Omaha-based investment firm, Carson Group, is making significant strides in the cryptocurrency market by offering its clientele exposure to Bitcoin (BTC) exchange-traded funds (ETFs). As reported by Bloomberg, the firm has added four top contenders to its investment roster, including BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund.
Grant Engelbart, Carson Group’s Vice President and Investment Strategist, emphasized the selection criteria, citing robust assets and substantial trading volumes as pivotal factors in choosing BlackRock and Fidelity’s offerings. With assets totaling $6.6 billion and $4.8 billion respectively, these ETFs have recently witnessed substantial investor inflows, with BlackRock’s iShares Bitcoin Trust attracting $1.6 billion in inflows last week alone.
Carson Group green-lights just 4 bitcoin ETFs. RIA prioritized 'significant asset growth' and trading volume in selecting two of the ETFs, while the other two are among the least expensive offerings, executive says https://t.co/Ir8UagDYAt #InvestmentNews @CarsonGroupLLC pic.twitter.com/NXz1cbps2i
— InvestmentNews (@investmentnews) February 23, 2024
Engelbart also underscored the importance of cost-efficiency, spotlighting the Bitwise Bitcoin ETF and Franklin Bitcoin ETF for their competitive fees and sizable asset bases. Moreover, Carson Group places significant value on in-house digital asset research, an area where Bitwise and Franklin Templeton have demonstrated proactive initiatives.
Carson Group’s foray into Bitcoin ETFs mirrors similar moves by industry giants like Fidelity and Charles Schwab, aligning with the modern trend of investment diversification. Despite some holdouts such as Vanguard, Carson Group’s entry into the market is expected to catalyze the presence of underperforming ETFs, particularly those offered by Franklin Templeton and Bitwise.
With Bitcoin ETF trade volumes surpassing $50 billion, industry analysts anticipate Carson Group’s involvement to further bolster market activity, potentially reshaping the landscape of cryptocurrency investment strategies.
