This discerning consulting firm is only interested in four Bitcoin ETFs! BlackRock and Fidelity are among them.

Zhitong App has learned that investment consulting firms' massive assets are considered the "Holy Grail" in the eyes of fund issuers. However, these consulting firms are often very selective when it comes to choosing newly launched Bitcoin spot ETFs, mainly due to concerns that the high risk and volatility of Bitcoin ETFs may deter their clients. It is understood that Carson Group, a registered investment advisory (RIA) firm based in Omaha, Nebraska, has only approved 4 out of the 10 newly issued Bitcoin spot ETFs.

Carson Group's asset management platform has a total fund size of up to $30 billion. The approved Bitcoin ETFs include the iShares Bitcoin Trust (IBIT.US) issued by BlackRock with a current size of about $6.6 billion, and the Fidelity Wise Origin Bitcoin Fund (FBTC.US) under Fidelity with a size of about $4.8 billion. These two Bitcoin ETF products are currently the largest in size, attracting a large number of investors to invest in them. The other two approved Bitcoin ETFs include smaller-scale products under Bitwise and Franklin Templeton, both of which are custodied by Coinbase, the largest cryptocurrency exchange in the United States.

Grant Engelbart, Vice President and Investment Strategist of Carson Group, stated that when selecting Bitcoin ETFs, Carson Group's experts prioritize "significant asset growth" and historical trading volume, followed by fee standards. It is known that compared to BlackRock and Fidelity, Bitwise and Franklin Templeton's scale seems relatively small, but their fees are at the lowest level. The Bitwise Bitcoin ETF (BITB.US) with a size of $1.2 billion and the Franklin Bitcoin ETF (EZBC.US) with a size of $100 million have fee standards of 0.2% and 0.19%, respectively, making them the most cost-effective products in the Bitcoin ETF issuance field.

Engelbart commented on the Bitcoin ETFs under BlackRock and Fidelity, stating, "We believe that as the two largest asset management companies in the industry, offering these products is crucial." Regarding Bitwise and Franklin Templeton, he mentioned, "Bitwise and Franklin Templeton have always been committed to being the lowest-cost providers in this field, and have also seen a significant influx of funds and trading volume. Both companies have established internal digital asset research teams and professional knowledge teams, which we believe are conducive to the continuous growth and management of the products, as well as investment advisor research and related educational work." BlackRock and Fidelity ETFs Lead the Way in Spot Bitcoin ETF Size

For the issuing institutions behind Bitcoin ETFs, it is crucial to enter the Registered Investment Advisor (RIA) and platforms covering their retail clients, as these issuers are eager to continuously reach new audiences. Some large institutions like Fidelity and Charles Schwab have provided relevant funds prepared for client trading, while LPL Financial has taken a wait-and-see approach. On the other hand, Vanguard Group has no plans to allow these high-risk funds to be traded through its brokerage.

Hunter Horsley, CEO of Bitwise, stated that given that investment advisory firms manage trillions of dollars in funds, "platform approval" through these institutions could be a "huge catalyst" for fund size growth.