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Line a baking sheet with parchment paper or a Silpat liner.
Bring a small, shallow saucepan filled halfway with water to a bare simmer -- just a few small bubbles breaking the surface -- over medium-low heat.
Place the white chocolate in a large stainless steel or heatproof glass mixing bowl and place on top of the saucepan of simmering water. The bottom of the bowl should not come into contact with the water, but should rest on the edges of the saucepan.
Stir the chocolate constantly until it’s fully melted and smooth. Remove the bowl from the heat and stir in half the butter until completely melted.
Scrape the white chocolate out of the bowl with a silicone spatula and spread evenly across the prepared baking sheet in a thin layer, using an offset spatula to even out the chocolate if desired.
Sprinkle the pistachios and cherries across the white chocolate and press gently with your hands to adhere the nuts and fruit to the chocolate.
Add the semisweet chocolate to the bowl and place it over the saucepan of simmering water, stirring to melt it completely the same way as the white chocolate.
Remove the bowl from the heat and stir in the remaining butter until completely melted.
Spread the melted semisweet chocolate evenly on top of the fruit- and nut-studded white chocolate in a thin, even layer. Place the baking sheet in the refrigerator for about an hour until the chocolate hardens.
Break the chocolate bark into large chunks. Store in the refrigerator until ready to serve.