Carlson Group Picks Four Bitcoin ETFs Out of Ten

Financial consulting giant Carlson Group, overseeing assets worth $30 billion, has advised its registered investment consultants on bitcoin funds from companies like BlackRock, Fidelity, Bitwise, and Franklin Templeton, as reported by Bloomberg.

During the selection process, Carlson Group considered criteria such as asset growth, trading volume, and fee size. BlackRock's iShares Bitcoin Trust (IBIT) has seen a total investment of $6.6 billion, while Fidelity attracted $4.8 billion to its Wise Origin fund (FBTC). Both Bitwise Bitcoin ETF (BITB) and Franklin Bitcoin ETF (EZBC) boast the lowest fees among issuers, charging 0.2% and 0.19%, respectively.

Grant Engelbart, Vice President at Carlson Group, commented on the choices, stating that Bitwise and Franklin Templeton have committed to being the lowest-cost providers in the industry, demonstrating significant fund inflows and trading volumes. These companies have also established their own digital asset research groups, bringing valuable expertise for further product management, research, and consultant training.

Financial consulting firms play a crucial role in introducing cryptocurrency products to new audiences. Carlson Group's competitor, LPL Financial Holdings, is also exploring recently approved bitcoin ETFs. Upon a positive decision, over 19,000 independent financial consultants overseeing assets worth $1.4 trillion would gain access to cryptocurrency funds. ETFs are already available to financial consultants at Fidelity and Charles Schwab.

According to Bloomberg analyst James Seyffart, the comprehensive vetting of ETFs by consulting firms is slowing down fund investments. Institutional investors, often reliant on these platforms, face limitations on purchasing unapproved assets.