Ark Invest’s Lorenzo Valente criticizes Cardano’s relevance, Hoskinson responds

Public remarks fuel debate

Lorenzo Valente posted on platform X questioning why Cardano continues to garner industry attention, expressing skepticism about its ongoing visibility at conferences, podcasts, and sponsorship activities. He argued that the crypto sector weakens its reputation by treating Cardano as a significant project, stating that inviting Hoskinson and granting air time to Cardano “rewards irrelevance.”

Valente wrote, “It’s 2026, and we’re still talking about Cardano. We’re still inviting Charles to conferences, treating Cardano as newsworthy, accepting its sponsorship money, and giving it airtime on podcasts. Then we wonder why this industry struggles for credibility. We deserve the reputation we have. No serious industry keeps rewarding irrelevance like this.”

It’s 2026, and we’re still talking about Cardano. We’re still inviting Charles to conferences, treating Cardano as newsworthy, accepting its sponsorship money, and giving it airtime on podcasts. Then we wonder why this industry struggles for credibility. We deserve the reputation we have.

Hoskinson dismisses Ark Invest critique

Charles Hoskinson, the creator of Cardano, addressed Valente’s remarks directly on X, highlighting what he described as bias from Ark Invest’s digital asset research leadership and questioning the objectivity of the critique. Hoskinson indicated that Valente’s comments reflected a personal perspective rather than an institutional viewpoint, and he expressed skepticism about receiving support from Ark Invest in the near future.

He argued, “Well, I don’t think I’ll get a fair shake from ARK Invest anytime soon 🙁 It’s sad that VCs hire people like this. An entire institution is biased by one person.”

Well, I don’t think I’ll get a fair shake from ARK Invest anytime soon 🙁 It’s sad that VCs hire people like this. An entire institution is biased by one person.

Ark Invest’s Cardano exposure

Despite Valente’s comments, official filings indicate that Ark Invest, a U.S.-based investment management firm led by Cathie Wood, continues to include Cardano among the digital assets tracked by its proposed exchange-traded fund (ETF). In January, Ark Invest applied to launch a new cryptocurrency ETF that would replicate the CoinDesk 20 Index, which features some of the most liquid digital assets, including Cardano.

Valente’s critique therefore appears to be a personal opinion and does not necessarily represent Ark Invest’s official investment outlook or strategy regarding Cardano or its ADA token.

Mini dictionary: Ark Invest, founded by Cathie Wood, is an investment management firm known for its focus on disruptive innovation. CoinDesk 20 is a digital asset index featuring the 20 most liquid crypto assets traded on trusted exchanges.

Anticipated Cardano ETF progress

The Cardano community is closely watching developments as August 9, 2026, will mark six months since the launch of regulated ADA futures on CME Group. Completion of this observation period is seen as an important milestone for any streamlined U.S. Securities and Exchange Commission (SEC) review process, which is required before potential approval of a Cardano spot ETF.

ADA futures began trading on CME Group on February 9, 2026, expanding institutional accessibility to Cardano. However, Cardano does not yet have its own spot market ETF, and some market participants are now projecting that the earliest reasonable opportunity for such regulatory approval could come in the latter part of 2026.

Many in the Cardano ecosystem see late Q3 or Q4 2026 as the period most likely for any final U.S. approvals or the commencement of spot ADA ETF trading. The event is considered by Cardano proponents as a potential turning point for broader institutional adoption in the United States.