Shark Tank investor Kevin O’Leary told The Pomp Podcast on Tuesday that bitcoin was too volatile and ilyquid for his wallet, but that he would have a basket of cryptocurrencies on an ETF.
O’Leary has created several ETFs as president of O’Shares, and said an ETF cryptocurrency can be the ultimate form of liquidity for buying and selling bitcoins. The investor stated that, by providing, there are too many fees related to access and bitcoin ready, however, it has a small component of the currency at this time.
“Give me the seven most sensible cryptocurrencies, put them in an ETF package and let me invest money in it so that if I need to buy a million dollars in the morning and sell a million dollars in the afternoon, I can do it in an ETF format,” he said.
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In addition, the SEC seal of approval that the ETF would want could convince more institutional investors to buy bitcoins, O’Leary said the institutional was “slowly increasing” in the bitcoin market, but that many investors still hesitate to do so. “regulatory approval. “
“If we woke up in the morning and the SEC said it can create an ETF with Bitcoin and we think Bitcoin is a valid payment and wealth storage formula, it would not only increase, but many other people like me would invest because I’d say it’s OKAY, I’ll give it a 5% weight, O’Leary added.
Fortunately for O’Leary, the prospect of a cryptocurrency ETF would probably not be far away. In October, SEC President James Clayton said the SEC is implementing regulations that can also one day authorize the use of cryptocurrency ETFs.