ICYMI – Cathie Wooden: Ethereum is rising because the institutional blockchain

Ark Make investments CEO Cathie Wooden says Ethereum is solidifying its position because the go-to blockchain for institutional use, pointing to rising adoption throughout main platforms and the stablecoin market. Chatting with CoinDesk, on Monday, US time, Wooden famous that each Coinbase and Robinhood have chosen to construct their Layer 2 networks on Ethereum, whereas the majority of the stablecoin increase is happening on the protocol.

Wooden contrasted Ethereum’s utility with Bitcoin, highlighting that ETH treasuries may be staked to generate yield, including one other layer of performance. “We had a thesis Ethereum could be the institutional protocol,” she stated, “and now it’s enjoying out in actual time.” Whereas acknowledging Ethereum may be greater price and somewhat slower, Wooden confused its decentralisation and safety benefits.

The feedback come as Ark ETFs take their first substantial place in ETH. Wooden additionally revealed Ark has invested in Tom Lee’s $BMNR, which she described as the biggest Ethereum treasury on this planet.

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Earlier on ETH:

• No stopping ETH, again to US$4600+

This text was written by Aaron Cutchburt at investinglive.com.