This $30 Billion Investment Powerhouse Expands Client Portfolios with Bitcoin Exposure

Carson Group, a registered investment advisory firm managing assets totaling $30 billion, has recently announced a strategic decision to integrate exposure to spot Bitcoin into its portfolio offerings, marking its initial foray into facilitating investments in this digital asset. The emergence of spot Bitcoin exchange-traded funds (ETFs), which have garnered substantial attention even prior to regulatory approval from the Securities and Exchange Commission (SEC) in January, underscores this move. These ETFs present investors with a means to access Bitcoin’s market without direct ownership of the cryptocurrency.

Among the array of ETF options available in the United States, Carson Group has opted for four distinct offerings, focusing notably on their substantial asset base and cost-efficiency. Bloomberg disclosures reveal Carson Group’s embrace of Bitcoin as a significant milestone, aligning the firm with a growing cohort of traditional investment entities embracing this digital asset. The selected ETFs include the BlackRock iShares Bitcoin Trust (IBIT), Fidelity Wise Origin Bitcoin Fund (FBTC), Bitwise Bitcoin ETF (BITB), and Franklin Bitcoin ETF (EZBC).

Grant Engelbart, Vice President and Investment Strategist at Carson Group, elucidated the rationale behind the firm’s selection process, citing the prioritization of assets under management and trading volume. IBIT and FBTC were favored for their demonstrated prowess in these domains, boasting leading positions in daily inflows and trading activity.

Engelbart emphasized the significance of offering products from major asset management entities, citing this as a driving factor in Carson Group’s decision-making process. Additionally, the firm’s considerations extended to cost-effective features, resulting in the inclusion of Bitwise Bitcoin ETF and Franklin Bitcoin ETF despite their comparatively lower inflows. Both BITB and EZBC are characterized by competitive fee structures, charging 0.2% and 0.19% respectively, representing the lowest fees within the industry.

Carson Group’s integration of Bitcoin ETFs underscores a broader trend of mainstream adoption among traditional investors, further solidifying Bitcoin’s position within investment portfolios. This development contrasts with the stance taken by certain investment firms, such as Vanguard, which have opted against offering Bitcoin ETFs or similar cryptocurrency-related products to their clientele.

Meanwhile, spot Bitcoin ETFs continue to witness substantial trading activity and asset growth, with cumulative trading volume reaching $50 billion and net inflows amounting to $232.3 million as of last week. Notable ETFs, such as IBIT, FBTC, and BITB, boast significant asset bases ranging from $1.1 billion to over $6.64 billion, further indicating heightened investor interest and confidence in Bitcoin as a viable investment avenue.