Cathie Wood: Bitcoin and Ethereum are ‘on the right track,’ despite collapse of several crypto companies

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Ether has been ushering in a financial services “revolution,” said Cathie Wood, chief executive at ARK Invest. Wood’s flagship Ark Innovation ETF fell more than 67% in 2022, but has regained about 24% so far this year.

Cathie Wood, chief executive at ARK Invest, reiterated her support for cryptocurrencies such as bitcoin and ether on Monday, despite several digital asset companies collapsing last year and fresh signs that U.S. regulators want to tighten their control over the industry.

The so-called web three, or the next generation of the internet that some think could be decentralized, has been leading a “third revolution” in digital property rights, Wood told CNBC.

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