Cathie Wood’s Ark Invest expanded its exposure to crypto-related equities on Wednesday, deploying nearly $40 million as sector-wide weakness dragged valuations lower.

According to a disclosure shared via email, the firm purchased an additional 463,598 shares of crypto exchange Bullish (BLSH), a tranche valued at $16.9 million at the close of trading. Ark also acquired 216,019 shares of Circle Internet Group (CRCL), the issuer behind the USDC stablecoin, for $15.1 million, along with 260,651 shares of Bitmine Immersion Technologies (BMNR), an ether-focused asset treasury company, worth $7.6 million.

Ark Invest holds a range of crypto and crypto-adjacent stocks across three of its exchange-traded funds: the Innovation ETF (ARKK), the Next Generation Internet ETF (ARKW) and the Fintech Innovation ETF (ARKF).

This week’s market downturn—highlighted by bitcoin’s drop to lows near $89,000—hit crypto equities broadly. Shares of Circle and Bitmine each slid around 9% on Wednesday, while Bullish, the parent company of CoinDesk, declined 3.63%. The CoinDesk 20 Index (CD20) lost 3.22%.

Ark is known for opportunistic buying during market pullbacks, using periods of depressed prices to reinforce positions it views favorably over the long term and to keep its ETF allocations aligned with internal targets.