Cathie Wood Plans Tokenization, Warns on Memecoins

Cathie Wood, CEO of Ark Invest, plans to tokenize the firm's funds once U.S. regulations become clearer, highlighting that the current lack of rules around security tokens limits entry into the tokenization market. She expressed skepticism about the value of memecoins, predicting most will become worthless, and advised investors to be cautious as the SEC has deemed memecoins as non-securities, leaving them unregulated. Despite her negative outlook on memecoins, Wood remains optimistic about established cryptocurrencies like Bitcoin and Ether, forecasting significant future importance and growth. Her firm does not plan to invest in memecoins, viewing them mostly as digital collectibles with limited value. Additionally, she believes that Bitcoin could surpass $1 million by 2030 due to its increasing use cases.