Ethereum ETF Approval Could Surprise Us All, Says Cathie Wood

Key Points:

• Cathie Wood discussed unexpected Ethereum ETF approvals and FIT21’s impact.
• Trump’s acceptance of cryptocurrency donations has made headlines.
• Wood predicts Bitcoin could reach $1.5 million by 2030.

ARK CEO Cathie Wood discussed the unexpected Ethereum ETF approval progress and potential changes due to FIT21 and political influences, as per CoinDesk.

ARK Invest CEO Cathie Wood has shed light on the unexpected approval of key documents regarding the proposed Ethereum exchange-traded funds (ETF). Speaking at Consensus 2024, Wood revealed that cryptocurrency has become a hot topic in U.S. politics.

Cathie Wood Discusses Unexpected Approval of Ethereum ETF Documents

Initially, the Ethereum ETF seemed unlikely to gain approval. However, the sudden shift in sentiment around the Financial Innovation and Technology for the 21st Century Act (FIT21) hinted at potential changes.

FIT21, which recently gained bipartisan support in the House, has made cryptocurrency a possible election issue. Furthermore, former President Trump’s newfound comfort with Bitcoin and other cryptocurrencies also played a role.

In fact, Trump recently announced the acceptance of campaign donations in cryptocurrency, a move that received significant attention.

Readmore: High-Risk DeFi Projects Attract Billion Of Dollars In Bitcoin: Report

ARK Invest’s Predictions for Bitcoin and Potential Solana ETF

Aside from speaking about the Ethereum ETF, Wood also said that the possible approval of a Solana ETF would be a big surprise to people.

However, she did not comment on the likelihood of meme coin-focused funds getting approved, only stating that large brokerage firms and investment advisory companies always stick with the major cryptocurrencies.

Wood reiterated ARK’s belief that Bitcoin is a public good and said that ARK would donate a portion of its private fund revenues to support Bitcoin developers.

While Ethereum has gained popularity in recent months, Wood stays strong in her prediction for Bitcoin, believing the latter could reach $1.5 million by 2030.