Cathie Wood, the CEO of ARK Invest, has expressed her belief that wirehouses will only show interest in exchange-traded funds (ETFs) for the top digital assets. In an interview with Peter McCormack at the Consensus 2024 crypto conference, Wood stated that large broker-dealers will likely embrace a Bitcoin (BTC) ETF and an Ethereum (ETH) ETF. While Bitcoin ETFs have already been launched, it is now possible that ETH ETFs could be launched later this year, and there is speculation that ETFs for other crypto assets could follow suit.

Wood does not anticipate wirehouses accepting more than two ETFs, specifically BTC and ETH. She suggests that Solana could potentially be another option, but overall, she does not believe wirehouse platforms will be interested in offering exposure to more than a few major digital assets. Wood believes that private funds will likely sift through the numerous available options and select around 20 or 30, but extensive due diligence will be necessary due to the prevalence of misinformation in the crypto space.

Wood also notes that wirehouses are currently conducting thorough due diligence on spot BTC ETFs, including the one launched by ARK, and she expects them to eventually offer these products to their clients. She states that major platforms, such as Morgan Stanley, UBS, Merrill Lynch, and Wells Fargo, are engaged in deep discussions about cryptocurrencies and are starting to ask questions that indicate their interest in incorporating BTC ETFs into their platforms.

While no wirehouse has yet added any spot Bitcoin ETFs to their platforms, Wood believes that this is likely to change based on the nature of the questions they are asking during their due diligence process.

Please note that the opinions expressed in this article are not investment advice, and investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. The Daily Hodl, the source of this article, does not endorse the buying or selling of any cryptocurrencies or digital assets, and it is not an investment advisor.