Streetbeat News

Assets

C

Citigroup is set to report $780 million in restructuring charges and a $1.3 billion reserve build related to currencies in Q4, as per Reuters.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 10:09 pm

BITB

Bitwise Asset Management is set to launch a new Spot Bitcoin ETF, ticker BITB, on January 11. The ETF will provide investors with exposure to Bitcoin without the need to directly purchase and hold the cryptocurrency. This launch comes amid growing interest in cryptocurrency investment vehicles and could potentially offer a more regulated and accessible way for investors to gain Bitcoin exposure.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 10:06 pm

AGI

Alamos Gold Inc. (NYSE:AGI) reported record annual gold production of 529,300 ounces for 2023, a 15% increase from 2022, and provided a three-year production and operating guidance. The company expects production growth and declining costs over the next few years, with a 7% growth anticipated by 2026. The Phase 3+ Expansion at Island Gold is on track, and the company is advancing other growth initiatives, including the development plan for PDA and Lynn Lake. Alamos Gold ended 2023 with strong financial performance, generating record revenues of $1.0 billion and increasing its cash position to $225 million while remaining debt-free. The company has increased its 2024 production guidance and expects total cash costs and AISC to remain flat in 2024 and decrease by 2026. Capital spending is projected to decrease by 46% by 2026 at existing operations. Alamos Gold has also increased its exploration budget to the highest level in its history.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 10:04 pm

SPY

Federal Reserve Bank of New York President John Williams stated that recent volatility in the money markets has not impacted the federal funds rate. He also mentioned that the current demand for reserves is likely higher compared to the past, and emphasized the need for the Fed to consider its balance sheet strategy this year. Williams did not express concern over every fluctuation in the financial markets.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:51 pm

SPY

Federal Reserve Bank of New York President John Williams stated that the Fed is in a 'good place' with its current policy, which remains quite restrictive. He mentioned that the Fed has time to consider future actions regarding interest rates and emphasized the need to eventually return policy to more neutral levels. Williams also acknowledged the presence of some volatility in money market rates.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:51 pm

BTCUSD

SEC Chair Gary Gensler has warned investors about the risks associated with Bitcoin and crypto-related products. He emphasizes the need for caution due to the various uncertainties and potential for loss in the crypto market.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:47 pm

BTCUSD

SEC Chair Gary Gensler clarified that the SEC's approval for the listing and trading of certain spot Bitcoin ETP shares does not equate to an endorsement of Bitcoin itself.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:47 pm

BTCUSD

SEC Chair Gary Gensler has indicated that following a court's order, the most sustainable course of action is to approve the listing and trading of spot ETP (Exchange-Traded Product) shares, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:46 pm

BTCUSD

The U.S. Securities and Exchange Commission (SEC) Chair has announced the approval of several spot Bitcoin exchange-traded products (ETPs) for listing.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:45 pm

ARKW

BITW

BTCUSD

GBTC

The SEC has approved applications for spot Bitcoin ETFs, a decision that is expected to significantly impact the cryptocurrency and traditional finance sectors. The approved ETFs include Grayscale Bitcoin Trust, Bitwise Bitcoin ETF, Hashdex Bitcoin ETF, iShares Bitcoin Trust, Valkyrie Bitcoin Fund, ARK 21Shares Bitcoin ETF, Invesco Galaxy Bitcoin ETF, VanEck Bitcoin Trust, WisdomTree Bitcoin Fund, Fidelity Wise Origin Bitcoin Fund, and Franklin Bitcoin ETF. This approval follows a false tweet from a compromised SEC account, which caused a temporary drop in Bitcoin prices. Experts predict the decision will attract new investors, integrate Bitcoin with traditional finance, and boost the digital asset ecosystem. The ETFs are seen as a step towards legitimizing Bitcoin and may lead to more stability and growth in the long term.

Portfolio Pulse from Murtuza Merchant

January 10, 2024 | 9:34 pm