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The SEC approved Bitcoin ETFs, leading to a surge in major cryptocurrencies like Bitcoin, Ethereum, and Dogecoin. The approval follows a court ruling against the SEC's previous rejection of Grayscale's spot ETF proposal. The market anticipates further growth in cryptocurrencies, with predictions of Bitcoin reaching $100K. The overall crypto market cap stands at $1.70 trillion, with a slight decrease in the past 24 hours. Stocks closed higher as investors await inflation data and earnings reports.

Portfolio Pulse from Mehab Qureshi

January 11, 2024 | 2:52 am

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TSLA

The psychedelics industry is experiencing rapid growth, with the global market projected to reach $7.1 billion by 2032. The article highlights 30 influential figures in the field, including executives, scientists, and advocates, who are driving innovation and acceptance of psychedelic medicines. Among the notable individuals are Janet Qi of PurMinds Neuropharma, Dr. Anna Yusim, Kristina Spionjak of HLTH Communications, Marik Hazan of Tabula Rasa Ventures, Shayla Love, Doug Drysdale of Cybin Inc. (NYSE:CYBN), Dr. Beatriz Caiuby Labate of MAPS, Dr. David Meiri, Nataliya Vorobyeva of Hive Bio, Dr. Joseph Tucker of Enveric Biosciences (NASDAQ:ENVB), Amanda Siebert, Mattha Busby, Dennis Walker of Mycopreneur, Graham Pechenik, Rick Doblin of MAPS PBC, Jules Evans, Prof. David Nutt, Dr. Peter Grinspoon, Dr. Nolan Williams, Genevieve and Steve Jurvetson (Steve is an early VC investor in Tesla (NASDAQ:TSLA)), Reilly Capps, Payton Nyquvest of Numinus Wellness (OTC:NUMIF), Andrew Huberman, Dr. Max Wolff, Amanda Feilding, Dr. Rachel Yehuda, Dr. Mason Marks, David B. Yaden, and Dr. Robin Carhart-Harris. The article emphasizes the diverse backgrounds and contributions of these individuals to the advancement of psychedelic therapy for mental health.

Portfolio Pulse from Lara Goldstein

January 11, 2024 | 12:56 am

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The SEC's approval of spot Bitcoin ETF applications is celebrated by crypto industry leaders as a significant milestone for digital assets. It is expected to bridge the gap between traditional finance and cryptocurrency, increase accessibility, and attract institutional investors. Experts from the Crypto Council for Innovation, Moody's, Chainlink, Wormhole, WisdomTree, Cypher Wallet, Tether, and Bitfinex provided positive remarks on the approval's implications for market stability, regulatory evolution, and the finance industry.

Portfolio Pulse from Murtuza Merchant

January 10, 2024 | 11:23 pm

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The SEC approved applications for spot Bitcoin ETFs, including Grayscale Bitcoin Trust (GBTC) and others. The approval follows a court ruling against the SEC, directing it to review Grayscale's application. The article compares a $1,000 investment in Bitcoin from July 1, 2013, to its value today, highlighting a hypothetical return of over 52,000%. It also compares returns from investments in SPY, Tesla, and Apple over the same period, with Bitcoin outperforming all.

Portfolio Pulse from Chris Katje

January 10, 2024 | 11:11 pm

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BTCUSD

SEC Chairman Gary Gensler emphasized that the SEC's approval of the first U.S. Spot Bitcoin ETFs does not constitute an endorsement of Bitcoin. The SEC approved 11 applicants, but Gensler reiterated concerns about Bitcoin's speculative nature and association with illicit activities. The statement contrasts Bitcoin with metals ETPs, which have consumer and industrial uses. Gensler's views align with those of JPMorgan's Jamie Dimon, who has criticized Bitcoin's value. Ark Invest's Cathie Wood sees the approval as positive for Bitcoin, while Bitcoin advocates on social media dismissed Gensler's tone. The approval does not imply that an Ethereum ETF will be approved soon.

Portfolio Pulse from Ivan Crnogatić

January 10, 2024 | 11:06 pm

PBA

Pembina Pipeline Corp. is planning a public note offering, which will be conducted in three separate tranches. The closing of the offering is scheduled for January 12, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 10:59 pm

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Ethereum (ETH) has seen a significant price increase, surpassing $2,500, following the approval of Bitcoin ETFs. The rise in Ethereum's price is accompanied by a 108% increase in trading volumes. Layer 2 networks Mantle (MNT) and Optimism (OP), as well as Lido (LDO) and RocketPool (RPL), also reported substantial gains. BlackRock filed for a spot Ether ETF, iShares Ethereum Trust, which could provide U.S. investors with direct exposure to Ethereum. Despite the approval of a Spot Bitcoin ETF, SEC Chair Gary Gensler remains cautious about the regulatory stance on crypto assets, while Commissioner Hester M. Peirce sees potential for a smoother path for other crypto ETPs.

Portfolio Pulse from Khyathi Dalal

January 10, 2024 | 10:51 pm

BLK

BlackRock announced that the SEC has declared the iShares Bitcoin Trust (IBIT) effective, marking a significant step for the firm in offering a spot Bitcoin ETF to investors.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 10:37 pm

BTCW

WisdomTree announced that its WisdomTree Bitcoin Fund (BTCW) has been declared effective by the SEC, allowing investors to gain exposure to Bitcoin through a regulated investment vehicle.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 10:30 pm

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The SEC has approved several spot Bitcoin ETF applications, including those from Grayscale, Bitwise, Hashdex, iShares, Valkyrie, ARK 21Shares, Invesco Galaxy, VanEck, WisdomTree, Fidelity Wise Origin, and Franklin. This decision has led to volatility in crypto markets and mixed reactions in crypto-related stocks. Bitcoin miners Marathon Digital Holdings and Riot Platforms saw initial drops but stabilized, while Coinbase and MicroStrategy traded slightly higher.

Portfolio Pulse from Adam Eckert

January 10, 2024 | 10:23 pm