Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Cathie Wood, the CEO of ARK Invest, has built a reputation as one of the most outspoken advocates of the crypto industry. In recent remarks, she made it clear that while she sees value in Ethereum’s ecosystem, her conviction lies most strongly with Bitcoin. Her stance is rooted not only in her most recent statements, but in a consistent narrative she’s developed over the years.

Bitcoin Is The Pure Cryptocurrency

While speaking on The Master Investor podcast hosted by Wilfred Frost on YouTube, Cathie Wood reiterated her belief that Bitcoin is the pure cryptocurrency and described it as the global quantity rules-based monetary system. She noted that Bitcoin’s Layer-1 blockchain has never been hacked, and this sets it apart from other networks. She also expressed concern that Ethereum may lose dominance as Layer-2 solutions capture more activity and fees.

“In fact, Bitcoin owns the cryptocurrency space when it comes to pure crypto,” she said. “We think it’s going to be the biggest one by far,” she continued. 

Despite her preference for Bitcoin, Wood has softened somewhat toward Ethereum in certain respects. She acknowledged Ethereum’s importance in decentralized finance (DeFi) and said it plays a very important role in the ecosystem. However, this importance could be undermined by other Layer-2 networks like Coinbase’s Base, which are going to be competing with one another. 

Earlier Statements And Views On Crypto Assets

More recently, Cathie Wood praised Ethereum’s shift toward zero-knowledge proof (ZK) scaling techniques, even if she admitted she doesn’t fully grasp all the technical details.

“I can’t say I understand all of the details, but the Ethereum Foundation does seem to be proposing the right moves for scalability and privacy,” she said on the social media platform X. 

At the same time, the Ark Invest CEO also noted some new protocols and on-chain derivatives platforms like Uniswap as ones to watch. She compared Hyperliquid to Solana’s early days and noted that it has promising potential. 

Still, she has been clear that not every cryptocurrency earns her confidence. Wood has stated openly that she is not a believer in the vast majority of tokens circulating in the market. Instead, her conviction rests on a few core assets that she believes will dominate in the long term. In her view, Bitcoin, Ethereum, and Solana stand apart as the big three. 

“Those are the big three right now,” she said.

She acknowledged the importance of stablecoins but also noted that they do not belong in the same category as these leading cryptocurrencies.

Ark Invest, through its ARK 21Shares Bitcoin ETF (ARKB), owns 43,799 BTC worth $4.91 billion. Cathie Wood has made strong, repeated predictions for Bitcoin’s future value. Back in May, she reaffirmed her belief that Bitcoin could trade as high as $1.5 million by 2030.

The company also maintains exposure to Ethereum, including positions connected to Bitmine Immersion, whose recent Ethereum acquisition spree has made it the biggest Ethereum treasury firm in the world.

Featured image from Getty Images, chart from Tradingview.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Ethereum (ETH) adoption shows no signs of slowing down, as the second-largest cryptocurrency by market cap continues to attract firms looking to diversify their corporate treasury strategies.

Yunfeng Financial Buys $44 Million In Ethereum

According to an announcement earlier today, Hong Kong-listed Yunfeng Financial Group is the latest entity to invest in Ethereum. The firm purchased 10,000 ETH worth approximately $44 million.

The announcement states that the ETH purchase was primarily funded through internal cash reserves. Notably, on July 14, the firm disclosed plans to expand into areas such as Web3, Real World Assets (RWA), and artificial intelligence (AI).

For the uninitiated, Yunfeng Financial Group is a Hong Kong-based publicly-listed firm offering investment and financial services. Notably, Chinese billionaire Jack Ma is a key associate of the group.

Regarding the ETH acquisition, the company explained that Ethereum was chosen over other digital assets to support infrastructure for RWA tokenization. The company added:

This measure will also facilitate the Group’s technological innovation in the Web3 field, and realize the comprehensive and organic integration of finance with technology for its clients, which will effectively enhance client’s service experience and financial autonomy. On the other hand, the Company will explore the potential applicable models of ETH in the Group’s insurance business, as well as innovative business scenarios compatible with Web3.

The announcement also noted that Yunfeng Financial Group intends to classify ETH as an investment asset on its balance sheet. Holding ETH will help diversify its asset base and reduce reliance on traditional fiat currencies. 

The Jack Ma-linked firm plans to leverage ETH in insurance operations and decentralized finance-based (DeFi) business scenarios. This could include using ETH as collateral for DeFi loans or using it to provide liquidity.

In similar news, Ethereum-focused firm Ether Machine announced that it had raised $654 million worth of ETH in private financing, ahead of its highly-anticipated Nasdaq listing later this year.

To recall, the Ether Machine was formed via a merger between the Ether Reserve and Dynamix Corporation earlier this year. The firm is expected to go public with almost 500,000 ETH, worth $2.16 billion.

Will ETH Flip Bitcoin?

Although Bitcoin (BTC) remains the largest cryptocurrency with a market cap exceeding $1 trillion, ETH is steadily catching up. Recent data shows that Ethereum exchange-traded funds (ETFs) are already outshining their BTC counterparts.

One major factor driving ETH adoption is its broad range of use cases. VanEck CEO Jan van Eck recently dubbed ETH the “Wall Street token.” At press time, ETH trades at $4,299, down 1.4% over the past 24 hours.

Featured image from Unsplash.com, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

In an announcement yesterday, Nasdaq-listed software company GameSquare Holdings revealed that it had purchased $5 million worth of Ethereum (ETH) as part of its $100 million ETH-focused treasury strategy. With this move, GameSquare joins a growing number of companies diversifying their corporate treasuries by investing in digital assets.

GameSquare Embraces Ethereum As Part Of Treasury Strategy

As the cryptocurrency market regains bullish momentum – highlighted by Bitcoin (BTC) reaching successive all-time highs (ATHs) over the past few days – mainstream interest in digital assets is once again surging. In this context, Ethereum continues to see rising adoption.

The Texas-based firm recently completed its initial ETH purchase, acquiring 1,818.84 ETH at a weighted average price of $2,749, totalling $5 million. This marks the first step in GameSquare’s broader plan to deploy $100 million into Ethereum and related digital assets.

The company’s strategy focuses on building a crypto-native treasury framework designed to generate sustainable, risk-adjusted yield through decentralized finance (DeFi) protocols and the broader Ethereum ecosystem. Commenting on the development, Justin Kenna, CEO of GameSquare said:

In partnership with Dialectic and Ryan Zurrer, we are leveraging Medici, Dialectic’s proprietary platform that combines machine learning, automated optimization, and multi-layered risk controls, to target best-in-class risk-adjusted yields of 8-14%, well above current staking benchmarks of 3-4%.

Unlike traditional treasury strategies focused around Bitcoin, GameSquare’s ETH allocation seeks to actively generate yield by engaging with DeFi infrastructure, rather than simply holding the asset. This signals a novel growing trend of companies favoring ETH over BTC for treasury diversification.

While pursuing higher returns typically involves increased risk, Medici’s reputation for advanced risk management and performance tracking offers a layer of confidence. As more companies embrace ETH-based yield strategies, DeFi protocols are likely to attract deeper liquidity over time.

Smart Money Accumulating ETH

Despite currently trading about 40% below its ATH of $4,878  – set back in November 2021 – Ethereum is seeing increased accumulation by large investors, often referred to as “smart money.”

For instance, recent on-chain data shows that ETH whales – wallets holding between 10,000 to 100,000 ETH – added heavily to their holdings earlier this month, scooping as much as 200,000 ETH.

Simultaneously, Ethereum-based spot exchange-traded funds (ETFs) are gaining traction. Data from SoSoValue indicates nine consecutive weeks of positive inflows as of July 10, reinforcing broader investor interest in ETH.

That said, some caution remains warranted, as not all ETH-focused treasury strategies have yielded favorable results historically. At press time, ETH trades at $2,993, up an impressive 7.4% in the past 24 hours.

Featured image from Unsplash.com, charts from SoSoValue and TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.