Ark Investment Management founder and CEO Cathie Wood says cryptocurrency exchange-traded funds (ETFs) are here to stay as the growth of crypto wallets continues to expand. Speaking at the Solana Accelerate event in New York, Wood highlighted that while crypto wallets offer added protection and independence, the ease and convenience of ETFs will keep them popular among traditional investors . She commented: I think ETFs are an important stepping stone because, you know, wallets seem so complicated, so much friction for consumers, they just wanna push a button. – Cathie Wood Cathie Wood says wallets act as insurance policies for investors Wood argued that ETFs will remain attractive to those using them for convenience, though these crypto products may ultimately act as a bridge to wallet-based solutions. She added that investors are still drawn to the offer of decentralization wallets, saying they are “insurance policies” against failures in traditional financial systems . So far, there are roughly 200 million active Bitcoin wallets globally, per Bitbo’s data. Meanwhile, U.S.-based spot Bitcoin ETFs saw around $2.75 billion in inflows during the trading week ending May 23, as Bitcoin surged to a record high of $111,970 on May 22. Spot Bitcoin ETFs have received over $44 billion in inflows, while spot Ether ETFs have only recorded $2.77 billion since launch. Wood explained that Ether ETFs saw less success because the US Securities and Exchanges Commission did not permit staking . Nonetheless, she believes Ether could be the gateway for new investors to understand smart contracts before moving on to assets like Solana. Eric Balchunas, interviewing Wood, also claimed that several investors are hoping for a Solana ETF more than Ether or XRP ETFs. Wood, however, claimed that President Trump’s decision to introduce his memecoin, TRUMP, on the Solana network may have altered some investors’ perception of the SOL token and network, making them more cautious and skeptical. Nonetheless, she said she would share her Solana price projection once she’s done with her analysis. VanEck criticizes the SEC for delaying its decision on ETF filings without proper communication VanEck recently aimed at the SEC for what it termed as delays on several Bitcoin ETF-related applications. The firm’s head of research, Matthew Sigel, argued that the commission’s postponements affect its options trading application tied to its spot Bitcoin ETF. The investment management company criticized the company for poor communication and unclear reasoning behind the delays. Sigel cited the delay of CBOE’s 19b-4 filing on the HODL options listing, claiming the regulatory agency postponed its decision without a proper explanation. While the commission put off its approval for several filings, it is still accepting new submissions. The SEC also delayed its decision on the firm’s in-kind creation and redemption for its spot Bitcoin ETF. Similarly, Fidelity’s filing on in-kind redemptions on its spot Bitcoin and Ethereum ETFs was postponed, and no decision timeline was provided. Additionally, on May 22, the agency put off its ruling on CoinShares spot XRP ETF application. However, it did provide a timeline, pushing its deadline from May 26 to August 24. The agency also asked for public input on the firm’s filing, which added more uncertainty. KEY Difference Wire : the secret tool crypto projects use to get guaranteed media coverage
