LATEST: Burkett Financial Services Invests in Bitcoin Through ETFs

South Carolina’s Burkett Financial Services has made a strategic leap into cryptocurrency, revealing substantial investments in Bitcoin exchange-traded funds (ETFs) on April 1. The financial planning firm has diversified its portfolio by acquiring 602 shares of BlackRock’s iShares Bitcoin Trust (IBIT), a spot Bitcoin ETF, valued at $24,363. Additionally, Burkett has invested in the Bitcoin Strategy ETF (BITO) by ProShares, holding 630 shares with a total value of $20,344. These investments signify a pioneering step for Burkett, marking its entry into the digital currency space through ETFs.

Despite the focus on cryptocurrencies, these holdings represent a minor fraction of Burkett’s vast $194 million investment portfolio, which predominantly includes traditional ETFs and major stocks like Microsoft and Apple. This move positions Burkett as the first traditional financial institution to embrace Bitcoin indirectly through ETF investments, showcasing a blend of innovation and caution in navigating the volatile crypto market.

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