Key Takeaways
- Cathie Wood praised Ethereum’s latest efforts to scale its base layer with zero-knowledge proofs.
- She admitted the tech may be over her head, but believes Ethereum is heading in the right direction.
- Her comments sparked pushback from both Bitcoin and Ethereum communities.
Cathie Wood, CEO of Ark Invest, gave a nod to Ethereum’s (ETH) evolving roadmap this week, highlighting its renewed focus on scaling Layer-1 through zero-knowledge proofs.
While she admitted the technical intricacies are beyond her full grasp, she expressed confidence that Ethereum is moving in the right direction.
Her comments came shortly after the Ethereum Foundation published a detailed blog post on its plans to integrate zkEVMs directly into the Ethereum base layer, a shift that could dramatically improve scalability and privacy.
But not everyone was thrilled.
Wood Praises Ethereum’s Direction Despite Technical Distance
In a post on X, Wood acknowledged that she didn’t fully understand the mechanics of Ethereum’s latest upgrade plans — but trusted the project’s long-term vision.
“I can’t say I understand all of the details here, but the Ethereum Foundation does seem to be proposing the right moves for scalability and privacy to maintain its lead in the institutional world,” she said.
Ark Invest has traditionally leaned more heavily into Bitcoin-focused products, with major positions in Coinbase, Tesla, and other tech-forward firms.
Her public show of support for Ethereum marks a noticeable shift, and one that caught many in the crypto community off guard.
Ethereum Isn’t a Core Holding — Yet
Despite her praise, Ark Invest hasn’t made Ethereum a cornerstone of its crypto strategy. Its crypto exposure is mainly through companies like Coinbase and its various Bitcoin ETFs.
Still, Wood’s support of Ethereum’s push toward zero-knowledge technology was enough to get some Ethereum fans excited — and some others frustrated.
“Don’t be gaslit into false technical experience – try the product yourself before you shill. There are better technologies,” one user wrote.
Bitcoin Maxis Not Happy
Wood’s comment didn’t land well with some Bitcoin supporters either.
They questioned her timing. Wood’s comments came just as Ethereum crossed $3,000, and suggested it diluted her consistent pro-Bitcoin messaging.
Some even urged her to remove previous posts promoting Tesla and Bitcoin, arguing that her endorsement of Ethereum weakened her credibility.
Despite the backlash, Wood remains one of the most vocal advocates for crypto on Wall Street.
She’s long held that Bitcoin could hit $650,000 to $1.5 million by 2030. Whether Ethereum will become a larger part of her thesis remains to be seen — but for now, she seems to like what she’s seeing.
Prashant Jha is a seasoned crypto journalist based in Delhi, India, with a Bachelor’s Degree in Computer Science Engineering. Passionate about the evolving world of blockchain and cryptocurrencies, he has been a dedicated voice in the industry since 2018. Prashant’s expertise lies in regulatory reporting, where he unravels complex legal and financial developments with clarity and precision. Before joining CCN in 2024, he honed his craft at Cointelegraph, establishing himself as a trusted name in crypto journalism.
His coverage spans major industry events, including the high-profile collapses of FTX, Three Arrows Capital (3AC), and LUNA, offering readers insightful analyses of their regulatory and market implications. Prashant’s technical background enables him to bridge the gap between intricate blockchain technology and its real-world applications, making his work accessible to novices and experts.
Beyond his professional pursuits, Prashant is an avid music enthusiast, often exploring diverse genres to unwind. A sports lover, he has a particular passion for cricket and frequently engages in discussions about the game. His multifaceted interests and sharp journalistic instincts make him a valuable contributor to CCN, where he continues shaping the crypto landscape's narrative.
