- Carlson Group has selected 4 Bitcoin ETFs from BlackRock, Fidelity, Bitwise, and Franklin Templeton for its registered investment adviser offerings, prioritizing trading volume, asset growth, and low fees.
- Large advisory platforms like LPL Financial are reviewing the new Bitcoin ETFs for potential inclusion, which would provide exposure to crypto for over 19,000 advisers and $14 trillion in assets, but diligence processes may delay adoption.
- The new regulated Bitcoin ETFs represent a major milestone for integrating digital assets into traditional finance, though procedural hurdles may slow their rollout to mainstream investors.
According to the latest report from Bloomberg, the $30 billion advisory firm has selected four Bitcoin exchange-traded funds (ETFs) for its offerings to registered investment advisers (RIAs).
Firm prioritizes trading volume, asset growth and low fees
Carlson Group picked funds from BlackRock, Fidelity, Bitwise, and Franklin Templeton based on criteria like asset growth, trading volume, and low fees.
BlackRock’s iShares Bitcoin Trust (IBIT) has seen $66 billion in inflows since debuting in January. Fidelity’s Wise Origin Bitcoin Fund (FBTC) has attracted $48 billion.
Bitwise and Franklin Templeton’s funds have the lowest fees at 0.2% and 0.19% respectively. Bitwise and Franklin Templeton have also committed to being the lowest-cost providers and have established in-house digital asset research teams.
Financial adviser platforms crucial for mainstream adoption
Large trading firms like LPL Financial are reviewing the new Bitcoin ETFs for potential inclusion on their platforms. This would open up exposure to crypto assets for the over 19,000 independent financial advisers and $14 trillion in assets on these platforms.
However, due diligence processes at these firms may delay adoption of the funds. The ETFs are already available to advisers at firms like Fidelity and Charles Schwab. The addition of Bitcoin ETFs to major financial advisory platforms promises to significantly expand mainstream access and adoption of crypto assets. However, procedural hurdles may slow the rollout. Overall, the new regulated Bitcoin funds represent a milestone for integration between traditional finance and digital assets.
