Kevin O’Leary Advises Against Spot Bitcoin ETFs
Kevin O’Leary, also known as Mr. Wonderful from Shark Tank, shared his thoughts on spot bitcoin exchange-traded funds (ETFs) in an interview with Fox Business. When asked about investing in a spot bitcoin ETF and choosing among the 11 approved funds by the SEC, O’Leary emphasized the importance of considering the fees associated with each fund. However, he stated that as a long-term holder of bitcoin, he personally would never buy an ETF because he sees it as unnecessary and lacking value.
O’Leary explained, “If you are a purist and you’re just holding bitcoin for the long term as a digital gold, as I am, I will never buy an ETF. Why would I pay these fees? It’s completely unnecessary. They add no value to me.”
Despite his personal stance, O’Leary sees the SEC’s approval of spot bitcoin ETFs as positive news for institutional investors interested in entering the crypto market. He believes that not all of the approved ETFs will survive and predicts that established companies like Fidelity and Blackrock will likely come out on top due to their strong sales forces. O’Leary concluded by stating that institutional investors welcome this development and view it as an opportunity to enter the cryptocurrency space.
Hot Take: Kevin O’Leary Rejects Spot Bitcoin ETFs, Favors Long-Term Holdings
Kevin O’Leary, also known as Mr. Wonderful from Shark Tank, has firmly stated his preference for holding bitcoin directly rather than investing in spot bitcoin exchange-traded funds (ETFs). He argues that as a long-term investor in bitcoin, he sees no value in paying the fees associated with ETFs. However, O’Leary acknowledges that the approval of spot bitcoin ETFs by the SEC is a positive development for institutional investors who are interested in venturing into the crypto market. He predicts that only a few of the approved ETFs will survive, with companies like Fidelity and Blackrock having an advantage due to their extensive sales forces.
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