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According to reports, the financial services firm Carlson Group has recently added four Bitcoin exchange-traded funds (ETFs) and their products for Registered Investment Advisors (RIAs). The $30 billion investment company prioritized asset growth, trading volume, and low fees when selecting funds from BlackRock, Fidelity, Bitwise, and Franklin Templeton.
Carlson Group is a globally recognized financial services company with a rich history, founded in 1938. As a diversified investment management group, Carlson Group's services span investment management, financial advisory services, and other financial services.
Since its launch on January 11, BlackRock's iShares Bitcoin Trust (IBIT) has attracted a total of $6.6 billion in investments, while Fidelity's Wise Origin Bitcoin Fund (FBTC) has also seen $4.8 billion in inflows. The management fees for Bitwise Bitcoin ETF (BITB) and Franklin Bitcoin ETF (EZBC) are the lowest among issuers, at 0.2% and 0.19%, respectively.
"Bitwise and Franklin Templeton are committed to being the lowest-cost providers in the industry, and their products have witnessed significant inflows of funds and high trading volumes. Both companies have also established their own digital asset research teams and knowledge bases, and we believe that these teams and expertise will contribute to the continued growth and management of their products, while also supporting advisor research and education," said Carlson Group's Vice President and Investment Strategist in an interview.
The financial advisor platform is an important channel for introducing crypto products to new users, and many large trading companies are currently considering recently approved Bitcoin ETFs. If these funds are approved, they will serve more than 19,000 independent financial advisors managing $1.4 trillion in assets. Financial advisors at Fidelity and JPMorgan Chase are now able to use these ETFs.
Bloomberg ETF analyst James Seyffart said that due diligence by trading platforms could delay the adoption of Bitcoin funds. "Many large institutions, including fund custodians, brokers, or advisory service platforms, cannot arbitrarily purchase any product. They usually have an approved product list and an unapproved product list," the analyst explained.
The influx of investments into Bitcoin funds indicates that Bitcoin and other cryptocurrencies are increasingly being accepted by mainstream financial markets. Launching low-cost Bitcoin exchange-traded funds (ETFs) may promote broader market participation and enhance market liquidity. These ETFs provide an innovative investment avenue, opening up new dimensions for portfolio diversification and driving the maturity and expansion of the crypto asset ecosystem. |
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Post time 8-3-2024 11:48:05