Source: Blockchain Knight
Carson Group, a registered investment advisory firm with a market capitalization of US$30 billion, recently announced that it will provide customers with BTC spot trading for the first time.
The spot BTC ETF was already popular even before it was approved by the SEC (U.S. Securities and Exchange Commission) in January this year. These funds allow investors to gain exposure to BTC without actually owning BTC.
Among the 10 ETFs currently listed in the United States, Carson Group has selected four of the products, paying special attention to the considerable asset holdings and cost-effectiveness of these ETFs.
According to Bloomberg, this investment company has now joined the ranks of traditional investment companies in making BTC mainstream.
The four ETFs purchased by the company are BlackRock iShares BTC Trust Fund (IBIT), Fidelity Intelligence BTC Fund (FBTC), Bitwise BTC ETF (BITB) and Franklin BTC ETF (EZBC) .
Grant Engelbart, vice president and investment strategist at Carson Group, noted that the company used a clamp-on approach when selecting these four ETFs.
That is, the reason why IBIT and FBTC were selected is because the company gave priority to "significant asset growth" and "transaction volume" when making the selection. Not surprisingly, IBIT and FBTC currently lead the market in terms of daily inflows and trading volume.
Engelbart said: "We believe it is important for BlackRock and Fidelity, as the two largest asset managers in the industry, to offer these products."
Carson Group in Cost-effectiveness attributesare also taken into consideration when making the selection. Therefore, the company has also selected Bitwise BTC ETF and Franklin BTC ETF.
Although these two ETFs have seen much smaller inflows, the handling fees for BITB and EZBC are very competitive, at 0.2% and 0.19% respectively, the lowest in the industry.
Engelbart pointed out: Bitwise and Franklin are committed to becoming the lowest-cost provider in the BTC field, and there are also large capital inflows and transaction volumes.
Carson Group’s investment in the BTC ETF reflects the increasing adoption of BTC by traditional investors, moving BTC one step closer to mainstream adoption.
This comes at a time when other investment firms such as Vanguard have steadfastly refused to offer BTC ETFs or other Crypto asset-related products to their customers.
On the other hand, spot BTC ETFs continue to attract huge trading volumes and rapid growth in assets under management. The cumulative trading volume of the spot BTC ETF reached US$50 billion last week, with a net inflow of US$232.3 million at the end of Friday.
Currently, IBIT’s assets exceed US$6.64 billion, FBTC’s assets are US$4.73 billion, BITB’s assets are US$1.1 billion, and EZBC’s assets are less, only US$100 million.
Edmund
