{"id":28455,"date":"2025-05-25T03:31:44","date_gmt":"2025-05-25T03:31:44","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=28455"},"modified":"2025-05-25T03:31:44","modified_gmt":"2025-05-25T03:31:44","slug":"crypto-etfs-wont-lose-their-luster-as-wallet-adoption-grows-cathie-wood","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=28455","title":{"rendered":"Crypto ETFs won\u2019t lose \u2018their luster\u2019 as wallet adoption grows \u2014 Cathie Wood"},"content":{"rendered":"
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\"Crypto<\/p>\n

ARK Invest CEO Cathie Wood says crypto exchange-traded funds (ETFs) will likely maintain their place in the economy no matter how big crypto wallet adoption becomes over the next decade.<\/p>\n

\u201cI 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,\u201d Wood said<\/a> at the Solana Accelerate event in New York on May 23.<\/p>\n

Wallets remain an insurance policy, says Wood<\/h2>\n

\u201cSo ETFs for those who want the convenience, I don\u2019t think, will lose a lot of their luster,\u201d she said. \u201cBut they will be a stepping stone into wallet-based.\u201d <\/p>\n

\u201cThese are insurance policies against something going wrong in the traditional world.\u201d<\/p><\/blockquote>\n

Bitbo data<\/a> suggests that there are around 200 million active Bitcoin (BTC<\/a>) wallets worldwide. Meanwhile, the trading week ending May 23 saw approximately $2.75 billion inflows into US-based spot Bitcoin ETFs<\/a>, coinciding with Bitcoin reaching a new all-time high of $111,970 on May 22.<\/p>\n

\"Crypto
Cathie Wood spoke to ETF analyst Eric Balchunas at Solana Accelerate on May 23. Source: <\/em>Solana<\/em><\/a><\/figcaption><\/figure>\n

Since spot Bitcoin ETFs launched in the US in January 2024, approximately $44.49 billion in inflows have been recorded, according<\/a> to Farside data. Meanwhile, spot Ether (ETH<\/a>) ETFs have seen approximately $2.77 billion in inflows since launching<\/a> in July 2024.<\/p>\n

Wood said that spot Ether ETFs were \u201cless successful than people were expecting\u201d because the US Securities and Exchange Commission did not allow staking<\/a>. On May 21, the SEC delayed its decision on Bitwise\u2019s application to add staking to its Ether exchange-traded fund.<\/p>\n

However, Wood still views Ether as the entry point for new investors to familiarize themselves with smart contracts before exploring other cryptocurrencies, such as Solana (SOL<\/a>). <\/p>\n

\u201cSo they might start in the smart contract world with Ether, but once they study the technology, and follow the developers, and see the uptake by consumers, I think they will get there,\u201d Wood said.<\/p>\n

Related: <\/strong><\/em>\u2018We are worried about a recession,\u2019 but there\u2019s a silver lining \u2014 Cathie Wood<\/strong><\/em><\/a><\/p>\n

Wood said that the launch of US President Donald Trump\u2019s memecoin, Official Trump (TRUMP), in January on the Solana network may have caused investors to be skeptical of Solana.<\/p>\n

\u201cInstitutions and you\u2019re saying 60-year-olds\u2026I think they might be a little turned off by what happened with the Trump memecoin,\u201d Wood said. Just days after its launch on Jan. 17, TRUMP slid around 50% after the president\u00a0made no crypto-related \u201cday one\u201d executive orders<\/a>.<\/p>\n

\u201cI mean, that might scare them,\u201d Wood said. Her comments came in response to ETF analyst Eric Balchunas reiterating the point that Bitcoin is \u201cso easy\u201d to explain to a \u201cboomer or adviser\u201d as being digital gold, but other cryptocurrencies \u201care tougher.\u201d<\/p>\n

Wood said her Solana price target is in progress and that she will share it once the research is complete. <\/p>\n

In April, ARK raised its \u201cbull case\u201d Bitcoin price target from $1.5 million to $2.4 million by the end of 2030<\/a>, primarily driven by institutional investors and Bitcoin\u2019s increasing acceptance as \u201cdigital gold.\u201d<\/p>\n

Magazine: <\/strong><\/em>TradFi is building Ethereum L2s to tokenize trillions in RWAs: Inside story<\/strong><\/em><\/a><\/p>\n