Carson Group Vice President and Investment Strategist Grant Engelbart shed light on the growing interest among financial advisors for Bitcoin ETFs in a recent interview with Bloomberg ETF IQ. According to Engelbart, advisors allocate an average of 3.5% of Bitcoin ETFs to client portfolios.
In explaining the rapid adoption of these ETFs, Engelbart said Carson Group moved quickly to provide access to these products shortly after their launch.
Responding to questions about the source of funds for Bitcoin ETF purchases, Engelbart explained that investors often reallocate from existing positions in their stock portfolios. Engelbart noted that funds tend to shift away from growth funds or aggressive equity positions towards BTC-specific funds, with these funds making up a small portion of the overall portfolio, usually under five percent.
Engelbart stated that while there has been a notable shift towards Bitcoin ETFs, this is primarily a rotation of existing assets rather than new capital entering the market.
However, many registered investment advisors (RIAs) have not yet started investing in Bitcoin ETFs as they have just completed their first three months.
