DKNG at an estimated valuation of over $3.6 million based on Mondays closing price. DraftKings shares have gained over 20% in the last five days. The company is scheduled to release its third-quarter results on Nov. 4.
On October 20, Deadfellaz, a global NFT ecosystem, and DraftKings Inc announced a collaboration to transform 13 professional football players into limited-edition NFT player cards with Deadfellaz IP.
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