ARK Invest increases stake in Square after DeFi platform launch announcement

ARK Invest, the asset manager, bought 225,937 Square shares. This followed a statement from Jack Dorsey’s payments company about an upcoming launch of a Bitcoin-focused decentralized services platform.

According to daily filings, ARK Innovation ETF added 179,664 shares of Square, ARK Next Generation Internet ETF — 46,273 shares of the payments company.

According to CoinDesk, in April ARK Invest sold 409,241 Square shares at around $256. Since then, Square’s stock has fallen to a six-month low — below $200.

Earlier, Square announced that it would create a hardware wallet and a service for storing Bitcoin. The development team is led by Max Giz, head of the company’s Device Security division.

In April, ARK Invest acquired Coinbase shares worth $110 million.

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