In what appears to be another boon to the new spot Bitcoin ETF market, financial advisory platform Carson Group has approved four products, according to Bloomberg.
The report states that spot Bitcoin ETFs offered by BlackRock, Fidelity, Franklin Templeton, and Bitwise are the four ETFs approved by the Carson Group and will be made accessible to financial advisors and clients. According to the report, the Carson Group is a $30 billion registered investment advisor (RIA) platform.
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Spot Bitcoin ETFs from BlackRock and Fidelity were the most popular in terms of capital inflows. Franklin Templeton recently told The Block that endorsements like this one from the Carson Group are coming in a big way. However, data from The Block shows that the Carson Group failed to approve several spot Bitcoin ETF funds, including the Ark 21Shares Bitcoin ETF, which has over $1.5 billion in assets under management.
Products offered by Franklin Templeton and Bitwise, which have so far lagged behind top-performing ETFs, could get a boost thanks to the approval of the Carson Group. Total trading volume for spot Bitcoin ETFs exceeded $50 billion this week.
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About the author
RT Watson is a senior reporter at The Block, covering a variety of topics including US-based companies, blockchain games, NFTs, and more. He previously covered entertainment for The Wall Street Journal, writing about Disney, Netflix, Warner Bros. and the creator economy, focusing primarily on technological disruption across media. Previously, she covered corporate, economic and political news in Brazil at Bloomberg. She interviewed a variety of figures for RT, including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers, and convicted criminals. She holds a Master’s degree in Digital Sociology.