Major financial advisory firm Carson Group has approved just four of the ten new US-listed spot Bitcoin exchange-traded funds (ETFs). The firm chose the BlackRock iShares Bitcoin Trust (IBIT) and Fidelity Wise Origin Bitcoin Fund (FBTC), which have seen the highest inflows at $6.6 billion and $4.8 billion, respectively. Â
According to a report, Carson cited the significant asset growth and trading volume as reasons for selecting these two ETFs. Additionally, the firm approved the lower-cost $1.2 billion Bitwise Bitcoin ETF and $100 million Franklin Bitcoin ETF, which charge fees of 0.2% and 0.19%, respectively.
According to Carson’s Vice President Grant Engelbart, having offerings from leading asset managers like BlackRock and Fidelity was an important factor. He also highlighted Bitwise and Franklin Templeton’s commitment to low fees and established digital asset research capabilities.
The platform approvals serve as key catalysts for Bitcoin ETF asset growth by enabling financial advisors overseeing trillions in wealth to make the funds available to clients.
While major platforms like Fidelity and Charles Schwab already offer trading, others like Vanguard have no plans to allow it. Over half of US wealth resides on platforms where advisors can only use approved products.
Also Read: Pyth Network Adds Price Feeds for 13 Bitcoin ETFs
