The flagship Ark Innovation ETF, led by ARK Invest, has abandoned 235,489 shares of Block (formerly Square) for over $20.1 million to purchase an additional $366,982 Nvidia shares worth $65.3 million.

Estimates are based on closing prices of SQ and NVDA securities as of August 8.

Shares of the GPU manufacturer added to the ARK Next Generation Internet ETF (47,069), the ARK Fintech Innovation ETF (30,684), and the ARK Innovation ETF (289,229).

On a transaction basis, NVIDIA’s capitalization fell 6.32% on August 8. The market reacted to a significant difference between the actual data on revenue and analysts’ average estimate – $6.7 billion versus $8.1 billion.

Recall that in April, ARK Invest liquidated its position in PayPal stocks. CEO Kathy Wood attributed the move to greater reliance on the prospects of Block’s competitor, Cash App.

The payments company previously posted a net loss of $208 million on a gross profit of $1.47 billion. Block generated $1.79 billion in revenue from bitcoin sales through Cash App.

“First of all, the decrease in consumer demand and the weakening of the dynamicsbitcoin pricespartly related to the wider uncertainty surrounding digital assets” – disclosed in the company.

In July, ARK Invest Kathy Wood got rid of $75 million worth of Coinbase stock. The decision was made against the background of the SEC investigation into the bitcoin exchange’s activities.

Coinbase shares later rebounded from their all-time low on information about a recovery in bitcoin price and a partnership with BlackRock.

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