Major Financial Firms Cautiously Limit Advisor Access to New Bitcoin ETFs
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Carson Group limited advisor access to 4 of the 10 new spot bitcoin ETFs based on metrics like assets, expenses, trading volume, and firm history in crypto.
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Mega RIAs are taking a cautious approach to the new crypto ETFs, with Merit Financial Advisors following LPL's limited offering of just Grayscale bitcoin funds.
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Major brokerages like Vanguard, Merrill Lynch, and Edward Jones restricted access to the new spot bitcoin ETFs at launch.
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Ric Edelman says limiting choice of bitcoin ETFs is a responsible strategy given the funds' newness and crypto's risks.
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Edelman adds that vetting a small list of ETFs shows clients an RIA's thoughtful due diligence while improving value-add.