Bitcoin ETFs: Carlson Group's Gateway To Crypto Investment

Financial services firm Carlson Group has reportedly added four of the 10 Bitcoin exchange-traded funds (ETFs) to its offerings for registered investment advisers (RIAs). The $30 billion investment company chose funds based on growth, trading volume, and low fees.

The firm selected ETFs from leading issuers BlackRock, Fidelity, Bitwise, and Franklin Templeton. Bloomberg reported this on Feb 23rd. BlackRock’s iShares Bitcoin Trust (IBIT) has seen $6.6 billion invested since debuting on Jan 11. Fidelity’s Wise Origin Bitcoin Fund (FBTC) has drawn $4.8 billion in inflows.

Bitwise Bitcoin ETF (BITB) and Franklin Bitcoin ETF (EZBC) offer the lowest expense ratios at 0.2% and 0.19%, respectively. “Bitwise and Franklin Templeton committed to having the lowest fees in the industry,” said Grant Engelbart, Carlson Group’s vice president. “They also have large trading volumes and experienced digital asset research teams. This expertise aids product growth and advisor education,” he stated.

Bitcoin ETFs Await Approval By Major Financial Advisors

Bitcoin ETF Flow – 24 Feb 2024

All data now in, except perhaps for the Galaxy/Invesco product

Friday was a strong day, with +$232.3m of net inflow. Also, the outflow for GBTC was just $44m, lowest level since 11th Jan pic.twitter.com/1Q0OtjEJLt
— BitMEX Research (@BitMEXResearch) February 24, 2024

Major financial advisor platforms provide crucial gateways for introducing crypto ETFs to mainstream investors. Large firms like LPL Financial Holdings now examine approved Bitcoin funds. If cleared, they would reach over 19,000 independent advisers managing $1.4 trillion in assets. The ETFs already trade on Fidelity, Charles Schwab, and other investment platforms.

However, further due diligence by brokerages may delay wider adoption, according to Bloomberg analyst James Seyffart. “Big brokerage firms can’t invest in any product. Offerings must be approved after research. So despite SEC clearance, onboarding Bitcoin ETFs takes time,” Seyffart explained.

As leading investment firms add BTC products, more widespread acceptance could emerge. However, institutional processes present an obstacle, according to industry observers. How quickly mega brokerages like LPL Financial expand crypto offerings may determine mainstream penetration.

Furthermore, the author’s views are for reference only and shall not constitute investment advice. Before purchasing, please ensure you fully understand and assess the products and associated risks.