Cathie Wood eyes new crypto 'kid’ in fresh buying spree

ARK Invest CEO Cathie Wood is one of the strongest crypto advocates within the investment fund sector. ARK’s funds consistently scoop up shares of crypto stocks, though other tech sectors like AI also constitute their holdings.

In an interview with Bloomberg Television aired on Sep. 22, Wood talked about her investment firm’s crypto exposure and her broader outlook on virtual assets.

Related: What is Crypto? Cryptocurrency explained

ARK Invest has been increasing its exposure “generally” to digital assets, Wood said. While Bitcoin has been the leader, followed by Ethereum and Solana, she added.

BTC has surged around 80% within a year and was trading at $113,014.85 at press time, as per Kraken’s price feed. Similarly, ETH has surged more than 60% within a year and was exchanging hands at $4,203.95.

SOL isn’t far behind and has risen around 55% within a year and was trading at $223.45.

Besides these leading cryptocurrencies, Wood identified Hyperliquid as the “new kid on the block.”

Hyperliquid is a decentralized crypto derivatives exchange that has gained immense popularity within the trading community.

HYPE, the platform’s native token, was launched toward the end of November 2024 and has since rallied more than 1,400%. The cryptocurrency recently hit an all-time high price (ATH) of $59.39 on Sep. 18 and was exchanging hands at $49.20 at the time of writing.

However, Wood’s favorite Hyperliquid is facing stiff competition from Aster, another dominant decentralized crypto trading platform. ASTER, the platform’s native token, has surged more than 1,600% within a year and was trading at $1.46 at press time.

Wood said that the crypto phenomenon is actually three revolutions bundled into one.

None of this would have been possible without the blockchain technology, she underlined.

Related: What is blockchain? Explained

Cathie Wood’s ARK Invest invests in a lot of crypto stocks through its funds. The most prominent among such public companies are:

• Circle Internet Group (NYSE: CRCL), the stablecoin issuer

• Coinbase Global (Nasdaq: COIN), the largest U.S. crypto exchange

• Robinhood Markets (Nasdaq: HOOD), a leading exchange offering crypto assets and tokenized stocks

• Bitmine Immersion Technologies (Nasdaq: BMNR), the leading Ethereum treasury firm

• Block, Inc. (NYSE: XYZ), Jack Dorsey’s Bitcoin-focused fintech firm

• Bullish (NYSE: BLSH), a prominent crypto exchange