$30 Billion RIA Platform Carson Group Approved To Offer Spot Bitcoin ETFs To Their Clients

Key Points:

• RIA platform Carson Group, managing $30 billion, approved four Bitcoin ETFs, prioritizing those from BlackRock and Fidelity for their growth and volume.
• Cost-effectiveness guided their selection, favoring Bitwise and Franklin Templeton’s lower fees.

According to Bloomberg, RIA platform Carson Group, a registered investment advisory platform based in Omaha, Nebraska, managing $30 billion, has greenlit four spot Bitcoin ETFs for its clients.

Read more: Bitcoin Spot ETF and Futures ETF: Differences To Make The Right Investment Choice

RIA Platform Carson Group Greenlights Bitcoin ETFs for Clientele

Among these are BlackRock’s iShares Bitcoin Trust (IBIT) with assets totaling $6.6 billion and Fidelity Wise Origin Bitcoin Fund (FBTC) with $4.8 billion. These two ETFs were chosen due to their substantial asset growth and trading volume, according to Grant Engelbart, Carson Group’s vice president and investment strategist.

In addition to prioritizing asset growth and trading volume, the RIA platform Carson Group emphasized cost-effectiveness in its selection process. The Bitwise Bitcoin ETF, managing $1.2 billion, and the Franklin Bitcoin ETF, holding $100 million, boast relatively low fees of 0.2% and 0.19%, respectively.

Engelbart highlighted the importance of offering products from leading asset managers like BlackRock and Fidelity, while also acknowledging the appeal of Bitwise and Franklin Templeton’s commitment to low fees and established digital asset research capabilities.

Platform Approvals Signal Growing Interest in Bitcoin

Platform approvals, such as those from Carson Group, play a crucial role in driving asset growth for Bitcoin ETFs, particularly among financial advisors managing substantial wealth.

While some platforms like Fidelity and Charles Schwab already offer Bitcoin trading, others like Vanguard have yet to follow suit. This is significant as over half of US wealth resides on platforms where advisors can only utilize approved products.

Carson Group’s decision to offer these Bitcoin ETFs underscores its forward-thinking approach within the financial advisory space. As it moves forward with these offerings, it positions itself as a key player facilitating access to digital assets for its clients.