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Valkyrie Investments has launched one of the first spot bitcoin ETFs in the U.S., leveraging its investment management expertise and successful track record in cryptocurrency.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 2:11 pm

GBTC

Grayscale Bitcoin Trust (GBTC) has started pre-market trading at 4 am EST, following the SEC's approval of spot Bitcoin ETFs. GBTC's early trading could provide a competitive advantage over other approved ETFs like those from Bitwise, Hashdex, iShares, Valkyrie, ARK 21Shares, Invesco Galaxy, VanEck, WisdomTree, Fidelity Wise Origin, and Franklin. This regulatory shift may lead to increased institutional investment and mainstream acceptance of Bitcoin.

Portfolio Pulse from Benzinga Neuro

January 11, 2024 | 2:10 pm

PDD

PDD Holdings (NASDAQ:PDD) has delivered an impressive average annual return of 43.92% over the past 5 years, outperforming the market by 31.07% on an annualized basis. A $100 investment in PDD stock 5 years ago would be worth $618.42 today. PDD Holdings currently has a market capitalization of $200.23 billion.

Portfolio Pulse from Benzinga Insights

January 11, 2024 | 2:00 pm

N/A

Circle Internet Financial, issuer of the USDC stablecoin, has confidentially filed for an IPO in the United States. The company previously planned to go public via a SPAC deal valued at $9 billion, but the deal was terminated in December 2022. CEO Jeremy Allaire remains committed to a public listing. USDC is the second-largest stablecoin by market cap, with $25 billion in circulation, down from over $56 billion in mid-2022. The crypto industry faced a downturn in 2022, marked by investor caution and the collapse of several crypto firms.

Portfolio Pulse from Murtuza Merchant

January 11, 2024 | 1:55 pm

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MARA

MSTR

RIOT

The SEC has approved rule changes allowing 11 Bitcoin ETFs to begin trading in the U.S., including Grayscale Bitcoin Trust, ARK 21Shares Bitcoin ETF, Invesco Galaxy Bitcoin ETF, Bitwise Bitcoin ETF, VanEck Bitcoin Trust, and Fidelity Wise Origin Bitcoin Fund. This news has positively impacted the crypto market, with Bitcoin, Ethereum, and Dogecoin experiencing significant price increases. Crypto-related stocks such as Marathon Digital Holdings, Riot Platforms Inc, MicroStrategy Inc, Coinbase Global Inc, and Robinhood Markets Inc also saw their stock prices rise following the announcement.

Portfolio Pulse from Adam Eckert

January 11, 2024 | 1:47 pm

RWAY

Runway Growth Finance Corp. (RWAY) reported Q4 2023 portfolio updates, with eight investments totaling $154.6M in funded loans and other investments. Investments included new and existing portfolio companies, such as Blueshift Labs, Linxup, Betterment, Synack, Bombora, Route 92 Medical, Snagajob, and Gynesonics. The company also experienced two prepayments totaling $61.7M. The CEO highlighted strong momentum and opportunities for 2024, especially in the second half of the year.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 1:46 pm

BTM

Bitcoin Depot (NASDAQ:BTM), a leading Bitcoin ATM operator, has announced the hiring of 13 new sales representatives across the U.S., including Hawaii and Puerto Rico. This move is part of the company's aggressive expansion strategy for 2024, aiming to significantly increase the number of Bitcoin Depot kiosk locations and set a new record for installed BTMs by the end of 2024. The new hires are expected to secure 100-200 new kiosk locations monthly and will contribute to Bitcoin Depot's growth and partnerships with regional and national retailers.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 1:45 pm

TROW

T. Rowe Price Group, Inc. (TROW) reported preliminary assets under management (AUM) of $1.45 trillion for December 2023. The company experienced net outflows of $9.4 billion in December and $28.3 billion for the quarter, totaling $81.8 billion in net outflows for the year. AUM increased across all asset classes compared to the previous month, quarter, and year-end. TROW will release Q4 2023 earnings on February 8, 2024, and host an earnings call the same day.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 1:38 pm

BLK

IBIT

BlackRock has launched a new spot bitcoin ETF, the iShares Bitcoin Trust (IBIT), which is now trading on Nasdaq. The ETF aims to mirror the price performance of bitcoin. It has a sponsor fee of 0.25%, with a temporary reduction to 0.12% on the first $5 billion AUM.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 1:33 pm

BTCUSD

The SEC has approved the listing and trading of spot Bitcoin ETFs, revealing a divide within the commission. Commissioner Hester Peirce hailed the decision as a victory for investor choice, while Commissioner Caroline Crenshaw expressed concerns about fraud and manipulation in the spot market, as well as potential national security risks. The decision underscores the ongoing debate about Bitcoin's role in the financial system.

Portfolio Pulse from Murtuza Merchant

January 11, 2024 | 1:26 pm