Carson Group, a major $30 billion registered investment advisory (RIA) platform, recently announced its approval to offer four bitcoin exchange-traded funds (ETFs) to its clients, according to a bitcoin-etfs-for-retail-buyers”>Bloomberg Report. Of the recent batch of US-listed spot bitcoin ETFs, Carson Group has given the green light to BlackRock's iShares bitcoin Trust, Fidelity Wise Origin bitcoin Fund, Bitwise bitcoin ETF, and Franklin bitcoin ETF.
JUST IN – $30B RIA Platform Carson Group Approved to Offer These Four Venues bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin ETF to its clients:
– Black Rock
-Franklin
– Bit by bit
– Fidelity– bitcoin Magazine (@BitcoinMagazine) February 23, 2024
Grant Engelbart, vice president and investment strategist at Carson Group, highlighted the selection criteria, emphasizing the “significant asset growth” and trading volume of the BlackRock and Fidelity ETFs. “We believe it is important to offer these products thanks to two of the largest asset managers in the sector,” said Engelbart.
Additionally, Carson Group has prioritized the profitability of the offerings, recognizing the appeal of the $1.2 billion Bitwise bitcoin ETF and the $100 million Franklin bitcoin ETF, which feature relatively low fees.
“Bitwise and Franklin Templeton have committed to being the lowest-cost providers in the space and have also seen strong inflows and trading volumes,” Engelbart continued. “Both companies have also established internal digital asset research teams and expertise that we believe are beneficial to the continued growth and management of the products, as well as advisor research and education.”
Access to platforms that serve financial advisors and their retail clients is critical for spot bitcoin ETF issuers looking to access new markets. The approval of platforms like Carson Group can serve as a catalyst for fund growth, given the enormous wealth managed by financial advisors. As Carson Group moves forward in offering these bitcoin ETFs to its clients, it is positioning itself as a forward-thinking player in the financial advisory space, unlike $7 trillion investment manager Vanguard, which prevented their clients could purchase ETFs approved by the SEC.
