Kevin O'Leary Declares No Interest in Bitcoin ETFs, Prefers Long-Term BTC Holdings

Shark Tank Star Kevin O'Leary Rejects Spot Bitcoin ETFs, Chooses Long-Term Bitcoin Holdings

Kevin O'Leary, renowned as Mr. Wonderful and a Shark Tank investor, has announced his disinclination towards spot bitcoin exchange-traded funds (ETFs) in favor of holding bitcoin for the long term. In an interview with Fox Business, he emphasized the unnecessary nature of ETF fees, stating that they "add no value" for those, like him, who view bitcoin as digital gold.

O'Leary's Stance on Spot Bitcoin ETFs

O'Leary, the chairman of O'shares Investments and O'Leary Ventures, expressed skepticism about the 11 spot bitcoin ETFs recently approved by the U.S. Securities and Exchange Commission (SEC). He advised investors to scrutinize the fee structures, ranging from 0.21% to 1.5%, associated with each ETF. For O'Leary, a bitcoin purist holding for the long term, the fees are deemed unnecessary.

Institutional Perspective on ETF Approval

While O'Leary personally rejects ETFs, he acknowledged that the SEC's approval of spot bitcoin ETFs marks a positive regulatory development for institutional investors interested in entering the cryptocurrency space. He sees it as a significant step forward in crypto regulations.

Survival Odds of Approved ETFs

Expressing doubt about the survival of all 11 approved ETFs, O'Leary suggested that only a few may emerge victorious. He speculated that major entities like Fidelity and Blackrock might lead due to their extensive sales forces and market influence.

Institutional Indifference to ETFs

Despite regulatory advancements, O'Leary highlighted that institutions generally do not care about ETFs, as they avoid paying fees. However, he emphasized that the SEC's approval is beneficial for institutional investors considering entering the crypto market.

Ongoing Institutional Interest in Crypto

O'Leary, consistent in his positive outlook on crypto, previously anticipated strong institutional interest irrespective of the SEC's decision on spot bitcoin ETFs. In November last year, he revealed widespread institutional readiness to invest in bitcoin, emphasizing bitcoin's liquidity and its establishment as a storage of wealth.

Kevin O'Leary, also known as Mr. Wonderful, dismisses the idea of investing in spot bitcoin exchange-traded funds (ETFs) and prefers holding bitcoin for the long term, considering it as digital gold. Despite the recent SEC approval of 11 spot bitcoin ETFs, O'Leary sees the fees associated with ETFs as unnecessary and lacking value. He believes that the approval is a positive regulatory step for institutional investors, even though institutions generally remain indifferent to ETFs, prioritizing direct holdings of bitcoin. O'Leary speculates on the survival odds of the approved ETFs, suggesting that major entities like Fidelity and Blackrock may dominate the market.