Fun

Mark Cuban Won’t Invest in Bitcoin ETF, Prefers to Buy BTC Directly

News Feed - 2021-10-17 09:10:23

Mark Cuban Won"t Invest in Bitcoin ETF, Prefers to Buy BTC Directly


The owner of the NBA team Dallas Mavericks, Mark Cuban, has said “no” to investing in bitcoin-based exchange-traded funds (ETFs), one of which could start trading next week in the U.S. The Shark Tank star does not see a reason for him to invest in a bitcoin ETF, emphasizing that he can buy the cryptocurrency directly. Mark Cuban Says No to Bitcoin ETF


The Shark Tank star and owner of the NBA team Dallas Mavericks, Mark Cuban, has shared his thoughts on the heavily hyped bitcoin exchange-traded funds (ETFs). While the U.S. Securities and Exchange Commission (SEC) has yet to approve a bitcoin ETF, the first bitcoin futures ETF could begin trading in the country as early as next week.


However, Cuban is not planning to invest in a bitcoin ETF or a bitcoin futures ETF when one starts trading on an American exchange. Responding to a question in an interview with CNBC, published Friday, whether he plans to invest in any bitcoin-based ETF, the shark tank star bluntly replied: No. I can buy BTC directly.


Cuban has been in the crypto space for quite some time. He previously called bitcoin “better gold than gold” due to its algorithmic scarcity, seeing the cryptocurrency as a store of value rather than a currency. He said in April: That’s why I own bitcoin and why I never sold it.


The owner of the Dallas Mavericks also previously revealed that he had invested in ether (ETH), dogecoin (DOGE), non-fungible tokens (NFTs), and a number of blockchain companies. He and Tesla CEO Elon Musk see dogecoin as the “strongest” cryptocurrency for payments.


As for cryptocurrency regulation, Cuban believes that the rules are unclear and has publicly criticized the SEC for taking an enforcement-centric approach to regulating the crypto industry. “The problem isn’t that people are looking for grey areas, it’s that there rarely are defined rules. Regulation through litigation traps all the people who can’t afford a lawyer, accountant, or advisor,” he opined.


While futures-based bitcoin ETFs provide investors with some exposure to the crypto market without actually owning any coins, Todd Rosenbluth, director of ETF and mutual fund research at CFRA, explained: The ETF price will not match the price of bitcoin. As such, it is likely better for short-term exposure than for buy and hold long-term investing.


What do you think about Mark Cuban’s comments? Let us know in the comments section below. G7 Finance Ministers and Bankers Adopt Guidelines for Central Bank Digital Currencies FINANCE | 2 days ago Swiss Bank Seba Now Lets Customers Earn Yield on Crypto Holdings FINANCE | 3 days ago Tags in this story bitcoin etf, bitcoin exchange traded fund, Dallas Mavericks, Mark Cuban, mark cuban bitcoin, mark cuban bitcoin etf, Shark Tank


Image Credits: Shutterstock, Pixabay, Wiki Commons Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments

News Feed

Kosovo receives guidance from Council of Europe on crypto crime tracing
Savannah Fortis10 hours agoKosovo receives guidance from Council of Europe on crypto crime tracingKosovo’s Financial Intelligence Unit partners with the Council of Europe to improve crypto crime tracing skills and stre
Brian Quarmby3 hours agoBTC hodlers outperformed crypto funds by 69% in H1: 21e6 CapitalAccording to 21e6 Capital AG, crypto funds generally outperformed the price gains of BTC in previous bull runs, but they ultimately
Brazilian Crypto Companies to Self-Regulate: Target a $100 Billion Market by Year-End
Brazilian Crypto Companies to Self-Regulate: Target a $100 Billion Market by Year-EndBrazilian crypto companies have signed a code of self-regulation that aims to legitimize and to
Tom Mitchelhill3 hours agoBritish MPs call on government to scrap AI exemptions that hurt artistsA bipartisan committee of British MPs says that Rishi Sunak’s government must prioritize the rights of musicians and crea
Oaktree Capital Chairman Warms up to Crypto — Thankful His Son Owns Enough Bitcoin for the Family
Oaktree Capital Chairman Warms up to Crypto — Thankful His Son Owns Enough Bitcoin for the Family Oaktree Capital co-founder Howard Marks is warming up to cryp
Ava Labs Partners With Amazon Web Services to Accelerate Blockchain Adoption, AVAX Jumps 16%
Ava Labs Partners With Amazon Web Services to Accelerate Blockchain Adoption, AVAX Jumps 16% Ava Labs, the team behind the layer one (L1) smart contract platform network Avalanche,
$100 in Free Bitcoin: NBA Team Dallas Mavericks and Voyager Kick Off Partnership With BTC Bonus
$100 in Free Bitcoin: NBA Team Dallas Mavericks and Voyager Kick Off Partnership With BTC Bonus The NBA team Dallas Mavericks has partnered with crypto platform Voyager and is offe
Morgan Stanley Massively Increases Bitcoin Exposure Through Microstrategy
Morgan Stanley Massively Increases Bitcoin Exposure Through Microstrategy Global investment bank Morgan Stanley has increased its bitcoin exposure manyfold by in
Research Proves Recent Transfers of 8,000 Ten-Year-Old ‘Forgotten Bitcoins’ Were Sold to Coinbase
Research Proves Recent Transfers of 8,000 Ten-Year-Old "Forgotten Bitcoins" Were Sold to Coinbase For months now our newsdesk has followed the tracks of a myster
Infinite Arcade Launches the Last Sale of the Gamer NFTs
Infinite Arcade Launches the Last Sale of the Gamer NFTs sponsored Web3 platform Infinite Arcade launches batch 3 Gamer NFTs sale. The Gamer (avatar) NFTs act as access keys to unlo
The Blockchain-Based Webtoon Platform “TooNFT” Launches on Toomics’ Ecosystem
The Blockchain-Based Webtoon Platform “TooNFT” Launches on Toomics’ Ecosystem press release PRESS RELEASE. Tortola, BVI, 10 Jan 2022: Anyone who has been paying attention to t
Buy The Dip? Bitcoin’s $80K Drop Just A Pit Stop Before $150K—Analyst
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu