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Major cryptocurrencies Bitcoin, Ethereum, and Dogecoin experienced a decline on Tuesday evening due to the growing acceptance of prolonged higher interest rates in financial markets. The Securities and Exchange Commission has postponed the ruling on the proposed ARK 21Shares Bitcoin ETF until next year. The S&P 500 and Nasdaq Composite also experienced a decline, while the U.S. Dollar index soared to a 10-month high. Analysts predict that Bitcoin may experience some weakness and may not break crucial levels, while Ethereum may return to being deflationary.

Portfolio Pulse from Mehab Qureshi

September 27, 2023 | 3:44 am

BTCUSD

GBTC

A group of bipartisan lawmakers have written to SEC Chair Gary Gensler, urging the approval of spot Bitcoin ETPs. The letter references a recent court ruling that upheld Grayscale's stance that the SEC violated the Administrative Procedures Act by denying its application to convert the Grayscale Bitcoin Trust into a spot Bitcoin ETP. The lawmakers argue there is no valid reason to continue denying applications for a regulated spot Bitcoin ETP, which they believe would enhance investor protection. The SEC's decision on the proposed ARK 21Shares Bitcoin ETF has been postponed to January 2024.

Portfolio Pulse from Murtuza Merchant

September 26, 2023 | 9:48 pm

ETHUSD

After crypto exchange HTX suffered an $8 million loss due to a hack, Binance CEO Changpeng “CZ” Zhao offered his exchange’s security team to investigate the attack. HTX has proposed a 5% white-hat bonus, worth around $400,000, to incentivize the return of the stolen funds. The exchange has given the attacker an ultimatum to return 95% of the assets within seven days, or face the involvement of law enforcement.

Portfolio Pulse from Khyathi Dalal

September 26, 2023 | 9:39 pm

BNBUSD

COIN

ETHUSD

LDOUSD

The amount of Ethereum (CRYPTO: ETH) being staked has doubled in a year, with about 25% of all available Ethereum currently staked, up from 11% a year ago. Lido (CRYPTO: LDO) remains the dominant player in the staking arena, holding approximately 29% of the total staked Ethereum. Major platforms such as Coinbase Global Inc (NASDAQ:COIN), Kraken, and Binance (CRYPTO: BNB) saw minor declines in their staked Ethereum percentages, while OKX increased its staking activities. However, 82% of the staked Ethereum is worth less than its value from a year ago.

Portfolio Pulse from Murtuza Merchant

September 26, 2023 | 9:29 pm

AMJ

ARKK

EDV

URA

The article discusses the performance of mid-cap ETFs over the past week. Global X Uranium ETF (URA) and J.P. Morgan Alerian MLP Index ETN (AMJ) were the winners, with URA up 4.59% and AMJ down 1.56%. The losers were ARK Innovation ETF (ARKK) and Vanguard Extended Duration Treasury ETF (EDV), with ARKK down 7.64% and EDV down 6.76%. The largest holdings of these ETFs include companies like Cameco Corporation (CCJ), Sprott Physical Uranium Trust, Magellan Midstream Partners LP (MMP), Enterprise Products Partners LP (EPD), Tesla, Inc. (TSLA), and Zoom Video Communications, Inc. Class A (ZM).

Portfolio Pulse from Johnny Rice

September 26, 2023 | 8:51 pm

BKLN

IGV

JNK

XLB

Invesco Senior Loan ETF (BKLN) and iShares Expanded Tech-Software Sector ETF (IGV) have seen significant increases in net assets over the past week, adding $598.32 million and $189.95 million respectively. On the other hand, SPDR Bloomberg High Yield Bond ETF (JNK) and Materials Select Sector SPDR Fund (XLB) have seen a decrease in net assets, with XLB losing $504.13 million. BKLN and IGV have added $996.99 million and $611.22 million in net assets YTD, while JNK and XLB have lost $749.68 billion and added $288.5 billion respectively.

Portfolio Pulse from Johnny Rice

September 26, 2023 | 8:51 pm

WFC

Unusual options activity has been observed for Wells Fargo (NYSE:WFC), with a large position indicating a bullish stance. The sentiment among these big-money traders is split between 62% bullish and 37% bearish. The options activity suggests a target price range from $32.5 to $45.0 for Wells Fargo over the last 3 months. Deutsche Bank and HSBC have downgraded their actions to Buy and Hold respectively, with price targets of $44 and $45.

Portfolio Pulse from Benzinga Insights

September 26, 2023 | 8:30 pm

AES

AES Corporation has agreed to minority sell-downs of its businesses in the Dominican Republic and Panama, expanding its strategic partnership with Grupo Linda and forming a new partnership with Grupo Popular's subsidiary, AFI Popular. The sell-down agreements will provide collective proceeds of $190 million to AES, helping the company achieve its asset sale proceeds target for the year. The company has secured all external funding included in its 2023 capital plan.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 8:26 pm

DHC

OPI

RMR

Diversified Healthcare Trust (DHC) has announced changes to its Board of Trustees and executive leadership team, including the appointment of Phyllis Hollis as an Independent Trustee and Matthew Brown as CFO. DHC has also engaged B. Riley Securities as its financial advisor to address near term capital needs and pending debt maturities. DHC is currently not in compliance with debt incurrence covenants and has $700 million in debt maturing in 2024. The company is considering raising new capital and selling assets to address its capital needs.

Portfolio Pulse from Happy Mohamed

September 26, 2023 | 8:23 pm

VLD

Velo3D, Inc. (VLD) announced that its CFO, William McCombe, has resigned to pursue other career opportunities, effective September 29, 2023. Bernard Chung, the company's VP of Finance, will serve as the Acting CFO from the same date. McCombe will stay on in a transition capacity through November 7, 2023.

Portfolio Pulse from Happy Mohamed

September 26, 2023 | 8:12 pm