Kevin O’Leary: SEC Will Approve Spot Bitcoin ETFs in 18 Months
According to experts, it is widely believed within the cryptocurrency market that spot Bitcoin ETFs could potentially launch in the United States in late December or early January.
Galaxy Digital CEO Mike Novogratz, for example, has recently expressed optimism that the Securities and Exchange Commission (SEC) will approve the new instrument for entry into the US stock market by the end of 2023. However, there is some skepticism surrounding this timeline.
TV host Kevin O’Leary believes that it will take around 18 months for the SEC to legalize funds investing in Bitcoin and Ethereum.
This is due to the additional time the SEC will need to assess the risks involved and create a monitoring system for investor activity. Additionally, a regulated cryptocurrency exchange will need to establish itself in the US before investors can access Bitcoin ETFs.
One possibility for such a platform is Coinbase, which went public in 2021. O’Leary acknowledges the growing interest of institutional investors in BTC and notes that financial companies are increasingly willing to allocate part of their capital to Bitcoin.
However, he also points out that these companies are not as interested in other virtual currencies.
