The Carson Group, a large $30 billion registered investment advisory (RIA) platform, recently announced that it has agreed to offer four bitcoin spot exchange-traded funds (ETFs) to its clients, according to a Bloomberg report. Among the latest batch of U.S. Bitcoin ETFs, Carson Group owns BlackRock's iShares Bitcoin Trust, Fidelity Wise Origin Bitcoin Fund, Bitwise Bitcoin ETF, and Franklin Bitcoin ETF.
Just in – Carson Group, the $30 billion RIA platform, has agreed to provide these four points #Bitcoin ETFs for its clients:
– Black stone
-Franklin
– Bitwise
– devotion— Bitcoin Magazine (@BitcoinMagazine) February 23, 2024
Grant Engelbart, Carson Group vice president and investment strategist, highlighted the selection criteria, emphasizing the “significant asset growth” and trading volume of BlackRock and Fidelity ETFs. “We feel it is important to offer these products as a result of two of the largest asset managers in the industry,” Engelbart said.
In addition, Carson Group has prioritized the cost-effectiveness of the offerings, recognizing the appeal of the $1.2 billion Bitwise Bitcoin ETF and the $100 million Franklin Bitcoin ETF, which have relatively low fees.
“Bitwise and Franklin Templeton have committed to being the lowest-cost providers in the space, and have also seen significant inflows and trading volumes,” Engelbart continued. “Both companies have also created internal digital asset research teams and expertise that we feel will be beneficial for continued growth and product management, as well as advisory research and education.”
Access to platforms that meet the needs of financial advisors and their retail clients is pivotal for Bitcoin ETF issuers aiming to tap into new markets. The endorsement of platforms like Carson Group could serve as a catalyst for the fund's growth, given the enormous wealth managed by financial advisors. As Carson Group moves forward with offering bitcoin ETFs to its clients, it is positioning itself as a forward-thinking player in the financial advisory space, in contrast to the $7 trillion investment manager Vanguard, which has blocked its clients from being able to purchase ETFs approved by the… Securities and exchanges.
