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Ethereum Gets Words of Support from Ark's Cathie Wood

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Fri, 08/06/2021 - 06:54
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Alex Dovbnya
ARK Investment Management has invested millions of dollars into the shares of Grayscale Ethereum Trust
Ethereum Gets Words of Support from Ark's Cathie Wood
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ARK Investment Management CEO Cathie Wood has declared her support for Ethereum and its vast decentralized finance ecosystem in her recent tweet.

Her bullishness is not limited to her Twitter handle. As of June 30, ARK owned 721,936 shares of Grayscale Ethereum Trust that were cumulatively worth $16.2 million, according to its latest filing with the U.S. Securities and Exchange Commission.   

On Aug. 5, Ether soared to $2,844 on the Bitstamp exchange, its highest level since June 4 following the activation of its London hard fork.

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Ethereum’s EIP-1559: Comprehensive Guide to London Hardfork
As reported by U.Today, Tesla CEO Elon Musk revealed that he personally owned the largest altcoin in late July.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.