Streetbeat News

Assets

BLK

BTCUSD

ETHUSD

Blackrock CEO Larry Fink expressed his belief in cryptocurrency as an asset class during an interview on CNBC. He differentiated between viewing cryptocurrencies as an asset class rather than as a currency.

Portfolio Pulse from Charles Gross

January 12, 2024 | 11:27 am

BLK

Blackrock has agreed to acquire Global Infrastructure Partners for a total consideration of $3 billion in cash and 12 million shares of Blackrock common stock. This strategic move will expand Blackrock's capabilities and offerings in the infrastructure investment space.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 11:01 am

FXI

China's new loans for December amounted to 1,170.0 billion, falling short of the estimated 1,400.0 billion and slightly higher than the previous 1,090.0 billion.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 10:23 am

BRRR

BTF

WGMI

Coinshares has exercised an option to acquire Valkyrie Funds, which will add approximately $110 million to Coinshares' current AUM of $4.5 billion. The acquisition includes Valkyrie's ETF products: BRRR, BTF, and WGMI.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 10:13 am

DOGEUSD

ETHUSD

SHIBUSD

Shiba Inu (CRYPTO: SHIB) saw a 400% increase in token burn rate, with 18 million SHIB tokens removed from circulation. Three anonymous entities burned 16 million SHIB, and Ethereum whales have been accumulating SHIB, with one transaction moving 136.86 billion SHIB worth $1.38 million from Binance to a private wallet. Over the past month, $24.15 million worth of SHIB has been withdrawn from Binance, while SHIB's price increase lags behind Bitcoin and Ethereum.

Portfolio Pulse from Mehab Qureshi

January 12, 2024 | 9:20 am

TCEHY

The Federated Hermes Asia Ex-Japan Equity Fund has bought shares of Tencent Holdings Ltd. (OTC:TCEHY) despite China's regulatory challenges, citing attractive valuations. The fund, which has outperformed most peers, is optimistic about the Chinese market. Tencent's market value dropped significantly due to new gaming regulations, but the fund sees the current low share price as an opportunity. The fund also prefers Samsung Electronics over Taiwan Semiconductor Manufacturing Co. (TSMC) due to expected cyclical downturns for TSMC and a potential earnings recovery for Samsung.

Portfolio Pulse from Benzinga Neuro

January 12, 2024 | 9:19 am

HTZ

TSLA

Hertz Global Holdings (HTZ) plans to sell about 20,000 EVs, including Teslas, from its U.S. fleet in 2024 due to high repair costs, aiming to replace them with combustion engine cars. This decision has divided Tesla (TSLA) supporters. Wedbush analyst Dan Ives sees it as a negative for Hertz but not significantly impacting Tesla, while investor Ross Gerber views it as a setback for Tesla, noting a $250 million loss for Hertz and potential after-market price reduction for Tesla vehicles.

Portfolio Pulse from Anan Ashraf

January 12, 2024 | 8:38 am

BTCUSD

Anthony Scaramucci, CEO of SkyBridge Capital and former White House Communications Director, expressed interest in buying spot Bitcoin ETFs following the SEC's approval for their creation. Scaramucci believes this approval is a pivotal moment for cryptocurrency, contributing to the growth of his hedge fund and predicting Bitcoin could surpass its all-time high by next year. The SEC's decision is seen as a significant step in mainstream financial adoption of Bitcoin, though it does not constitute an endorsement of the cryptocurrency.

Portfolio Pulse from Benzinga Neuro

January 12, 2024 | 6:18 am

ARKK

BLK

FNF

IVZ

ARK Invest CEO Cathie Wood has revised her Bitcoin price projection to $1.5 million by 2030, up from her previous estimate of $1 million. This revision follows the SEC's approval of several spot Bitcoin ETFs, including one from ARK Invest. Wood also revealed that at least 25% of her financial net worth, excluding her firm and real estate, is invested in Bitcoin. BTC was trading at $46,050.65 at the time of the article.

Portfolio Pulse from Mehab Qureshi

January 12, 2024 | 5:53 am

EWA

Australia's Home Loans for the month showed a 0.5% increase, surpassing the 0.0% estimate and coming down from the previous 5.6%.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 5:29 am