Cathie Wood: Crypto ETFs Will Remain Relevant Despite Wallet Growth

ARK Invest CEO Cathie Wood believes that cryptocurrency ETFs will continue to play a crucial role in the financial landscape, even as crypto wallets gain more widespread adoption. Speaking at the Solana Accelerate event in New York on May 23, Wood explained that ETFs serve as a simple and accessible option for investors who find the process of managing wallets too complex. “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,” Wood said. She emphasized that while crypto wallets offer added protection and independence, the ease and convenience of ETFs will keep them popular among traditional investors. “So ETFs for those who want the convenience, I don’t think, will lose a lot of their luster,” she added. ETH ETFs See Slower Growth, SOL Faces Image Challenges Bitbo data indicates that there are roughly 200 million active Bitcoin wallets globally. Meanwhile, U.S.-based spot Bitcoin ETFs recorded approximately $2.75 billion in inflows during the trading week ending May 23, coinciding with Bitcoin reaching a new all-time high of $111,970. Since their launch in January 2024, spot Bitcoin ETFs have accumulated nearly $44.5 billion in inflows. Wood also commented on the performance of spot Ether ETFs, which have seen around $2.77 billion in inflows since their July 2024 debut. She suggested that these products were “less successful than people were expecting,” largely because the U.S. Securities and Exchange Commission (SEC) did not permit staking—a key feature of Ethereum’s ecosystem. The SEC recently delayed a decision on Bitwise’s proposal to include staking in its Ether ETF . Still, Wood believes Ether can be a starting point for new investors interested in smart contract platforms. “So 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,” she explained. Cathie Wood on TRUMP Memecoin When asked about the impact of President Donald Trump’s memecoin , launched on Solana, Wood acknowledged that such events may deter institutional investors. “I think they might be a little turned off by what happened with the Trump memecoin,” she said, referring to the coin’s 50% plunge shortly after launch due to the absence of immediate crypto policy action. Wood concluded by noting that she’s still finalizing her Solana price forecast, while ARK recently raised its 2030 Bitcoin target from $1.5 million to $2.4 million. The post Cathie Wood: Crypto ETFs Will Remain Relevant Despite Wallet Growth appeared first on TheCoinrise.com .

Source: The Coin Rise