The Triumph of Intellectual Prowess: Former FTX Spokesperson Kevin O
Famous entrepreneur and former FTX spokesperson Kevin O’Leary recently stated on the Fox Business program that as a long-term holder of Bitcoin, he personally will stay away from Bitcoin spot ETF and other similar products.
Table of Contents:
Toggle
Kevin O’Leary: Bitcoin ETF Not Worth Holding
Only 3 Out of 11 ETFs Will Ultimately Remain
Kevin O’Leary: Bitcoin ETF Not Worth Holding
Kevin O’Leary believes that the approval of Bitcoin ETFs is a good thing and could further promote regulatory policies in the cryptocurrency and blockchain industry. However, he points out the issue of high costs associated with holding Bitcoin ETFs.
He said:
Advertisement – Continue scrolling for more content
These products are almost the same, although each provider will tell you otherwise, and the expense ratios for these ETFs range from 0.21% to 1.5%. If you, like me, consider Bitcoin as a long-term holder of digital gold, I will never buy ETFs. Why should I pay these fees? It is completely unnecessary, and they have no value to me.
For a comparison of Bitcoin spot ETF prices, please see:
(
Hidden Costs of Bitcoin Spot ETFs You Must Know, Overview of BTC Investment Methods and Costs
)
Only 3 Out of 11 ETFs Will Ultimately Remain
Kevin O’Leary also believes that it is not possible for all 11 Bitcoin spot ETFs to continue to exist, and he urges attention to the asset management scale of the issuers. Perhaps only 2 to 3 ETFs will ultimately remain.
He stated:
I bet that large institutions like Fidelity and BlackRock will eventually come out on top because they have massive sales teams. If it’s institutions, they simply don’t care about these things because they will never buy ETFs and pay high fees.
Kevin O’Leary
Bitcoin Spot ETF
Further reading
BlackRock CEO: China Bans Bitcoin Due to Authoritarianism, Bitcoin is a Transnational Ledger Bigger Than Governments
Multiple Bitcoin ETFs Have Lower Fees Than Coinbase, Spokesperson: No Plans to Lower Transaction Fees.
