Coinbase News: Cathie Wood’s Ark Invest Plans to Tokenize Funds and Predicts Massive Bitcoin Price Increase

In a recent development in the cryptocurrency space, Ark Invest, led by renowned investor Cathie Wood, has announced plans to tokenize its Venture and Revolution Funds. The move comes amidst evolving regulations and represents a significant step towards the mainstream adoption of tokenized assets. Here’s a closer look at the announcement and its potential implications for the future of finance.

Cathie Wood Plans to Tokenize Ark Invest Funds, Predicts $1.5M Bitcoin Price

Ark Invest, led by Cathie Wood, aims to tokenize its Venture and Revolution Funds as regulations evolve. Recently, Ark acquired 997 BTC worth $80M and Coinbase shares. Wood announced her intentions during the Digital Asset Summit in New York, emphasizing the potential of tokenization. She warned against investing in unsustainable meme coins, focusing instead on the future of tokenized funds on blockchain platforms.

Robinhood Receives ’Buy’ Rating With 50% Upside

Investment bank Compass Point rated Robinhood Markets Inc. a buy, setting a price target of $61. The note highlighted increased average revenue for Robinhood’s 12 million crypto users alongside an improving U.S. regulatory environment. Compass Point analysts estimated that Robinhood had an opportunity to generate $665 million from cross-selling to existing U.S. customers, including $150 million from staking alone. The company’s crypto business has underearned for its size after taking a cautious approach to U.S. product expansion, with crypto revenue just 19% of exchange giant Coinbase’s non-interest revenue.