Carlson Group has reportedly added four of the 10 BTC exchange-traded funds (ETFs) to its offerings for registered investment advisers.
Bloomberg reported on February 23 that the $30 billion investment firm selected funds from BlackRock, Fidelity, Bitwise, and Franklin Templeton, emphasizing low fees, asset growth, and trading volume.
Since its inception on January 11, BlackRock’s iShares Bitcoin Trust (IBIT) has received a cumulative investment of $6.6 billion. In contrast, Fidelity’s Wise Origin Bitcoin Fund (FBTC) has received inflows of $4.8 billion. Franklin Bitcoin ETF (EZBC) and Bitwise Bitcoin ETF (BITB) charge the lowest fees among issuers, at 0.2% and 0.19%, respectively.
“Bitwise and Franklin Templeton have committed to being the lowest-cost providers in the space, and have also seen large inflows and trading volumes. Both firms also have established in-house digital asset research teams and expertise that we feel are beneficial to the continuing growth and management of the products, as well as advisor research and education,” said Bloomberg investment strategist and vice president Grant Engelbart.
Platforms utilized by financial advisers are an essential entry point for introducing crypto products to new audiences. The newly authorized Bitcoin ETFs are under scrutiny by major investment firms, including LPL Financial Holdings.
Upon receiving approval, more than 19,000 independent financial advisers who supervise assets worth $1.4 trillion will have access to the funds. Fidelity and Charles Schwab financial advisers already have access to the ETFs.
James Seyffart, an analyst for Bloomberg ETFs, opined that the due diligence of investment platforms could impede the adoption of Bitcoin funds. “Many of the largest institutions, warehouses, and platforms where advisors and brokers operate are not free to purchase whatever they please.” “Akin to an approved list and an unapproved list,” explained the analyst.
