Recently on CNBC, Kevin O’Leary (Chairman of O’Shares) talks about the cryptocurrency market happening and the related regulations. He spoke with Melissa Lee about the situation on Fast Money Traders with; Tim Seymour, Karen Finerman, David Searburg, and Guy Adami.

According to Kevin, people are seeing ETFs as blunt instruments, but they aren’t. It doesn’t explain why there are so many people releasing ETFs on the market place, they’re not one simple asset class, but are still Lion’s share for many investments.

He goes on to speak about locating great indexers, who actively mange ETFs. That’s what truly intrigues him, his desire is to find great managers to handle the ETFs for the purpose of getting better taxes, more liquidity and an overall better investment.

It’s not about owning the stock, some of it is completely non-profitable and won’t even enter tax brackets. What’s the craziest thing about it, is that out of 2,000 of the indexed ETFs, only about 338 of them are actually profitable – that is where he is looking.

Basically, if you can solve a person’s problem with ETFs, using quality managers who run them efficiently, then that is the right thing to do.

There are a lot of things happening right now with big specialized ETFs like those that own Netflix, who has dropped in stock prices significantly.

It’s not the first time they’ve dropped however, so he points out it will change back shortly and people who trust the global process of ETFs know it is only a few days before data shows the truth about the situation.

They’ve missed a number like they have many times before, it’s not the time to make a decision on whether not to lose faith in many of these companies. It’s best to sit back and wait, of even to simply look at the companies on a global scale.

He is fairly bearish on Bitcoin, predicting instead that Ethereum will become the leader of blockchain technology. However, the market in cryptocurrency needs to be regulated better. One thing he points out is that Bitcoin’s ETF will likely revive the market.

At the end of the day, you need to know who is on board, who is going to be the real contenders and know who is staying around.

Bitcoin has been changing over the last 60 days but has become second to Ethereum in the eyes of many in the cryptocurrency industry. It’s not the hot story it used to be, instead pointing out to the success Ethereum has been seeing within the recent months.

Kevin still holds a good attitude about it all, just stating that he is unsure of it all, but highly interesting in his eyes as is all cryptocurrency.

What do you think about Kevin’s opinion? Has Ethereum become the new top dog of cryptocurrencies, even surpassing that of the grand daddy Bitcoin? Tell us in the comment section below.

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