Key Points
Carson Group, a registered investment advisory firm managing $30 billion, has announced plans to give its clients access to Bitcoin through spot exchange-traded funds (ETFs). Spot Bitcoin ETFs have gained popularity, even before receiving SEC approval in January, as they allow investors to gain exposure to Bitcoin without owning the cryptocurrency directly.
Carson has chosen to invest in four of the 10 live ETFs in the US. The firm’s decision was based on the significant asset holdings and cost-efficiency of these ETFs.
Carson Group’s Bitcoin ETF Selection
The Omaha Nebraska-based investment firm is now part of the group of traditional investment firms bringing Bitcoin into the mainstream, as reported by Bloomberg. Carson Group’s chosen ETFs are the BlackRock iShares Bitcoin Trust (IBIT), Fidelity Wise Origin Bitcoin Fund (FBTC), Bitwise Bitcoin ETF (BITB), and Franklin Bitcoin ETF (EZBC).
Grant Engelbart, Vice President and Investment Strategist at Carson Group, explained the firm’s approach to selecting these four ETFs. The IBIT and FBTC were chosen because the firm prioritized “significant asset growth” and trading volume. Notably, these two ETFs are currently leading the market in daily inflows and trading volume.
Engelbart stated, “We feel it is important to offer these products as a result from two of the largest asset managers in the industry.”
The firm also considered cost-effectiveness in its selection, leading to the inclusion of Bitwise Bitcoin ETF and Franklin Bitcoin ETF, despite lower inflows. These ETFs charge competitive fees of 0.2% and 0.19%, the lowest in the industry.
Engelbart noted, “Bitwise and Franklin Templeton have committed to being the lowest-cost providers in the space, and have also seen large inflows and trading volumes.”
Carson’s investment in Bitcoin ETFs indicates the growing interest among traditional investors, further mainstreaming Bitcoin. This comes despite some investment firms, like Vanguard, refusing to offer Bitcoin ETFs or other cryptocurrency-related products to their clients.
Spot Bitcoin ETFs continue to see high trading volumes and rapid growth in assets under management. Last week, spot Bitcoin ETF cumulative trading volume reached $50 billion, ending Friday with a net inflow of $232.3 million.
At the time of writing, the BlackRock iShares Bitcoin Trust (IBIT) has over $6.64 billion in assets, the Fidelity Wise Origin Bitcoin Fund (FBTC) has $4.73 billion, the Bitwise Bitcoin ETF (BITB) has $1.1 billion, and the Franklin Bitcoin ETF (EZBC) has $100 million.
