Madden Securities Corp, a Texas-based registered investment advisor, has disclosed substantial investments in various Spot Bitcoin ETFs.
This move marks the firm’s initial entry into crypto ETFs, as indicated in their 13F filing submitted to the U.S. Securities and Exchange Commission (SEC) on July 11. The firm has allocated over $1.67 million across several Bitcoin ETFs, signaling a solid belief in the growth potential of these digital assets.
Most of Madden Securities’ investment went to the Grayscale Bitcoin Trust (GBTC). According to the SEC filing, the firm purchased 9,785 shares of GBTC, amounting to $520,953. This allocation reflects confidence in Grayscale’s established presence and role as a prominent Bitcoin investment vehicle.
Additionally, Madden Securities invested $481,334 in the VanEck Bitcoin Trust (HODL), acquiring 7,092 shares. This significant investment demonstrates VanEck’s growing influence in the Bitcoin ETF market.
Investments in BlackRock and Ark 21Shares
Madden Securities also allocated $341,400 to BlackRock’s iShares Bitcoin Trust (IBIT), buying 10,000 units. BlackRock’s entry into the Bitcoin ETF market has garnered significant attention from investors, and Madden Securities’ investment underscores this trend.
Furthermore, the firm invested $329,890 in the Ark 21Shares Bitcoin ETF (ARKB), acquiring 5,500 units. Ark 21Shares’ innovative approach to Bitcoin investments has attracted considerable attention, indicating Madden Securities’ strategy to diversify within the crypto ETF market.
Madden Securities’ move into the crypto ETF market aligns with a broader trend among investment firms. Burkett Financial Services, another investment advisory firm, recently adjusted its crypto investment strategy, showcasing growing confidence in Bitcoin ETFs.
Burkett Financial Services has shifted its focus to BlackRock’s IBIT, liquidating its position in the ProShares Bitcoin Strategy ETF (BITO). According to recent SEC filings, Burkett Financial Services significantly increased its IBIT holdings, strongly endorsing BlackRock’s approach to Bitcoin ETFs.
Increased ETF Inflows and Market Movements
In its latest 13F filing dated July 10, Burkett Financial Services reported holding 1,168 units of IBIT, valued at $39,876. This is a significant increase from its first-quarter position of 602 units worth $24,363. This surge in IBIT investment indicates a strategic shift towards a more concentrated investment in BlackRock’s Bitcoin ETF.
Conversely, during the second quarter, Burkett Financial Services completely liquidated its position in ProShares’ BITO ETF. The firm had previously held 630 units of BITO, valued at $20,344, in the first quarter.
Spot Bitcoin ETFs have continued to attract substantial inflows, with $147 million influx reported on Wednesday, July 10. This marks the fourth consecutive trading day with net inflows exceeding $100 million. Fidelity’s FBTC ETF led the surge with an impressive $57.8 million influx on July 10.
In contrast, BlackRock’s IBIT ETF experienced a notable drop in inflows, decreasing from $121 million to $22.2 million. Meanwhile, the Grayscale Bitcoin Trust saw slowed outflows with $8.2 million withdrawn.
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