Kevin O’Leary, a prominent investor and TV personality, expressed that there won’t be a Bitcoin exchange-traded fund (ETF) until there is an exchange that complies with the Securities and Exchange Commission (SEC). He anticipates that it could take more than a year and a half for a spot Bitcoin ETF to be established. O’Leary believes that when the approval for a Bitcoin ETF does come, there will be high demand for Bitcoin. He highlighted the need for institutional compliance with the SEC and the challenges posed by 24/7 trading. O’Leary also noted that Bitcoin is seen as a liquid asset and a storage of wealth by most people, and that institutions generally limit their exposure to any one asset class to 5%. The logistics of rebalancing portfolios with Bitcoin holdings due to the market never closing still need to be resolved.
AI Sentiment: Neutral