While speaking to CNBC, Ark CEO Cathie Wood said that Crypto is a small number of institutional portfolios, and "institutions are moving in" on Bitcoin and its brethren. She also claimed Cryptocurrencies as a new asset class with a "correlation very different compared to other asset classes". In the end, she stated that if institutions make a move into BTC by allocating around 5% to their portfolios over time, it could add $500,000 to the asset's price.