ARK Invest CEO says the protocol reminds her of Solana’s early promise while stressing Bitcoin remains core to her thesis
Cathie Wood, CEO of ARK Invest, has compared Hyperliquid to Solana in its early days, calling it an emerging protocol worth watching in the competitive decentralized exchange (DEX) space. However, she reiterated that Bitcoin remains the centerpiece of her long-term crypto strategy.
Hyperliquid Compared to Solana
Speaking on the Master Investor podcast, Wood said: “It’s exciting. It reminds me of Solana in the earlier days, and Solana has proven its worth and is, you know, there with the big boys.”
The comments come as competition among perpetual futures DEXs intensifies. Rival platform Aster recently launched a token, recording a sharp increase in trading volume and open interest, briefly surpassing Hyperliquid.
Wood clarified that ARK has not taken a position in Hyperliquid but described it as a protocol with significant potential.
Bitcoin Remains the Foundation
Despite acknowledging innovation across decentralized platforms, Wood emphasized that Bitcoin continues to dominate the crypto landscape.
“We don’t think there are going to be very many cryptocurrencies,” she explained. “Bitcoin owns the cryptocurrency space when it comes to pure crypto.”
She described Ethereum as the backbone of decentralized finance and highlighted the growing role of stablecoins but stressed that Bitcoin’s fixed supply and resilience make it the cornerstone of ARK’s thesis.
Institutional and Retail Dynamics
Market observers note that while retail traders and semi-professional quants are increasingly drawn to DEXs like Hyperliquid and dYdX v4 for airdrop incentives, low fees, and faster execution, institutions still rely on centralized exchanges for fiat access and compliance.
Jamie Elkaleh, chief marketing officer at Bitget Wallet, noted: “Order-book DEXs are now approaching the speed and liquidity once exclusive to centralized platforms. The performance gap is narrowing.”
With ARK holding Bitcoin, Ethereum, and Solana in its public funds, Wood’s endorsement of Hyperliquid as a “new kid on the block” suggests the project may gain traction among investors. Still, her remarks make clear that Bitcoin remains the undisputed leader in ARK’s investment vision.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.