The post Cathie Wood Explains Focus on Bitcoin, Ether, and Solana, Dismissing Trump Token Due to Utility Concerns appeared on BitcoinEthereumNews.com.

The rise of memecoin-based assets is reshaping the cryptocurrency landscape as industry leaders signal a shift in regulatory approval trends. The recent surge in interest surrounding memecoins, especially with the advent of new ETFs, showcases a potential turning point for cryptocurrency adoption and market liquidity. According to Cointelegraph, ARK Invest’s Cathie Wood emphasized that the Trump token lacks utility, reinforcing her commitment to traditional cryptocurrencies like Bitcoin, Ether, and Solana. As memecoin-based ETFs gain traction, Cathie Wood of ARK Invest remains focused on traditional cryptocurrencies, highlighting a shift in market dynamics. New Momentum for Memecoin ETFs Amid Shift in SEC Leadership The potential approval of the first memecoin-based exchange-traded funds (ETFs) is gaining momentum, coinciding with a notable shift in leadership at the US Securities and Exchange Commission (SEC). Dmitrij Radin, a prominent figure in the crypto regulatory space, predicts that the SEC, now led by acting Chair Mark Uyeda, is more likely to sanction these funds. This change signals a willingness to broaden the scope of assets available to investors. Recent filings for the TRUMP, Dogecoin (DOGE), and Bonk (BONK) ETFs have come to the forefront, reflecting a growing interest from retail investors. As the market reacts to these developments, the prospect of memecoins gaining mainstream acceptance seems increasingly plausible. Cathie Wood’s Stance on The TRUMP Token and Market Focus Cathie Wood, the CEO of ARK Invest, has expressed skepticism towards the TRUMP token, which recently launched to generate hype around its supposed utilities. In her remarks, she cautioned that whereas the coin may tout potential benefits tied to its association with former President Trump, it currently lacks substantial utility, stating that its main advantage appears to be as a speculative asset. In a recent Bloomberg interview, Wood remarked, “There is speculation that […] you’ll get to meet President…

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Filed under: News - @ January 24, 2025 8:20 pm