ICYMI - Cathie Wood: Ethereum is emerging as the institutional blockchain

Ark Invest CEO Cathie Wood says Ethereum is solidifying its role as the go-to blockchain for institutional use, pointing to growing adoption across major platforms and the stablecoin market. Speaking to CoinDesk, on Monday, US time, Wood noted that both Coinbase and Robinhood have chosen to build their Layer 2 networks on Ethereum, while the bulk of the stablecoin boom is taking place on the protocol.

Wood contrasted Ethereum’s utility with Bitcoin, highlighting that ETH treasuries can be staked to generate yield, adding another layer of functionality. “We had a thesis Ethereum would be the institutional protocol,” she said, “and now it’s playing out in real time.” While acknowledging Ethereum can be higher cost and a little slower, Wood stressed its decentralisation and security advantages.

The comments come as Ark ETFs take their first substantial position in ETH. Wood also revealed Ark has invested in Tom Lee’s $BMNR, which she described as the largest Ethereum treasury in the world.

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Earlier on ETH:

• No stopping ETH, back to US$4600+

This article was written by Eamonn Sheridan at investinglive.com.