ARK Invest's CEO and Chief Investment Officer, Cathie Wood, advocates for the United States to emulate Hong Kong's cryptocurrency regulations, as she discussed during the latest Hong Kong Web3 Festival.

Wood praised Hong Kong's progressive approach to fostering a crypto-friendly environment, contrasting it with the regulatory uncertainties faced in the U.S. She particularly lauded Hong Kong's regulatory bodies, such as the Securities and Futures Commission (SFC), for their effective management structure and comprehensive frameworks for institutional supervision.

Wood highlighted Hong Kong's rapid advancement compared to the U.S., especially in terms of policy leadership and support for innovative technologies. She emphasized the need for the U.S. to learn from Hong Kong's approach to address regulatory uncertainties and better support blockchain practitioners. Wood also commended the recent approval of 11 spot Bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC), noting increased efforts in marketing, investor education, and training.

Acknowledging the risks associated with Bitcoin, including market volatility, Wood maintained a bullish outlook, projecting a price rise to $1.5 million by 2030, partly due to the adoption of Bitcoin spot ETFs. She highlighted growing institutional and investor interest in virtual assets for hedging purposes.

Wood also discussed the transformative impact of web3 on various sectors, emphasizing cross-border innovation and accessibility. She predicted significant advancements in AI integration into blockchain technology, particularly in areas like gaming and crypto assets, citing examples such as Sony's investment in gaming and Polygon's blockchain initiatives.