Cathie Wood calls on US regulators to emulate Hong Kong’s cryptocurrency policies

Wood suggests that the U.S. could learn from Hong Kong on how to address regulatory uncertainties and support blockchain practitioners better.

She termed the recent approval of 11 spot Bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) as a historic milestone, which has led to increased efforts in marketing, investor education, and training.

Wood also noted that many U.S. customers are now recognizing the investment potential across virtual assets, with growing institutional and investor interest in allocating funds to these areas for hedging purposes.

While acknowledging the risks associated with Bitcoin, including volatility in bull and bear markets, Woods maintained that the cryptocurrency’s price could rise to $1.5 million by 2030, partly attributing this projection to the adoption of Bitcoin spot ETFs.

Wood also emphasized the impact of web3 on various sectors, highlighting the potential for cross-border innovation and widespread accessibility. She also remarked on AI integration into blockchain technology, saying she foresees significant advancements in certain areas (i.e., gaming and crypto assets), citing examples like Sony’s investment in games and Polygon’s initiatives in blockchain.