Cathie Wood-ledARK Investment Managementbought over 69,000 shares ofJack Dorsey-ownedBlock IncSQ at an estimated valuation of over $3.8 million, based on Wednesdays closing price. This is the third consecutive day Woods funds are buyingthe crypto-linked stock.

The purchase was made via theARK Innovation ETFARKK ,which also holds a significant stake inCoinbase Global IncCOIN . Block is the fifth largest holding of the fund, with a weight of 4.63%.

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ARKs funds had bought over 85,000 shares of the company on Tuesday and over 65,000 shares on Monday. The company is set to report its third-quarter earnings on Thursday, according to its website.

Shares of Block closed over 7% lower on Wednesday after the Federal Reserves hawkish stance roiled markets.

Interestingly, in May this year, Dorsey outlined his vision for the companysBitcoinBTC/USD -centric future saying it no longer wants to be seen as a single-product company.

Other Buy:Wood also bought over 343,000 shares ofRobinhood Markets IncHOOD via two different ETFs theARK Fintech Innovation ETFARKF and theARK Next Generation Internet ETFARKW valued at over $3.9 million based on Wednesdays closing price. Woods funds had bought over 30,000 shares of Robinhood on Tuesday.

The company reported third-quarter revenue of $361 million, up 14% sequentially. The revenue total beat a Street estimate of $355.27 million. In the third quarter, Robinhood had 12.2 million monthly active users, down 1.8 millionfrom the prior quarter.

Robinhood shares closed 4.36% lower on Wednesday.

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Photo courtesy: Ark Invest