Square‘s plans to develop crypto goods, including a hardware wallet, align with ARK’s goal of launching an exchange-traded fund.
On Friday, Dorsey, also the CEO of Twitter, said that Square would launch an “open developer platform.”
Square‘s plans to develop cryptocurrency goods, including a hardware wallet, align with ARK’s plans to launch an exchange-traded fund (ETF).
The ARKK fund, which generally invests in technology upgrades, purchased a total of 179,664 shares, while ARKW, which typically invests in internet technology, added 46,273 shares to its holdings.
These acquisitions coincide with ARK’s purchase of 64,001 Nasdaq-listed Coinbase shares on Friday, where the company has already invested heavily.
According to statistics, ARK, which trades its assets on a case-by-case basis, sold 409,241 shares of Square in April when the stock was hovering around $256 before plummeting to a near 6-month low of $197.
Square stock was trading for about $237 at the end of Friday’s stocks market in the United States.