Carson Group, a registered investment advisory firm with $30 billion in assets, has made a significant move by offering its clients exposure to spot Bitcoin for the first time. The popularity of spot Bitcoin exchange-traded funds (ETFs) has been on the rise, even before approval from the SEC in January. These funds enable investors to access Bitcoin without directly owning the cryptocurrency.
Out of the 10 live ETFs in the US, Carson has selected four offerings, emphasizing their substantial asset holdings and cost-efficiency.
Carson Group’s Bitcoin Portfolio Addition
According to a disclosure from Bloomberg, the Omaha Nebraska-based investment firm has embraced Bitcoin by including four ETFs in its portfolio: 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, highlighted the firm’s strategy in selecting these ETFs, focusing on factors like asset growth and trading volume. IBIT and FBTC lead in daily inflows and trading volume, while BITB and EZBC stand out for their low fees.
Engelbart mentioned, “We feel it is important to offer these products from two major asset managers in the industry.”
Carson Group’s decision reflects a growing trend of traditional investors adopting Bitcoin, signaling mainstream acceptance. This move contrasts with other firms like Vanguard, which have refrained from providing Bitcoin-related products to their clients. Spot Bitcoin ETFs have shown significant trading volumes and asset growth, reaching $50 billion in cumulative trading volume last week.
As of now, IBIT holds over $6.64 billion in assets, FBTC stands at $4.73 billion, BITB at $1.1 billion, and EZBC has approximately $100 million in assets.
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