Prominent Shark Tank Investor Advises Against Bitcoin ETFs
Kevin O’Leary, a well-known investor from Shark Tank, recently expressed his reluctance to invest in Bitcoin exchange-traded funds (ETFs). In an interview with Fox Business, O’Leary stated that he believes the fees associated with holding Bitcoin ETFs are not worth it. He argues that if you are a long-term investor who sees Bitcoin as digital gold, there is no need to pay unnecessary fees.
O’Leary does, however, acknowledge that the approval of these ETFs is a positive step towards regulatory clarity for the crypto and blockchain industry. He hopes that this development will encourage Congress to focus on digital payment systems such as USDC.
Survival of the Fittest: Only a Few ETFs Will Succeed
O’Leary predicts that only a handful of the approved Bitcoin ETFs will survive in the long run. He believes that major players like Fidelity and BlackRock will dominate the market due to their extensive sales forces. However, O’Leary notes that institutions are not interested in ETFs and would not pay the associated fees.
Hot Take: O’Leary Questions the Value of Bitcoin ETFs
Kevin O’Leary, a prominent investor from Shark Tank, has voiced his reservations about investing in Bitcoin exchange-traded funds (ETFs). In an interview with Fox Business, O’Leary emphasized that the fees associated with these ETFs are unnecessary and do not add value for long-term investors who view Bitcoin as digital gold. While he recognizes the regulatory progress reflected in the approval of these ETFs, O’Leary hopes that it will also prompt Congress to focus on digital payment systems like USDC. Moreover, he predicts that only a few of the approved ETFs will survive, with major players like Fidelity and BlackRock dominating the market. However, O’Leary points out that institutions, who are not interested in ETFs, would not pay the fees associated with them.
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