Cathie Wood Support Crypto ETFs As Wallet Dey Grow, Criticize SEC Wey Dey Slow Down—Bitcoin and Ether ETFs Dey Lead Money Wey Dey Enter, Solana Dey Look For New Products For Future
Cathie Wood, wey be CEO for ARK Invest, tok again say crypto ETF dem get long-term importance, even as crypto wallet wan blow everywhere. As she dey yarn for New York's Solana Accelerate event, she point out say even if digital wallet dem don dey trend well with over 200 million active Bitcoin wallets for worldwide, ETF dem still be de best choice for regular investors because dem easy to use and dem fit access dem with normal brokerage accounts. US spot Bitcoin ETF dem don see over $44 billion enter since January 2024, including $2.75 billion for one recent week when Bitcoin hit new high of $111,970. But for spot Ether ETF dem, na only $2.77 billion enter, mostly because of SEC restrictions, especially de ban on staking inside ETF dem. Wood say Ether still open door for investors to check out smart contracts and other blockchain assets like Solana. Meanwhile, VanEck and other big players for de industry vex say SEC dey delay approval for ETF dem anyhow and dem no dey transparent, including de postponement of applications for spot XRP and ETF dem with in-kind creations and options. Market people still hope say future ETF dem go launch, including possible Solana ETF dem, especially after big tori like Donald Trump's memecoin on Solana. De wahala wey dey between ETF innovation and clear regulation go fit affect how crypto dem go perform for short term, with how product easy to get and regulation change go shape how people go adopt am for future.
Bullish
Di news show say investor dem crypto ETF well well, especially Bitcoin ETF, because moni dey rush come in and price don high. People just like ETF because e easy to connect mainstream investors, meaning say demand no go stop. Regulatory delay and say dem stop Ether ETF staking dey limit small growth, but dem get hope for future products like Solana ETF and new ideas, say e go bring good movement for mid to long term. SEC wey no sabi wetin dem want fit cause small wahala for short term, but generally, Bitcoin and other ETF products still dey strong as dem dey make institutions and normal people join.