Ethereum Gets Words of Support from Ark's Cathie Wood

Alex Dovbnya

ARK Investment Management has invested millions of dollars into the shares of Grayscale Ethereum Trust

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Fri, 6/08/2021 - 6:54

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.

.@ARKInvest applauds the DeFi innovation evolving on and around the #Ethereum blockchain. https://t.co/QvK5JA1sIY
— Cathie Wood (@CathieDWood) August 6, 2021

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.

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.

#Ethereum News

About the author

Alex Dovbnya

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.