Among financial advisors, Carson Group Vice President and Investment Strategist Grant Engelbart said in a recent interview with Bloomberg ETF IQ: Bitcoin It shed light on the growing interest in ETFs. 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.
*This is not investment advice.
For exclusive news, analysis and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android And iOS Start live price monitoring now by downloading our applications!