Cathie Wood, CEO of ARK Invest, believes that major broker-dealers will only accept spot exchange-traded funds (ETFs) for Bitcoin (BTC) and Ethereum (ETH).
Spot ETFs Gaining Traction
Since the approval of spot BTC ETFs, Wood has observed increased interest from large platforms like Morgan Stanley and UBS. She anticipates that these wirehouses will soon offer spot Bitcoin ETFs to their clients.
Limited Acceptance of Other Crypto Assets
Wood predicts that wirehouses will be hesitant to accept ETFs for other crypto assets. She believes they will focus on the two largest cryptocurrencies, BTC and ETH, to provide exposure to the asset class.
Due Diligence for Private Funds
While wirehouses may limit their offerings, Wood emphasizes that private funds will actively research the crypto market to identify promising assets. She advises investors to conduct thorough due diligence before investing in lesser-known cryptocurrencies.
