Carson Group, a $30 billion investment advisory firm, recently announced that it’s now offering its clients exposure to spot Bitcoin for the first time.
Spot Bitcoin ETFs Gaining Popularity
Spot Bitcoin exchange-traded funds (ETFs) have become very popular even before the SEC approved them in January. These funds allow investors to gain exposure to Bitcoin without actually owning the cryptocurrency.
Carson Group Selects Four ETFs
Out of the 10 ETFs that are now live in the US, Carson has chosen four ETF offerings. They focused on the substantial asset holdings and cost-efficiency of these ETFs.
Carson Group’s Pincer Approach
Carson Group’s vice president and investment strategist, Grant Engelbart, explained the company’s strategy for selecting the four ETFs. Engelbart said that the IBIT and FBTC were chosen because the company prioritized “significant asset growth” and trading volume.
Carson also considered cost-effectiveness when making its selection. As a result, the company also chose the Bitwise Bitcoin ETF and Franklin Bitcoin ETF, despite both ETFs seeing much less inflow.
Growing Adoption Among Traditional Investors
Carson’s investment in Bitcoin ETFs signals the growing adoption of Bitcoin among traditional investors. This is in contrast to other investment firms like Vanguard, which have taken a firm stand against providing their clients with Bitcoin ETFs or other cryptocurrency-related products.
Spot Bitcoin ETFs Continue to Attract Trading Volumes
Spot Bitcoin ETFs have continued to attract huge trading volumes and rapid growth in assets under management. Spot Bitcoin ETF cumulative trading volume reached $50 billion last week, ending Friday with $232.3 million of net inflow.
Conclusion
Carson Group’s investment in Bitcoin ETFs is a significant step in the mainstream adoption of Bitcoin. It shows that traditional investors are increasingly interested in gaining exposure to this digital asset.
