Cathie Wood Says Ether ETF Filings Were Approved Because Crypto Is an Election Issue
Summary
ARK Invest CEO Cathie Wood stated that crypto has become a U.S. election issue, leading to the sudden approval of key documents for proposed ether exchange-traded funds (ETF). The approval was unexpected, with sentiment evolving around the FIT21 Act and former President Trump's support for crypto. Wood emphasized ARK's support for bitcoin as a public good and announced plans to allocate a percentage of private fund revenues to support Bitcoin developers. She also expressed a bullish sentiment on bitcoin, predicting a price of $1.5 million by 2030 and emphasizing its superiority over ether. Wood also mentioned the unlikelihood of meme coin-focused funds being accepted by wirehouses.
