Cathie Wood’s Ark Invest Mulling ‘Purpose-Built’ Ethereum Investment Tools, Says Analyst After Firm Buys $180 Million Stake In Tom Lee-Led ETH Treasury Company
Cathie Wood-led Ark Invest is betting on the transformative potential of smart contract Layer-1 tokens like Ethereum (CRYPTO: ETH) in decentralized finance, the company’s leading cryptocurrency analyst said on Wednesday.
What Happened: Lorenzo Valiente, Director of Research at Ark, described smart contract Layer-1 tokens as a “distinct and transformative asset class.”
He specifically discussed Ethereum, highlighting some of its properties, such as its ability to secure the on-chain economy via proof-of-stake, enable transactions and act as programmable collateral at the protocol layer.
“Given these unique properties, we’re excited to explore purpose-built investment vehicles and strategies tailored to this emerging landscape,” Valiente said. Ark CEO Wood reposted his X post.
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