Reported 4 months ago
Cathie Wood, CEO of ARK Invest, mentioned that the sudden approval of key documents for proposed ether exchange-traded funds (ETF) was influenced by crypto becoming a significant topic in U.S. elections. The surprising passage of FIT21 in the House reflects the increasing importance of crypto in the political landscape. Wood highlighted that while a solana ETF might get approval, meme coin-focused funds are less likely to be accepted by wirehouses. Additionally, Wood emphasized ARK's belief in bitcoin as a public good, confirming that the Ark 21Shares Bitcoin ETF approved in January won't generate revenue. She also revealed ARK's plan to support Bitcoin developers with a percentage of private fund revenues. Despite ether's recent success, Wood reaffirmed her bullish stance on bitcoin, labeling it as a superior global monetary system and asset class.
Source: YAHOO