Kevin O'Leary, the famous Shark Tank host and former FTX spokesperson, recently stated on the Fox Business program that as a long-term holder of Bitcoin, he will personally stay away from products such as Bitcoin spot ETFs.
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ToggleKevin O'Leary: Bitcoin ETF is not worth owning
Kevin O'Leary believes that the passage of Bitcoin ETF is a good thing and is more likely to further promote regulatory policies in the cryptocurrency and blockchain industries. However, he pointed out that the cost of holding Bitcoin ETF is too high.
He said:
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These products are all pretty much the same, although every vendor will tell you otherwise, and the fee structures for these ETFs range from 0.21% to 1.5%. If you are like me and are a long-term holder of Bitcoin as digital gold, I would never buy an ETF. Why should I pay these fees? This is completely unnecessary and they have no value to me.
For a price comparison of Bitcoin spot ETFs, see:
( You must know the hidden fees of Bitcoin spot ETFs, an overview of BTC investment methods and fees )
Out of 11 ETFs, only 3 will be left.
Kevin O'Leary also believes that it is impossible for all 11 Bitcoin spot ETFs to continue to exist. He called for attention to the issuer's asset management scale, and perhaps only 2 to 3 ETFs will eventually be left.
He said:
My bet is that the big players like Fidelity and BlackRock will win out because they have huge sales teams. If it were an institution, the institution wouldn't care at all because they would never buy ETFs and pay high fees.
