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FBTC

GBTC

IBIT

Spot Bitcoin ETFs have seen a surge in trading volumes, reaching approximately $10 billion in the first three days. Grayscale's Bitcoin Trust ETF (GBTC) traded about 25 million shares on Tuesday, while BlackRock's iShares Bitcoin Trust (IBIT) and Fidelity Wise Origin Bitcoin Fund (FBTC) also experienced significant volumes. Senior Bloomberg ETF analyst Eric Balchunas highlighted the exceptional activity of these ETFs compared to the rest of the ETFs launched in 2023. Ark Invest's BTC ETF and a Bitwise-managed fund also saw notable trading volumes.

Portfolio Pulse from Mehab Qureshi

January 17, 2024 | 5:54 am

FXI

China's Industrial Production for December increased to 4.6% year-to-date compared to the previous 4.3%, indicating a slight improvement in industrial output.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 5:25 am

FXI

China's Fixed Asset Investment (YoY) for December came in at 3.0%, slightly above the estimated 2.9% and the previous 2.9%. This indicates a marginal increase in investment in fixed assets like infrastructure, machinery, etc., which could signal a strengthening of the Chinese economy.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 5:22 am

AMGN

ARKW

BITO

CRSP

PACB

PFE

QCOM

Ark Invest, led by Cathie Wood, sold $15.84 million worth of ProShares Bitcoin Strategy ETF (BITO) units through its ARK Next Generation Internet ETF (ARKW). The sale occurred during a volatile period in the cryptocurrency market and follows Ark's previous divestment from Grayscale Bitcoin Trust (GBTC). Ark is also aiming for a $4 billion target for its own Ark21Shares Bitcoin ETF (ARKB). Additionally, Ark made other key trades, including purchasing shares of Amgen (AMGN), Pacific Biosciences of California (PACB), CRISPR Therapeutics (CRSP), and Qualcomm (QCOM), while selling shares of Pfizer (PFE).

Portfolio Pulse from Benzinga Neuro

January 17, 2024 | 3:39 am

GBTC

Cryptocurrencies Bitcoin, Ethereum, and Dogecoin saw gains on Tuesday evening. Analysts weigh the impact of spot ETFs on Bitcoin, predicting a potential rejection at $46K and a correction below $40K. Grayscale Bitcoin Trust transferred 8,730 Bitcoin to Coinbase Prime, hinting at possible sales due to its share price decline. The global cryptocurrency market cap increased slightly, while the S&P 500 and Nasdaq Composite saw declines. Investors await December retail sales data, which could impact economic growth perceptions. Ethereum's price dominance over Bitcoin has grown, with a significant increase in new ETH addresses and a decrease in supply on exchanges.

Portfolio Pulse from Mehab Qureshi

January 17, 2024 | 2:50 am

BTCUSD

The latest CoinShares report shows a significant increase in crypto fund inflows, with Bitcoin (BTC) leading at $1.14 billion. U.S. inflows were $1.24 billion, while Germany, Sweden, and Canada saw outflows. Despite the approval of a spot Bitcoin ETF, Bitcoin's price dropped 7.8% in the past week. Crypto enthusiast Michaël van de Poppe suggests the correction is healthy and predicts a significant rise in Bitcoin's value. Arthur Hayes, BitMEX co-founder, remains bullish, expecting Bitcoin to reach or exceed its all-time high by year-end.

Portfolio Pulse from Khyathi Dalal

January 16, 2024 | 10:40 pm

ETHUSD

An unknown trader capitalized on a tweet by Ethereum co-founder Vitalik Buterin about a Mediterranean city experiment named Zuzalu, by purchasing a memecoin named after the city. The trader's initial investment of 0.4 ETH ($1,031) ballooned to $490,000 in just three days, marking a 490,000% gain. The memecoin, $ZUZALU, surged following Buterin's tweet. While such stories are common in the crypto space, investors are cautioned about the risks of memecoins, including potential scams like rug pulls. At the time of reporting, ZUZALU had risen 1,071% in the last 24 hours.

Portfolio Pulse from Khyathi Dalal

January 16, 2024 | 10:39 pm

BTC-USD

USDT-USD

Howard Lutnick, CEO of Cantor Fitzgerald, expressed confidence in Tether (USDT), stating the stablecoin has the necessary funds. Despite a UN report linking USDT to criminal activities, Lutnick sees stablecoins as valuable, especially in countries with volatile economies. He also believes Bitcoin (BTC) will grow, comparing its trajectory to early gold ETFs and predicting stability with potential for future rallies. Lutnick was skeptical about the need for Bitcoin ETFs in the U.S., viewing them as less practical than stablecoins in countries like Argentina, Venezuela, and Turkey.

Portfolio Pulse from Murtuza Merchant

January 16, 2024 | 10:12 pm

ATXS

TCG Crossover GP II, LLC has filed a 13G with the SEC, disclosing a 9.9% ownership stake in Astria Therapeutics as of January 5, 2024. This indicates a significant investment by TCG Crossover GP II in Astria Therapeutics, which could suggest confidence in the company's future prospects or strategic interest.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 9:24 pm

PECO

Phillips Edison & Company, Inc. (NASDAQ:PECO) has executed an interest rate swap agreement with a notional amount of $150 million. The swap, effective from September 25, 2024, to December 31, 2025, fixes the daily Secured Overnight Financing Rate at approximately 3.45%. This financial instrument is intended to hedge against interest rate risk from the company's variable rate term loans and is not for trading purposes.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 9:23 pm