Summary
Carson Group, a $30 billion RIA platform, has approved to offer four spot Bitcoin ETFs to its clients, including BlackRock, Fidelity, Bitwise, and Franklin. The selection criteria focused on asset growth and trading volume, as well as cost-effectiveness. Prioritizing access to financial advisors is crucial for ETF issuers, with Carson Group’s approval potentially driving fund growth. This move positions Carson Group as a forward-thinking player in the financial advisory space compared to Vanguard, who blocked clients from purchasing SEC-approved ETFs.
Key Points
1. Carson Group has approved four spot Bitcoin exchange-traded funds (ETFs) for its clients, including offerings from BlackRock, Fidelity, Bitwise, and Franklin.
2. Grant Engelbart, Carson Group’s vice president and investment strategist, emphasized the criteria for selection, focusing on the significant asset growth and trading volume of BlackRock and Fidelity’s ETFs, as well as the cost-effectiveness of offerings from Bitwise and Franklin.
3. Approval by platforms like Carson Group is crucial for spot Bitcoin ETF issuers looking to access new markets and tap into the vast wealth managed by financial advisors. Carson Group’s decision positions it as a forward-thinking player in the financial advisory space, contrasting with Vanguard, who blocked its clients from purchasing SEC approved ETFs.