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Benzinga
Benzinga
Business
Aniket Verma

Cathie Wood's Ark Invest Mulling 'Purpose-Built' Ethereum Investment Tools, Says Analyst After Firm Buys $180 Million Stake In Tom Lee-Led ETH Treasury Company

ARK Ark Invest Ethereum Crypto Cryptocurrency
Ethereum,Virtual,Currency,On,Black,Screen

Cathie Wood-led Ark Invest is betting on the transformative potential of smart contract Layer-1 tokens like Ethereum (CRYPTO: ETH) in decentralized finance, the company’s leading cryptocurrency analyst said on Wednesday.

What Happened: Lorenzo Valiente, Director of Research at Ark, described smart contract Layer-1 tokens as a “distinct and transformative asset class.”

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