The “Queen of Cryptocurrencies Issues a Key Prediction After Bitcoin's Epic Rise-min
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The “Queen of Cryptocurrencies” Issues A Key Prediction After Bitcoin’s Epic Rise

-Renowned investor Cathie Wood analyzed the scenario after approving Bitcoin ETFs and gave a forecast on digital currencies.

Following Bitcoin’s meteoric price surge to new highs, the prominent crypto investor Cathie Wood shared an outlook on the prospects of digital asset exchange-traded funds (ETFs) beyond those tracking flagship asset BTC.

Nicknamed the “Queen of the Stock Market” for her shrewd picks across growth sectors like tech and genomics, Wood’s Ark Invest firm made a bold call – expecting United States regulators to potentially greenlight Ethereum-based ETFs but remain hesitant regarding “altcoin” alternatives soon.

Speaking on a Wall Street Journal podcast, Wood explained the reasoning behind her selective forecast. With the precedents set by the approval of the first Bitcoin ETFs in 2021 coupled with Ethereum’s emergence as the second largest crypto asset, she believes the case for an ETH ETF is strong. However, for the over 13,000 other alternative cryptocurrencies comprising the broader altcoin market, Wood thinks regulatory barriers will stay raised for now.

Citing greatly inferior trading volumes and adoption levels outside of “Big 2” Bitcoin and Ethereum, the SEC will likely judge most altcoins as too speculative and volatile for mainstream ETF packaging targeted towards retail investors presently. Of course, exceptions may emerge if certain altcoins eventually transition from their current niche use cases to foundational utility status powering decentralized ecosystems and applications in the coming years.

For Ark Invest itself and other asset managers like Fidelity and Invesco who have filed for altcoin index or thematic ETF products tracking sectors like NFTs and DeFi, hopeful approvals likely hinge on wider altcoin legitimacy over time. But with Bitcoin and Ethereum currently commanding nearly 80% of crypto asset capitalization, Cathie Wood’s call for near-term regulatory nods favoring this leading duo appears sensible. The “Queen of Cryptocurrencies” has spoken.

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