ARK Invest’s Cathie Wood Sees Early Potential in Hyperliquid

ARK Invest CEO Cathie Wood has drawn attention to Hyperliquid, comparing the decentralized exchange (DEX) to Solana in its early days. Speaking on the Master Investor podcast, Wood called the platform “the new kid on the block,” noting that it evokes the same excitement Solana generated before becoming a major player.

“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,” Wood said. Although she did not confirm any direct investment in Hyperliquid, her remarks suggest that the protocol is firmly on ARK’s radar.

ARK Invest currently holds three main crypto assets—Bitcoin, Ethereum, and Solana—within its public funds. The firm’s exposure to Solana comes through Breera Sports, a project tied to the Solana treasury and backed by Middle Eastern investors. Wood also highlighted an advisory link via economist Art Laffer, adding credibility to ARK’s strategic position in Solana.

Bitcoin Remains the Core Bet for ARK

While new tokens continue to enter the market, Wood maintains that the long-term future of crypto will be dominated by only a few key networks. “We don’t think there are going to be very many cryptocurrencies,” she said. “Bitcoin owns the cryptocurrency space when it comes to pure crypto.”

She described Bitcoin as a monetary system with a fixed supply and remarkable resilience, contrasting it with Ethereum’s role in powering decentralized finance (DeFi). According to Wood, stablecoins are gaining importance, but Bitcoin remains the centerpiece of ARK’s investment thesis.

Although ARK holds smaller positions in projects such as Uniswap and other Solana-related protocols, Wood emphasized that their primary focus is intentionally narrow. “If you’re talking about the big boys or girls, those are the big three right now,” she said, referring to Bitcoin, Ethereum, and Solana.

Rising Interest in Decentralized Exchanges

Hyperliquid’s growing profile reflects a broader trend toward decentralized trading. Jamie Elkaleh, chief marketing officer at Bitget Wallet, noted that DEXs are attracting retail traders and quantitative investors seeking airdrops, low fees, and rapid execution.

Institutions continue to prefer centralized exchanges (CEXs) for fiat access and regulatory compliance, but the performance gap is shrinking. Order-book DEXs such as Hyperliquid and dYdX v4 now offer the speed and liquidity once unique to CEXs.

As competition heats up—especially after rival Aster launched a token this month—Hyperliquid’s next moves will be closely watched. For Wood, it’s a reminder of how quickly emerging platforms can evolve into major market forces, just as Solana once did.