Cathie Wood, general director of Ark Invest, claims that rotary funds (ETF) will probably keep their place in the economy, no matter how much the cryptographic portfolio adopts in the next decade.
“I think that ETFs are an important stepping stone because, you know, wallets seem so complicated, so many friction for consumers, they just want to press the button”, Wood he said At the Solana Accelerate party in Fresh York on May 23.
Wallets remain an insurance policy, says Wood
“So ETF for those who want convenience, I don’t think they will lose a lot of their gloss,” she said. “But they will be a stepping stone to a portfolio.”
“These are insurance policies to something that is wrong in the traditional world.”
Battle data He suggests that there are about 200 million busy Bitcoin wallets (BTC) around the world. Meanwhile, the commercial week ending on May 23 brought about $ 2.75 billion of inflow to ETF on Bitcoin in the USA, coincides with bitcoins reaching the novel highest level of all time in the amount of USD 111,970 on May 22.
Since the ETF on Bitcoin launched in the United States in January 2024 According to to distant data. Meanwhile, ETF Ether Spot (ETH) recorded inflows of around $ 2.77 billion launching In July 2024
Wood said that ETF Ether Spot took place “less success than people” because the American Commission of Securities and Stock Exchange did not allow for stacking. On May 21, SEC delayed the decision regarding Bitwery’s application to add to the Ether Exher Exchange fund.
However, Wood still perceives the ether as an entry point for novel investors to read clever contracts before discovering other cryptocurrencies, such as Solana (SOL).
“So they can start in the intelligent contract world with Ether, but when they study technology and follow programmers, and see consumer download, I think they will arrive,” said Wood.
Related: “We’re worried about recession,” but there is a silver lining – Cathie Wood
Wood said that the launch of the memecoin of the US President Donald Trump, the official Trump (Trump), in January in the Solana network could have caused investors to be skeptical of Solana.
“Institutions and you speak 60-year-olds … I think they can be a bit turned off by what happened to Memecoin Trump,” Wood said. Just a few days after starting on January 17, Trump submitted about 50% after the president did not issue any “Day One” executive orders related to cryptographic.
“I mean it may frighten them,” said Wood. Her comments appeared in response to the ETF analyst Eric Balchunas, who repeated that Bitcoin is “so easy” to explain to “boomer or adviser” as digital gold, but other cryptocurrencies “are more difficult”.
Wood said that its price was soaked in progress and that she would share it after the examination.
In April, the Ark raised the target price of Bitcoin “Bull Case” from 1.5 million to $ 2.4 million to the end of 2030, managed primarily by institutional investors and the growing acceptance of Bitcoin as “digital gold”.
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