says he will never buy a spot bitcoin exchange-traded fund (ETF) as he is holding bitcoin for the long term as digital gold.I completely agree with him on this point because the ETF is not a real Bitcoin and therefore does not have real value like Bitcoin and cannot serve as a long-term store of value.
he advised, noting that the 11 spot bitcoin ETFs have fees ranging from around 0.21% to 1.5%. O’Leary opined:Yes, it is true, why pay all these excessive fees when you can acquire real Bitcoin without all these fees, and this point may not be noticed by many investors.
If you are a purist and you’re just holding bitcoin for the long term as a digital gold, as I am, I will never buy an ETF. Why would I pay these fees? It’s completely unnecessary. They add no value to me.
Regarding the approved 11 spot bitcoin ETFs, O’Leary stressed: “Not a chance they all survive.” He advised investors to watch their assets under management (AUM). Mr. Wonderful continued:I think this is true because the competition will be very intense between these funds and strong companies that have huge financing and huge sales forces will not succeed in surviving, as mentioned.
Maybe two or three will win. I’d bet that behemoths like Fidelity and Blackrock end up on top because they have massive sales forces.