HomeBitcoinCarson Group says that advisors in the US are suggesting their clients...

Carson Group says that advisors in the US are suggesting their clients invest in Bitcoin.

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Grant Engelbart, who is the Vice President and Investment Strategist at Carson Group, talked about how more and more financial advisors are becoming interested in Bitcoin ETFs in a recent interview with Bloomberg ETF IQ. According to Engelbart, advisors typically invest about 3. 5% of their clients’ portfolios in Bitcoin ETFs.

In talking about why these ETFs have become popular so fast, Engelbart said that Carson Group acted fast to offer these products as soon as they were available.

When asked where the money for Bitcoin ETF purchases comes from, Engelbart said that investors usually move money from their other stocks. Engelbart noticed that money is moving from investments that focus on growth and aggressive stocks to funds that only invest in Bitcoin. These Bitcoin funds usually make up less than five percent of the whole investment portfolio.

Engelbart said that although more people are investing in Bitcoin ETFs, they are mostly just moving their existing money around instead of putting new money into the market.

However, many financial advisors haven’t started investing in Bitcoin ETFs yet because they’ve only been in business for three months.

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