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

PANews reported on August 12 that according to the latest disclosure, Ark Invest, led by Cathie Wood, increased its holdings of Block Inc. shares through its three ETFs, with a total amount of approximately US$19.2 million.

This increase in holdings occurred as Block Inc.'s stock price fell to $73.03, a three-week low. 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.