Cathie Wood: Bitcoin price rally through bank crisis will 'attract more institutions'

Quick Take

  • Cathie Wood said bitcoin’s’ recent price moves will attract more institutional investors.
  • Institutional investors should allocate between 2.5% to 6.5% of their portfolios into digital assets, similar to the allocations they historically have made for other emerging assets, Wood said. 

Ark Invest CEO Cathie Wood believes bitcoin's price rally through the bank crisis will bring more institutional investors into the space.

"The fact that bitcoin moved in a very different way from the equity markets, in particular, was quite instructive," Wood told Bloomberg on Tuesday. Corporate treasuries had previously been pulling away from having bitcoin in their balance sheets because regulators themselves were pushing them to divest, she said.

Wood believes investors should diversify their portfolios further into digital assets. In a report targeting institutional investors, Ark recommended they should allocate between 2.5% to 6.5% of their portfolios to crypto “if they care about this new asset class diversifying their portfolios.” This allocation would be similar to the size institutional investors historically have allocated to emerging asset classes, Wood said.

Bitcoin is up about 40% compared to 10 days ago, trading at around $28,200.


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Ark Invest wrote in a note this week that Bitcoin and other cryptocurrencies were behaving like "safe havens."

The company has recently furthered its investment into crypto or crypto-related companies, such as Coinbase, Robinhood and Block. It also raised more than $16 million for a new crypto fund.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Catarina is a reporter for The Block based in New York City. Before joining the team, she covered local news at and at the New York Daily News. She started her career in Lisbon, Portugal, where she worked for publications such as Público and Sábado. She graduated from NYU with a MA in Journalism. Feel free to email any comments or tips to [email protected] or to reach out on Twitter (@catarinalsm).


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