Madden Securities Corp, a Texas-based registered investment advisor (RIA), has disclosed significant holdings in various Spot Bitcoin ETFs. This marks the firm’s first foray into crypto ETFs, as revealed in a 13F filing submitted to the U.S. Securities and Exchange Commission (SEC) early on Thursday, July 11. The investment advisory firm has allocated over $1.67 million across multiple BTC ETFs.
Madden Securities Enters Bitcoin ETF Market
The firm’s most substantial investment was in the Grayscale Bitcoin Trust (GBTC), with a notable allocation of $520,953 for 9,785 shares, according to the SEC filing. This investment reflects Madden Securities’ belief in Grayscale’s long-standing market presence and its position as a leading Bitcoin investment vehicle. Additionally, the firm invested $481,334 in VanEck Bitcoin Trust (HODL), acquiring 7,092 shares.
Furthermore, Madden Securities allocated $341,400 to BlackRock’s iShares Bitcoin Trust (IBIT), purchasing 10,000 units. Moreover, BlackRock’s entry into the Bitcoin ETF market has been met with significant investor interest, and Madden Securities’ investment is a testament to this trend.
The firm also invested $329,890 in Ark 21Shares Bitcoin ETF (ARKB), acquiring 5,500 units. Ark 21Shares’ innovative approach to Bitcoin investments has attracted considerable attention. Hence, Madden Securities’ inclusion of ARKB in its portfolio indicates a strategic diversification within the crypto ETF market.
Madden Securities’ entry into the crypto ETF market is part of a broader trend among investment firms. Burkett Financial Services, another investment advisory firm, recently revised its crypto investment strategy, signaling a growing confidence in BTC ETFs.
Moreover, Burkett Financial Services opted to liquidate the ProShares Bitcoin Strategy ETF (BITO) in favor of BlackRock’s IBIT. According to recent SEC filings, Burkett Financial Services significantly increased its IBIT holdings, reflecting a robust endorsement of BlackRock’s approach to Bitcoin ETFs.
Also Read:Â Bitcoin ETF: Investment Advisor Goes All In On BlackRock ETF, Dumps ProShares BITO
Other Acquisitions & ETF Inflows
In its latest 13F filing dated July 10, Burkett Financial Services reported holding 1,168 units of IBIT, valued at $39,876. This represents a substantial increase from its first-quarter position, where the firm held 602 units worth $24,363. The surge in their IBIT investment indicates a strategic shift toward a more concentrated investment in BlackRock’s IBIT ETF.
Conversely, Burkett Financial Services completely liquidated its position in ProShares’ BITO ETF during the second quarter. The firm had previously held 630 units of BITO, valued at $20,344, in the first quarter. Whilst, on Wednesday, July 10, Spot Bitcoin ETFs registered a phenomenal inflow of $147 million.
This marks the fourth consecutive trading day with net inflows exceeding $100 million. Moreover, Fidelity’s FBTC ETF led the inflow surge with an impressive $57.8 million influx on July 10.
In contrast, BlackRock‘s IBIT ETF witnessed a notable drop in inflows, plunging from $121 million to $22.2 million. On the other hand, Grayscale Bitcoin Trust registered slowed outflows with $8.2 million withdrawn.
Also Read:Â Fiduciary Alliance Grabs Major Holdings In BlackRock Bitcoin ETF, GBTC, Crypto Shares
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
