- CEO of Ark Invest Cathie Wood calls Ethereum the clear winner.
- She says it in terms of institutional protocol, as most projects chose to build on its network.
- She believes that is because despite it being expensive and slow, it is very decentralized.
The hype for Ethereum continues to rise, with the latest boost coming from the CEO of Ark Invest, Cathie Wood. To highlight, Cathie Wood calls Ethereum the clear winner for institutional protocol. In detail, she shares that she holds this belief because Ethereum, while it might be higher cost and a little slower, is certainly more decentralized. This statement provokes a wide range of responses from the crypto community.
Cathie Wood Calls Ethereum the Clear Winner
Catherine Duddy Wood is a reputed American investor and founder. She is also the Chief Executive Officer (CEO) and Chief Investment Officer (CIO) of Ark Invest, a popular investment management firm. What she is mostly known for amongst the crypto community is her pro-crypto stance and her active role in encouraging the US government and its leaders to boost pro-crypto policies.
Above all the crypto assets in the market, it is ETH that has been drawing large accumulation drives from institutions and treasuries. This is a huge shift from the last bull cycle, when entities were mostly accumulating BTC over ETH. However, in the ongoing bull cycle, both BTC and ETH were being accumulated until ETH started to outperform BTC, leading to entities accumulating more ETH over BTC.
To highlight a few, BalckRock has been accumulating more ETH over BTC, and Bitmine Immersion, led by Tom Lee, has already accumulated 1% of the ETH total supply and aims to hold up to 5% of the entire ETH supply. But why are institutions and treasuries flocking towards ETH of BTC, besides the obvious fact that ETH price could pump much greater in comparison to BTC, which has already pumped hard this bull cycle.
Ethereum’s Decentralized Nature Makes it Ideal for Institutional Adoption
As we can see from the post above, Cathie Wood says that while Ethereum, as a blockchain, might be higher cost and a little slower, it’s more decentralized, and therefore, more secure. She goes on to say how Ark Invest carefully observes which projects have been signing on to what protocol, as they began to develop their digital asset strategies. The first being Coinbase, which chose ETH as its L2 base.
Adding on, she mentioned Robinhood as well. Thus, she concludes that ETH is the clear winner for institutional protocol. She also mentions how Solana offers as a possible option, yet most projects choose Ethereum, reinforcing her statement. However, with Cardano’s latest upgrades, it is being called the only truly decentralized ecosystem in the industry. Will the blockchain development sector see a gradual shift from Ethereum to Cardano?
