Carson Group Adds 4 Spot Bitcoin ETFs to Platform
“Both firms also have established in-house digital asset research teams and expertise that we feel are beneficial to the continuing growth and management of the products, as well as advisor research and education,” he added.
Access to platforms that cater to financial advisors and their retail clients is of huge consequence to the firms behind the bitcoin ETFs, who are eager to tap into a new audience.
Some platforms, such as Fidelity and Charles Schwab, already have the funds available for RIAs to trade for their clients, while LPL Financial is taking a wait-and-see approach.
On the other end of the spectrum, Vanguard has no plans to allow the funds to be traded through its brokerage.
Platform approvals can be a “huge catalyst” for fund growth, given that financial advisors oversee trillions of dollars, according to Bitwise’s Hunter Horsley.
“Over half of U.S. wealth is part of a platform and can only use a product once it’s approved,” said Horsley, chief executive of Bitwise. “We frequently hear ‘I want access to bitcoin but our platform hasn’t approved anything yet.’ The platforms are busy but now that there are ETFs and a few over a billion AUM, they’re doing the work.”
(Shown in photo: Ron Carson, founder and CEO of Carson Group)
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