Cathie Wood says crypto ETFs will shine as wallets soar
The post Cathie Wood says crypto ETFs will shine as wallets soar appeared on BitcoinEthereumNews.com.
Ark Investment Management founder and CEO Cathie Wood says cryptocurrency exchange-traded funds (ETFs) are here to stay as the growth of crypto wallets continues to expand. Speaking at the Solana Accelerate event in New York, Wood highlighted that while crypto wallets offer added protection and independence, the ease and convenience of ETFs will keep them popular among traditional investors. She commented: I think ETFs are an important stepping stone because, you know, wallets seem so complicated, so much friction for consumers, they just wanna push a button. – Cathie Wood Cathie Wood says wallets act as insurance policies for investors Wood argued that ETFs will remain attractive to those using them for convenience, though these crypto products may ultimately act as a bridge to wallet-based solutions. She added that investors are still drawn to the offer of decentralization wallets, saying they are “insurance policies” against failures in traditional financial systems. So far, there are roughly 200 million active Bitcoin wallets globally, per Bitbo’s data. Meanwhile, U.S.-based spot Bitcoin ETFs saw around $2.75 billion in inflows during the trading week ending May 23, as Bitcoin surged to a record high of $111,970 on May 22. Spot Bitcoin ETFs have received over $44 billion in inflows, while spot Ether ETFs have only recorded $2.77 billion since launch. Wood explained that Ether ETFs saw less success because the US Securities and Exchanges Commission did not permit staking. Nonetheless, she believes Ether could be the gateway for new investors to understand smart contracts before moving on to assets like Solana. Eric Balchunas, interviewing Wood, also claimed that several investors are hoping for a Solana ETF more than Ether or XRP ETFs. Wood, however, claimed that President Trump’s decision to introduce his memecoin, TRUMP, on the Solana network may have altered some investors’ perception of…
Filed under: News - @ May 25, 2025 3:18 pm