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GDX

Issuers of Bitcoin ETFs are skeptical about the SEC's willingness to approve an Ethereum-based ETF, despite earlier approvals for Bitcoin ETFs. Companies like BlackRock, Fidelity, and VanEck, having faced delays and a lack of feedback on their ether ETF applications, express doubts, especially given the SEC's scrutiny of crypto assets under federal securities laws. CoinShares and Digital Finance Group CEOs also shared their skepticism, with the latter noting Ethereum's strong performance amid rumors of a U.S. ETF approval.

Portfolio Pulse from Benzinga Neuro

April 09, 2024 | 1:14 pm

EPD

Enterprise Products Partners L.P. (EPD) has been granted a deepwater port license for its Sea Port Oil Terminal (SPOT) project. This license allows EPD to progress with the development of the SPOT project, aimed at enhancing its oil export capabilities.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 12:52 pm

B

Barnes Aerospace, a division of Barnes Group Inc., announced plans to expand its Aero Engine Maintenance, Repair, and Overhaul (MRO) facility in East Granby, Connecticut. This expansion aims to enhance the company's capabilities in servicing aero engines, supporting growth in the aerospace sector.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 12:45 pm

AVIV

GGAL

GSIB

HSBC

HSBC Holdings plc (NYSE:HSBC) is selling its Argentina operations to Grupo Financiero Galicia (NASDAQ:GGAL) for $550M, including banking, asset management, and insurance sectors. The deal involves cash, loan notes, and Galicia's ADRs, with ADRs representing less than a 10% economic interest in Galicia. HSBC anticipates a $1.0 billion pre-tax loss from this sale in Q1 2024 but maintains its dividend payout ratio target and return on equity expectations for 2024. The transaction is expected to close within 12 months, pending regulatory approvals.

Portfolio Pulse from Lekha Gupta

April 09, 2024 | 12:43 pm

ARKK

COIN

TSLA

Tesla Inc. (TSLA) has regained its position as the top holding in Cathie Wood's Ark Innovation ETF (ARKK), surpassing Coinbase Global (COIN) due to a surge in Tesla's shares and Ark's ongoing sell-off of Coinbase shares. Tesla's holdings in ARKK are valued at $714.36 million, with both Tesla and Coinbase having a 9.75% weighting in the ETF. Ark remains bullish on Tesla, holding a $2,000 price target for the stock. Despite selling Tesla shares during 2023's price cuts, Ark bought over $22 million worth of Tesla stock on a recent dip. Tesla is also present in other Ark ETFs, and Ark has been selling Coinbase shares since July 2023.

Portfolio Pulse from Shanthi Rexaline

April 09, 2024 | 12:19 pm

BITB

GBTC

IBIT

Spot Bitcoin ETFs experienced a net outflow of $223 million on Monday, with Grayscale's Bitcoin Investment Trust (GBTC) seeing a $303 million outflow. However, Bitwise ETF (BITB) and BlackRock's iShares Bitcoin Trust (IBIT) recorded inflows. Additionally, Defiance Investments filed with the SEC to launch a 2x leveraged Ethereum futures ETF, indicating a growing complexity in cryptocurrency investment options. The SEC delayed decisions on Bitcoin ETF applications from Bitwise and Grayscale until May 29.

Portfolio Pulse from Murtuza Merchant

April 09, 2024 | 12:04 pm

BTCUSD

Crypto analyst Michaël van de Poppe suggests Bitcoin could retest its all-time high if it remains above $69K. Currently, Bitcoin is trading at $70,773.87. Van de Poppe's insights come amid a significant rally in Bitcoin, with the crypto community closely watching its performance. The potential for Bitcoin to hit $125,000 before 2025 is discussed, alongside warnings from Arthur Hayes about a possible market firesale due to the Bitcoin halving and Federal Reserve policies.

Portfolio Pulse from Benzinga Neuro

April 09, 2024 | 11:55 am

AG

First Majestic Silver shares are trading higher due to an increase in precious metals stocks, influenced by the rising prices of gold and silver.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 11:48 am

PAAS

Pan American Silver Corp. shares are trading higher due to an increase in precious metals stocks, driven by a rise in gold and silver prices.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 11:44 am

TSM

Taiwan Semiconductor (TSM) shares are up following the announcement of a $6.6 billion funding from the US to enhance chip production in the US.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 11:36 am