In likely another boon for the new spot bitcoin ETF market, the financial advisor platform Carson Group has approved four of the instruments, according to Bloomberg.
Spot bitcoin ETFs offered by BlackRock, Fidelity, Franklin Templeton and Bitwise are the four Carson Group approved and that will become accessible to financial advisors and their clients, the report said. Carson Group is a $30 billion registered investment advisor, or RIA, platform, also according to the report.
“Access to platforms that cater to financial advisors and their retail clients is of huge consequence to the firms behind the Bitcoin 
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ETFs, who are eager to tap into a new audience,” said Bloomberg.
BlackRock and Fidelity’s spot bitcoin ETFs have been the most popular in terms of capital inflows. Franklin Templeton recently told The Block that approvals like this one from Carson Group were coming down the pike. However, 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, according to data from The Block.
The products offered by Franklin Templeton and Bitwise, which have trailed far behind the top-performing ETFs thus far, could receive a boost thanks to Carson Group’s approval. Total trading volume for spot bitcoin ETFs exceeded $50 billion this week.
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About Author
RT Watson is a senior reporter at The Block who covers a wide array of topics including U.S.-based companies, blockchain gaming and NFTs. Formerly covered entertainment at The Wall Street Journal, where he wrote about Disney, Netflix, Warner Bros. and the creator economy while focusing primarily on technological disruption across media. Previous to that he covered corporate, economic and political news in Brazil while at Bloomberg. RT has interviewed a diverse cast of characters including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers and convicted criminals. Holds a master’s degree in Digital Sociology.