I will create two different wallets, one for Bitcoin, and one for Ethereum or any token.

With Ethereum, interaction through smart contracts is risky and I can not be sure that interact with them will not let my money stolen. What if I will lose not only tokens, ETH and also Bitcoin?

Use one wallet for all is convenient but the point here is simple and vital, creating one more wallet is not like a burden in our life so don't let convenience to bring more risk on our money.