O'Leary: Bitcoin ETFs Offer No Edge Over Direct Ownership, But Show Crypto Maturing Beyond Cowboy Phase

• Kevin O'Leary sees no added value in Bitcoin ETFs compared to direct Bitcoin ownership due to fees • Views the Bitcoin ETF as a signal that the "crypto cowboy" era is ending and integration with regulated financial services is coming • Points to regulated crypto exchanges like M2 in Abu Dhabi as the future model • Invests 5% of his portfolio in Bitcoin as "digital gold" and 11% total in crypto including other assets • Emphasizes the growing need for regulatory compliance in the crypto exchange market after issues at Binance and FTX