tl;dr
ARK Invest CEO Cathie Wood predicts that wirehouses will show interest in exchange-traded funds (ETFs) for top digital assets, specifically a spot Bitcoin (BTC) ETF and an Ethereum (ETH) ETF. She suggests that other crypto assets like Solana may also be considered by wirehouses in the future. Wood b...
Cathie Wood, the CEO of ARK Invest, anticipates that wirehouses will show interest in Bitcoin (BTC) and Ethereum (ETH) ETFs, with potential future consideration for Solana. She suggests that private funds will conduct thorough due diligence on a select few from the multitude of available crypto assets.
Wood predicts that wirehouses are currently engaged in deep due diligence on spot Bitcoin ETFs, signaling potential future offerings to their clients. She believes that wirehouses are likely to embrace only a spot Bitcoin (BTC) ETF and an Ethereum (ETH) ETF. Additionally, she mentions the possibility of wirehouses considering other crypto assets like Solana in the future.
Wood also emphasizes the need for extensive due diligence by private funds due to widespread misinformation in the crypto space. She notes that wirehouses are currently conducting due diligence on spot BTC ETFs and anticipates that they will soon offer the product to their clients. Wood highlights that major broker-dealers will probably focus on offering exposure to the top digital assets while private funds will do in-depth research to find select opportunities.
According to Wood, since the approval of spot BTC ETFs, wirehouses are deep in due diligence, asking questions about the product. She expects wirehouses like Morgan Stanley, UBS, Merrill Lynch, and Wells Fargo to start offering the spot Bitcoin ETFs to their clients in the near future. She believes that ETFs for other crypto assets could follow suit in the coming years, with potential interest in offerings beyond Bitcoin and Ethereum.