Zcash (ZEC), Horizen (ZEN) and Hedget (HGET) soar as altcoins lift off

Three of Cathie Wood’s ARK exchange-traded funds bought nearly $246 million worth of Coinbase Global Inc. (COIN) shares on its listing day. Another fund, Amplify Transformational Data Sharing ETF (BLOK) also purchased COIN stock. These purchases show that ETFs are eager to buy into the crypto growth story.

Crypto market data daily view. Source: Coin360

However, Blackrock CEO Larry Fink has a different point of view. Fink said that institutional investors were fascinated by crypto but that did not translate into demand from institutions worldwide.

One of the reasons for the fascination not turning into demand could be the sharp rally in Bitcoin and other cryptocurrencies. A new survey of professional investors by Bank of America shows that 74% of the respondents believe Bitcoin (BTC) is in a bubble.

Such criticisms are not new to cryptocurrencies. Traders who ignore the noise and purchase fundamentally strong coins generally tend to make huge returns in the long term.

Let’s retouch on three tokens which Cointelegraph analyzed earlier this year to see if they have continued their upward trajectory.