Cathie Wood: ETFs Drive Adoption, Wallets Provide Security

ARK Invest CEO Cathie Wood shared her insights at the Solana Accelerate event in New York on May 23. She emphasized that while cryptocurrency wallets are expected to become more common, cryptocurrency ETFs will maintain a significant role in the market due to their user-friendly nature.

Wood described ETFs as an essential transitional tool, highlighting that many consumers prefer the simplicity of "pressing a button" to invest, compared to the complexities of wallet transactions. She pointed out that wallets would serve more as a "insurance mechanism," while ETFs cater to users seeking convenience.

Wood also noted that the lack of support for participation in Ethereum ETFs in the spot market has affected its performance in the market. Despite this, Ethereum remains the primary entry point for new users to understand the smart contract ecosystem, although there may be a gradual shift toward other chains like Solana in the future. She mentioned that the issuance of the memecoin TRUMP on the Solana network by U.S. President Donald Trump could make some institutional investors cautious, as such events might deter older investors.

Additionally, Wood revealed that her team is currently studying Solana's pricing model and plans to publish their findings once completed. Previously, ARK had raised its price forecast for the 2030 Bitcoin bull market from $1.5 million to $2.4 million.