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TD Cowen predicts the SEC will delay approval of spot Ethereum ETFs, citing the agency's likely preference to observe Bitcoin ETFs first. The SEC's cautious stance on crypto regulation, as demonstrated by Chair Gary Gensler, supports this forecast. Major firms like BlackRock and Fidelity have shown interest by applying for Ethereum ETFs, despite the SEC's hesitance and the need to classify Ethereum as a commodity.

Portfolio Pulse from Mehab Qureshi

January 15, 2024 | 5:18 am

BTCUSD

ETHUSD

The Crypto Fear and Greed Index has shifted to 'neutral' for Bitcoin sentiment, scoring 52 out of 100, after a brief period of 'extreme greed' following the U.S. approval of spot Bitcoin ETFs. The index, which analyzes various market metrics, reflects a cooling of enthusiasm since October 2023. In the past 24 hours, $116.62 million in trader liquidations occurred, with significant losses in cryptocurrency long positions, including $19 million in Bitcoin and over $20 million in Ethereum. Bitcoin's price spiked to $49,000 post-ETF approval but has since retreated, trading at $42,544, down 0.41%.

Portfolio Pulse from Mehab Qureshi

January 15, 2024 | 4:08 am

GBTC

Anthony Scaramucci, founder of SkyBridge Capital and former White House Communications Director, attributed the recent decline in Bitcoin's price to a sell-off in Grayscale Bitcoin Trust (GBTC) shares and the liquidation by the bankruptcy estate of FTX. Despite the launch of Bitcoin ETFs in the U.S., which initially drove Bitcoin's price up, GBTC shares fell by 5.2% on Friday. Scaramucci expects the excess supply to level out soon and anticipates increased marketing activities for Bitcoin ETFs after the end of a 'quiet period' on Wall Street.

Portfolio Pulse from Mehab Qureshi

January 15, 2024 | 3:16 am

BTCUSD

DOGEUSD

ETHUSD

LINKUSD

TONUSD

XTZUSD

Cryptocurrencies Bitcoin, Ethereum, and Dogecoin saw a decline after the initial excitement over Bitcoin ETFs faded. Bitcoin had spiked to $49,000 but later dropped, while Ethereum and Dogecoin also experienced decreases. The global cryptocurrency market cap increased slightly. U.S. stocks had a mixed performance, with the S&P 500 and Nasdaq Composite seeing marginal gains. The market is closed on Monday for Martin Luther King Day. Analysts suggest Bitcoin may consolidate, and altcoins could flourish, with Ethereum potentially becoming the next asset on a spot market ETF.

Portfolio Pulse from Mehab Qureshi

January 15, 2024 | 2:41 am

DIS

Walt Disney Co. (NYSE:DIS) is in talks with the NFL about a potential deal for the NFL to acquire a stake in ESPN. The deal would also potentially place the NFL's media unit under Disney's control, bringing NFL Network and RedZone into Disney's portfolio. The discussions are aimed at strengthening Disney's sports rights and countering falling affiliate revenue. The deal is not yet finalized and would require NFL owners' approval. Disney has been seeking partners for ESPN and has approached sports leagues with vested interests in ESPN's success.

Portfolio Pulse from Benzinga Neuro

January 14, 2024 | 8:44 pm

HWEP

HW Electro Co., Ltd (NASDAQ:HWEP) is set to go public on Jan. 17, 2024, offering 3,750,000 shares at $4.00 each with a 180-day insider lock-up period. IPOs allow companies to raise capital by meeting SEC requirements and working with investment banks to set offering ranges and opening prices.

Portfolio Pulse from Benzinga Insights

January 14, 2024 | 8:02 pm

BTCUSD

Former Goldman Sachs executive Raoul Pal predicts a crypto bull run, citing the introduction of spot market Bitcoin ETFs and a cleared out leverage as key factors. He anticipates volatility with potential 30%-35% pullbacks due to high demand and front-running of the ETF launch. Pal suggests the real run to all-time highs will start after a month or two of market chop.

Portfolio Pulse from Bibhu Pattnaik

January 14, 2024 | 6:06 pm

MSTR

Michael Saylor, co-founder of MicroStrategy Inc. (NASDAQ:MSTR), sold between 3,882 and 5,000 shares of the company, netting over $20 million, ahead of the SEC's approval of Bitcoin ETFs. This marks his first share sale in nearly 12 years, which is part of a pre-existing plan to potentially sell up to 400,000 shares by April 26. MicroStrategy's stock has declined by 23% since the year's start, partly due to the introduction of Bitcoin ETFs potentially making its shares less attractive as a Bitcoin proxy. The company's Bitcoin holdings are currently valued at around $8.3 billion, a 40% paper gain.

Portfolio Pulse from Bibhu Pattnaik

January 14, 2024 | 3:01 pm

ARKB

COIN

Ark Invest CEO Cathie Wood predicts Bitcoin could reach $1.5 million by 2030. Ark Invest's ARK 21 Shares Bitcoin ETF (ARKB) was approved by the SEC, potentially boosting Bitcoin's value. Coinbase Global (COIN), a major holding in Ark ETFs, could benefit from increased Bitcoin demand. A $1,000 investment in Bitcoin could yield returns from 494.7% to 3,304.0% by 2030 based on Ark's price targets.

Portfolio Pulse from Chris Katje

January 13, 2024 | 3:27 pm

AAPL

BABA

BAC

JPM

MSFT

WFC

Major indexes ended higher last week, with the S&P 500, Nasdaq, and Dow seeing gains. Inflation rose to 3.4% YoY in December, potentially affecting markets and Fed policies. JPMorgan Chase reported strong earnings, while Bank of America saw revenue decline, Wells Fargo's profits increased, and Citigroup announced job cuts. The SEC approved spot Bitcoin ETFs. Microsoft overtook Apple as the most valuable company, Tesla's sales growth outpaced legacy automakers, and Cathie Wood disclosed a significant personal investment in Bitcoin. Alibaba faced scrutiny from Congresswoman Laurel Lee's stock sale, Solana's price dropped, and Boeing dealt with a 737 MAX 9 incident.

Portfolio Pulse from Michael Cohen

January 13, 2024 | 3:03 pm