Cathie Wood: Even if crypto wallets become popular, ETFs will not lose their appeal

Odaily Planet Daily News ARK Invest CEO Cathie Wood said at the Solana Accelerate event held in New York on May 23 that although crypto wallets will be more widely popular in the future, crypto ETFs will still occupy a place in the market for a long time because they provide users with a simpler way to participate. She said: "ETF is an important transitional form. Compared with the complexity of wallet operations, many consumers just want to 'press a button' to complete their investment." Wood emphasized that wallets will be more like an "insurance mechanism", while ETFs are suitable for users who pursue convenience. Data shows that the spot Bitcoin ETFs currently launched in the United States have attracted a total of approximately US$44.49 billion in inflows since January 2024, with an inflow of US$2.75 billion in the week of May 23 alone. The spot Ethereum ETF has attracted approximately US$2.77 billion since its launch in July 2024. Wood also mentioned that the spot Ethereum ETF does not support the staking function, which affects its market performance, and pointed out that Ethereum is still the preferred entry point for new users to understand the smart contract ecosystem, and may gradually turn to chains such as Solana in the future. She also pointed out that Trump's issuance of TRUMP memecoin on the Solana network may make some institutional investors reserved, "such events may scare off some older investors." Wood said that her team is studying Solana's price model and will announce it after the research is completed. Previously, ARK had raised its 2030 Bitcoin bull market price forecast from $1.5 million to $2.4 million. (Cointelegraph)