EXCLUSIVE: Kevin O'Leary Says There's No Reason To Get Excited About Bitcoin ETF Without Regulatory Clarity
Portfolio Pulse from Adam Eckert
Kevin O'Leary, Chairman of O'Shares ETFs, emphasized the need for regulatory clarity before getting excited about a Bitcoin ETF. He stated that institutions are ready to buy Bitcoin but are waiting for a compliant exchange, suggesting Coinbase Global Inc (COIN) as a leading candidate. O'Leary believes a spot Bitcoin ETF is over a year away due to SEC Chair Gary Gensler's stance. He also highlighted the challenges of 24/7 trading for institutional rebalancing. Bitcoin's price was down slightly at the time of the article.
November 13, 2023 | 3:54 pm
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NEUTRAL IMPACT
Kevin O'Leary mentioned Coinbase Global Inc (COIN) as a potential compliant exchange for a Bitcoin ETF, but noted it's currently in litigation and regulatory clarity is needed.
While COIN is seen as a leading candidate for compliance, the current litigation and lack of regulatory clarity make the short-term impact neutral. However, being mentioned positively by O'Leary could be seen as a moderate endorsement, hence the relevance and importance scores.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70