Carlson Group, a registered investment advisory firm in the US, green-lit four Bitcoin exchange-traded funds in a move that could heavily benefit the crypto ETFs.
Franklin Templeton, BlackRock, Fidelity, and Bitwise found their Bitcoin exchange-traded funds (ETFs) going through a positive development recently. A financial services firm, Carlson Group, approved the four crypto ETFs for their registered investment advisors (RIAs). A range of positive features, like low fees and asset growth, could have helped with the approvals.
Meanwhile, the approvals could lead to big inflows into the crypto ETFs, which have already seen billions of inflows this year. BlackRock’s ETFs led the surging inflows, while those of Fidelity and others followed suit. The development was reported in major economic daily.
An official from the Carlson Group, Grant Engelbart, attributed the low fees of Bitwise and Franklin Templeton’s crypto ETFs. He further stated, “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 adviser research and education.”
The action by the Carlson Group is a significant step ahead for the crypto community. Financial advisor platforms like the Carlson Group could majorly influence independent financial advisors who oversee trillions of funds. It could be a positive change for investors looking to diversify into crypto through RIAs.
BlackRock’s spot Bitcoin ETF has attracted over $6 billion in inflows. With the crypto market recently surging, BTC also breached $50,000 after over two years. The crypto ETFs could likely continue to impact the rising popularity of crypto trading this year. Besides the ETFs, macroeconomic factors like global interest rates and the Bitcoin halving event could also be major drivers.
At the same time, new crypto regulatory changes and use cases like stablecoins and CBDCs would trend in the crypto space.
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