Published on April 7, 2024 at 11:28 AM, this article discusses the recent introduction of the first Bitcoin ETF and its impact on the cryptocurrency market. “Shark Tank” star Kevin O’Leary shares his opinion on the ETF, highlighting the unnecessary fees associated with it and the benefits of direct Bitcoin ownership.

In a recent interview, O’Leary acknowledges the significance of the Bitcoin ETF as a milestone for wider adoption, but also emphasizes the advantages of owning the coin directly. He sees the ETF as a signal towards the end of the “crypto cowboy” era and a step towards integrating cryptocurrency technology within regulated financial services.

Discussing the challenges within the crypto exchange market, O’Leary points to the shift towards compliant platforms like the M2 exchange in Abu Dhabi. He also stresses the importance of regulatory compliance and cites the Canadian DeFi exchange as a model.

When it comes to his personal investment strategy, O’Leary considers Bitcoin as “digital gold” and allocates a 5% weighting to it alongside a similar weighting to gold. He also diversifies his portfolio with other technologies like H-bar, Solana, and Polygon, making up around 11% of his total investments.

This article was reviewed and published by Benzinga editors and partially produced with the help of AI tools. Benzinga does not provide investment advice. All rights reserved.