Ark Invest increased its holdings of Blockchain by $19.2 million, bringing Blockchain’s current reserves to 8,692 BTC.

According to recent disclosures, Ark Invest, led by Cathie Wood, increased its holdings in Block Inc. through three of its ETFs by approximately $19.2 million. This increase occurred as Block Inc.'s stock price plummeted to a three-week low of $73.03. Despite a 4% drop over the past five days, the stock has still risen 12% over the past month. Furthermore, Block's second-quarter earnings report showed strong profitability, with gross profit reaching $2.54 billion, a 14% year-over-year increase. The company also raised its full-year gross profit forecast to $10.17 billion. Block holds a reserve of 8,692 bitcoins, which it uses for both investment and to support user Bitcoin transactions.