Crypto ETFs will not be lost in ‘their glitter’ as the purse adoption grows – Cathie Wood
The CEO of Ark Invest Cathie Wood says funds that have been exchanged by the Crypto Exchange (ETF) are likely to maintain their economic area no matter how much the wallet wallet adopted in the next decade.
“I think ETFs are an important stepping stone because, you know, the wallets seem to be complicated, so much friction for consumers, they just want to push a button,” wood Says In the event of Solana Accelerate in New York on May 23.
Wallets remain an insurance policy, says Wood
“So ETFs for those who want comfort, in my opinion, will lose a lot of glitter,” he said. “But they will be a step -based stone -based stone.”
“These are the insurance policies against something wrong in the traditional world.”
Bitbo Data suggests that there are about 200 million active bitcoin (Btc) Wallets all over the world. Meanwhile, the weekend weekend found approximately $ 2.75 billion flowing in The area based on US bitcoin ETFIt coincides with Bitcoin reaching a new all-time high of $ 111,970 on May 22th.
Since the Bitcoin ETF spot was launched in the US in January 2024, approximately $ 44.49 billion was recorded, According to to the data away. Meanwhile, the spot Ether (Eth) ETFs have seen approximately $ 2.77 billion in flow from further Launching In July 2024.
Wood said ETF areas are “less successful than people expect” because the US Securities and Exchange Commission Staking is not allowed. On May 21, the SEC delayed its decision on the Bitwise application to add staking to the funds exchanged by the ether.
However, Wood still views Ether as the point of entry for new investors to become familiar with smart contracts before exploring other cryptocurrencies, such as Solana (Sol).
“So they can start with the wise world of the contract with Ether, but once they study the technology, and follow the developers, and see the consumer revolt, I think they’ll get there,” Wood said.
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Wood said the launch of the memecoin of US President Donald Trump, the official Trump (Trump), in January on the Solana network may have led to Solana’s investors.
“Institutions and you say it’s 60-year-olds … I think they might have been a bit off to what happened to Trump’s Memecoin,” Wood said. Just a few days after its launch on January 17, Trump slipped around 50% after the president after the president not made unattended crypto -related commandments.
“I mean, it might scare them,” Wood said. His comments came in response to ETF analyst Eric Balchunas reciting the point that Bitcoin was “very easy” to explain to a “boomer or counselor” as digital gold, but other cryptocurrencies were “more difficult.”
Wood said his target price of Solana is developing and he will share it once research is complete.
In April, Ark raised the target price “Bull Case” price from $ 1.5 million to $ 2.4 million by the end of 2030primarily driven by institutional investors and the increasing acceptance of Bitcoin as “digital gold.”
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