"I'm kinda excited to see what Elon is going to do," Cathie Wood says of backing Musk's purchase on Twitter

Ark Invest has been a big investor in electric vehicle leader Tesla Inc TSLA and its CEO Elon Musk. The Ark Invest founder has shared his thoughts on another venture Musk may soon lead.

What happened: Ark Invest and founder Cathie Wood have been bullish on Tesla for years, with Wood giving a higher price target than its peers, which was finally achieved.

With an ongoing acquisition of social media platform Twitter Inc TWTR by Musk, Wood was asked for her thoughts on what the acquisition might mean and if she has any concerns by the potential time commitment by Musk.< /p>

"We are prolific users of Twitter, our most prolific platform is Twitter," Wood said in an interview with Yahoo Finance.

Wood said Musk could work closely with former Twitter CEO and co-founder Jack Dorsey and open up the ecosystem.

"I can't wait to see what Elon does," she said.

Wood noted that Musk could add value to the Twitter ecosystem and eliminate censorship. When asked if she was worried about the lack of censorship as an issue on the platform, Wood said no.

"We can unfollow people if there is bad behavior, it's our choice."

Wood said there's a lot of wisdom on Twitter and she's had enough of the "nonsense" on some of the other social media platforms.

"Twitter, we believe, is going to give us more tools to filter out the nonsense and get right down to business."

Related link: Cathie Wood's confidence in Tesla couldn't be higher

Why it matters: Tesla is the largest stake in three of the Ark Invest ETFs, accounting for 9.3%, 8.8% and 10.4% in the Ark Innovation ETF ARKK, Ark Next Generation Internet ETF ARKW and the Ark Autonomous Technology & Robotics ETF ARKQ, respectively.

Wood is the second Ark Invest executive to share recent comments on Musk's impending acquisition. Ark Invest chief futurist Brett Winton recently took to Twitter to reveal his views.

"Status quo ante, if @elonmusk says the 'wrong thing' and is de-platforming, it significantly degrades his ability to sync and communicate with customers, stakeholders and employees," Winton said.< /p>

Musk's acquisition of Twitter could reduce that risk, Winton said.

"Furthermore, the fact that the platform can be capriciously and arbitrarily denied to *anyone* both weakens the business case for the platform and gives the platform operator more power than is logical."

Wood and Winton's comments show that Musk can improve Twitter, which could lead to the social media platform being added to Ark Invest ETFs over time.

Twitter was previously held in the Ark Next Generation Internet ETF and the Ark Fintech Innovation ETF ARKF. Ark Invest...