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ARK Invest CEO Cathie Wood recently compared the Hyperliquid protocol to Solana’s early-stage promise. Wood described Hyperliquid as the “new kid” on the blockchain, while emphasizing that Bitcoin remains the foundational asset of the crypto ecosystem.
“This is exciting. It reminds me of the early days of Solana. Solana proved its value and now it’s there with the big players,” Wood said on the Master Investor podcast.
ARK Invest and Crypto Positions
Wood noted that ARK Invest holds three primary crypto assets, including Bitcoin, in its public funds. The firm’s exposure to Solana reflects Wood’s commitment to Solana’s ecosystem, which is also supported by Middle Eastern investors. Additionally, economist Art Laffer provides advisory connections related to the project.
Although Wood did not confirm any position in Hyperliquid, she described the protocol as “a project to watch.” This statement comes as Aster recently launched a token, surpassing Hyperliquid in trading volume and intensifying competition among perpetual DEXs.
Bitcoin Remains the Core Crypto
Despite the growing number of tokens, Cathie Wood believes the future of crypto will center around a few dominant networks.
“We don’t expect there to be too many cryptocurrencies. When it comes to pure crypto, Bitcoin owns the space,” she added.
ARK Invest also holds derivatives like Uniswap and Solana-related protocols, but its main focus remains narrow. Wood stated, “If we’re talking about the big players, these are the three right now.”
Rising Interest in DEXs
According to Bitget Wallet marketing director Jamie Elkaleh, decentralized exchanges (DEXs) are increasingly being adopted by retail and semi-professional traders, driven by airdrops, low fees, and fast user experience.
However, institutions still rely on centralized exchanges (CEXs) for fiat access, compliance, and brokerage support. Elkaleh noted that order book DEXs like Hyperliquid and dYdX v4 now offer speeds and liquidity comparable to CEXs, reducing performance gaps.
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