Cathie Wood Doubts TRUMP Meme Coin’s Utility
ARK Invest CEO and CIO Cathie Wood recently expressed doubts about the utility of Trump Meme Coin, a new cryptocurrency associated with U.S. President Donald Trump.
In an interview with Bloomberg Television, Wood noted that her company generally avoids investing in meme coins.
Cathie Wood tags Trumpcoin as part of ‘Meme coin moment’
Wood compared to 2017 ICO movement, This is caused by CryptoKitties. As such, she categorizes Trump as part of the current “meme coin moment.” Still, she said, Trump’s effectiveness remains uncertain.
“So far, we don’t know how useful this coin is, other than it being a memetic point for President Trump himself,” Wood admit.
She also addressed the speculation surrounding the meme coin, noting that one of its rumored uses is said to be Opportunity to meet the President. Wood, however, expressed uncertainty about the validity of such claims.
“I think he is leading the next phase of the cryptocurrency revolution,” she added.
When asked about investing in Trumpcoin or other memecoins, the CEO clarified that ARK Invest has largely avoided memecoins, instead prioritizing cryptocurrencies with significant utility and potential.
She highlighted Bitcoin (BTC), Ethereum (ETH) and Solana (Sol) as their primary area of focus, noting that Bitcoin is central to their strategy, ARKB is one of the larger Bitcoin ETFs.
Wood also emphasized that Ethereum and Solana play key role Due to its importance in support, invest it in their private funds Decentralized financial services, commonly known as DeFi or “finternet,” which she believes will drive substantial innovation in the crypto space.
“We consider them the Big Three,” the CEO said.
However, despite being a new entrant, Trump has also gained significant market traction. With a market cap of $7.42 billion, it ranks firmly as the 29th largest cryptocurrency and the third largest meme coin by market cap.
This rapid rise has also drawn institutional attention. For example, Rex Shares has applied for Meme token ETF, including TRUMP and other meme tokens such as BONK and DOGE.
interestingly, President Trump admits his knowledge is limited About the Trump Meme Coin. During a recent White House press conference, he admitted that he was unfamiliar with the cryptocurrency that bears his name.
Meanwhile, Trump isn’t the president’s only foray into cryptocurrency. In 2024, he also launched decentralized finance World Liberty Financial (WLF) (Decentralized Finance) protocol.
Nonetheless, his involvement in the cryptocurrency space has drawn intense scrutiny. especially, U.S. Rep. Gerald Connolly calls for investigation Investigating Trump’s financial ties to crypto businesses, including World Liberty Financial Corporation.
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