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.