Ark has continued to increase its stake in Square and Coinbase, owning more than 7.2 million shares of Square

ARK Invest, known as


, and

, continued to buy 225,937 shares of Square Friday, worth about $54 million. Shares closed Monday at $233.690, down 1.61%.

"acquired 179,664 shares of Square through the ARK Innovation ETF(ARKK) and 46,273 shares through the ARK Next Generation Internet ETF(ARKW). Additionally, ARK Fintech Innovation ETF(ARKF) has a stake in Square. The three ETFs collectively held more than 7.2 million Square shares, worth more than $1.7 billion, before the U.S. market opened on Monday. Shares of

"initially rose after Jack Dorsey announced last Thursday that Square shares were being added to ARK's portfolio. At the same time, Dorsey revealed plans to build a "new platform with BTC at its core to facilitate unmanaged, permissive and decentralized financial services based on Bitcoin," and publicly confirmed that Square is working on a Bitcoin hardware wallet. In addition, ARK Invest increased its stake in Coinbase by 214,718 shares. ARKK now owns more than 4 million Coinbase shares valued at $905 million.