Kevin O’Leary Anticipates Strong Institutional Interest in Crypto Regardless of Spot Bitcoin ETF Outcome

Kevin O’Leary, popularly known as Mr. Wonderful from Shark Tank, believes that regardless of the decision made by the U.S. Securities and Exchange Commission (SEC) on spot bitcoin exchange-traded funds (ETFs), institutional interest in crypto and bitcoin will remain strong. O’Leary stated that even if the SEC decides not to approve a bitcoin ETF, it will not change the long-term potential of the industry. While O’Leary does not expect the SEC to approve a spot bitcoin ETF, he believes that institutional investor demand for crypto will continue to rise. He mentioned that institutional investors have been waiting for regulatory approval to allocate funds to the crypto asset class. O’Leary also highlighted that bitcoin has proven to be a liquid asset and a storage of wealth, further increasing its appeal to institutional investors. However, he expressed concerns about the compliance of certain exchanges with the SEC’s regulations, citing Coinbase as an example. O’Leary has previously criticized the value of most cryptocurrencies, predicting that many of them will eventually become worthless.