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Regulatory

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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

BTCUSD

COIN

ETHUSD

MARA

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SPY

Republicans on the Financial Services Committee have called for a briefing from the SEC regarding a compromised account and an unauthorized post about a Bitcoin ETF. The incident raises concerns about the SEC's cybersecurity measures and the potential impact on investor confidence and market integrity.

Portfolio Pulse from Charles Gross

January 10, 2024 | 10:51 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

GSD

Global System Dynamics (GSD) has been notified by Nasdaq that it is not in compliance with the Nasdaq Listing Rule requiring an annual shareholder meeting. The company must submit a plan to regain compliance.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 10:36 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

BBIO

BridgeBio Pharma reported the publication of results from its Phase 3 ATTRibute-CM study of Acoramidis in the New England Journal of Medicine. The study showed a significant treatment effect on all-cause mortality, cardiovascular-related hospitalization, and other measures for patients with Transthyretin Amyloid Cardiomyopathy. BridgeBio has submitted an NDA to the FDA and plans to submit to other regulatory bodies in 2024.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 10:17 pm

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British Columbia's legal cannabis market has seen a 40.9% increase in sales volume, but faces challenges such as an 11.7% decline in average prices and increased competition with 490 legal stores now operating. OrganiGram Holdings Inc (OGI), Rubicon, Village Farms International Inc (VFF), and Cronos Group Inc (CRON) are key players in the market. Australia's TGA has updated medicinal cannabis advertising guidelines, and Clever Leaves Holdings Inc. (CLVR) received Australian GMP certification for its Colombian facilities. Antigua and Barbuda's cannabis committee is reviewing legislation with a focus on youth impact.

Portfolio Pulse from Joana Scopel

January 10, 2024 | 10:03 pm

AAPL

The U.S. International Trade Commission (ITC) has opposed Apple Inc.'s motion to stay an import ban on some of its products pending an appeal. The ITC's decision could potentially lead to a ban on the import of certain Apple devices that infringe on a patent held by a competitor. Apple is likely to face challenges in its supply chain and sales if the ban is enforced.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 10:01 pm