Ark Invest buys crypto stocks such as Block, Circle, and Coinbase on dips.

According to Odaily Planet Daily, Cathie Wood's Ark Invest continued to increase its holdings of crypto-related stocks on Tuesday to capitalize on the price decline and broader crypto market downturn.

According to its transaction documents, Ark Invest purchased $13.5 million worth of Block. Inc. stock, $7.6 million worth of Circle Internet Group stock, and $3.86 million worth of Coinbase stock through its multiple exchange-traded funds (ETFs).

Ark Invest primarily holds shares in these three companies through the Ark Innovation ETF (ARKK). As of Tuesday, Coinbase was the fund's fourth-largest holding, valued at $391 million, representing approximately 5.22% of its portfolio. ARKK also holds Circle for $179 million and Block for $85.2 million.

In addition, Ark Invest also purchased $1.52 million worth of Bullish stock, $878,794 worth of Robinhood Markets stock, and $2.8 million worth of its own Ark-21Shares spot Bitcoin ETF on Tuesday.

Ark Invest has been consistently increasing its holdings of crypto-related stocks in recent weeks, taking advantage of their recent market underperformance. Block.com shares closed up 2.96% at $63.69 on Tuesday, but are down 20.54% over the past month. USDC issuer Circle shares fell 3.62% to $70.11 on Tuesday, 51% lower than a month ago. Coinbase shares fell 0.72% on Tuesday, and are down 30% over the past month.