Kevin O’Leary Expects Crypto To Woo Institutions: Bitcoin ETF Isn’t The Only Showstopper

Shark Tank’s Kevin O’Leary, aka Mr. Wonderful, underscores enduring institutional interest in crypto and bitcoin. He asserts that the SEC’s verdict on spot bitcoin ETFs won’t significantly impact their long-term prospects.

Kevin O’Leary Weighs In On How Spot Bitcoin ETFs Affect Institutional Crypto Demand

Kevin O’Leary, the chairman of O’Leary Ventures, discusses the possible impact of SEC-approved spot Bitcoin ETFs on institutional crypto interest.

He shared on social media platform X Wednesday: “Bitcoin has a spectacular appreciation. Why? The anticipation of the SEC approving the first bitcoin ETF before Jan 10th. I’m not so sure. Gary Gensler at the SEC has never confirmed any timetable for a bitcoin ETF.”

However

Even a no decision will not change the long-term potential!

Mr. Wonderful noted:

During an interview on Tradertv Live on December 29, O’Leary clarified his stance, expressing skepticism about the SEC’s approval of a spot Bitcoin ETF. He highlighted that he doesn’t foresee Chairman Gensler making such a decision, considering the existing regulatory agenda.

However, Mr. Wonderful remains firm in his belief that the SEC’s decision regarding spot Bitcoin ETFs won’t alter institutional investor interest in crypto.

Even if he says no, I don’t think it’s going to change the momentum of what’s occurring here, because really big things happen to change institutional interest to the upside in crypto.

He opined:

“The big holdback on bitcoin and ethereum, the granddaddies of crypto, has been the fact that institutions, particularly sovereign wealth, have not allocated their traditional 1% to 3% to that asset class. Well, they are waiting for the regulator to approve it,” Mr. Wonderful detailed.

In November of last year, O’Leary shared that the institutions and major organizations he engaged with were poised to invest in Bitcoin. He highlighted their disinterest in the “10,000 token story,” noting Bitcoin’s establishment as a liquid asset and a reliable store of wealth, often viewed as a commodity.

The Shark Tank personality pointed out that a spot Bitcoin ETF’s approval relies on an SEC-compliant exchange. He cited Coinbase’s legal dispute with the SEC, indicating a compliance issue. O’Leary, noting U.S. crypto regulations as “very aggressive,” maintains that most tokens hold no value and will likely become worthless.

* We hope this information will help you in your investment process, but this is not investment advice. Every investment carries risk, especially in this industry, so DYOR before making a decision.