Mark Cuban says he won’t invest in a potential bitcoin futures ETF: ‘I can buy directly’

Mark Cuban says he won’t invest in a potential bitcoin futures ETF: ‘I can buy directly’

The Securities and Exchange Commission is set to let the first U.S. bitcoin futures exchange-traded funds start trading next week, since the SEC isn't likely to block the ETFs proposed by ProShares and Invesco, on Friday. But billionaire Mark Cuban won't be investing. When asked whether he'd buy the ETFs once they were officially listed, the "Shark Tank" investor and Dallas Mavericks owner was blunt. "No," Cuban tells CNBC Make It. "I can buy BTC [bitcoin] directly." That makes sense for Cuban, who has bitcoin "better gold than gold," , since only a limited amount of it exists by design. Cuban sees more promise in bitcoin as a store of value, rather than a currency. "That's why I own bitcoin and why I never sold it," he said in April. Cuban also already has an , which includes digital coins such as bitcoin, ether, dogecoin and other altcoins; ; and many . However, supporters of the futures-based bitcoin ETF argue that it may offer perks over buying bitcoin directly. While a physical ETF holds the underlying assets or securities on which its value is based, a futures-based ETF tracks futures contracts, providing exposure to an asset without taking direct ownership.