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

Report: ARK Invest CEO Cathie Wood stated at the Solana Accelerate event in New York on May 23 that despite the broader adoption of crypto wallets in the future, crypto ETFs will continue to hold a significant place in the market, as they provide users with a more convenient participation method. She said: "ETFs are an important transitional form. Unlike the complexity of wallet operations, many consumers simply want to 'press a button' to complete their investment." Wood emphasized that wallets will be more like a "insurance mechanism", while ETFs are suitable for users seeking convenience. Data shows that the spot Bitcoin ETFs launched in the US have attracted approximately $44.49 billion in inflows since January 2024, with $2.75 billion flowing in during the week of May 23 alone. Spot Ethereum ETFs have attracted around $2.77 billion since their launch in July 2024. Wood also mentioned that spot Ethereum ETFs do not support staking functionality, which has affected their market performance, and noted that Ethereum remains the preferred entry point for new users to understand smart contract ecosystems, potentially gradually shifting towards chains like Solana. She additionally pointed out that the event of Trump issuing a TRUMP meme coin on the Solana network might make some institutional investors cautious, "Such events could potentially deter some older investors." Wood stated that her team is studying Solana's pricing model and will publish their findings after completing the research. Previously, ARK had raised its Bitcoin bull market price expectation for 2030 from $1.5 million to $2.4 million. (Cointelegraph)