Streetbeat News

Regulatory

ETHE

GBTC

Grayscale Investments, a U.S.-based digital currency asset management company, is closer to launching a Bitcoin ETF based on the Grayscale Bitcoin Trust (GBTC) following the SEC's decision not to pursue any further objections. The GBTC holds about 3% of all the Bitcoin available, worth over $18 billion. Grayscale is also applying for a similar spot Ethereum ETF based on the Grayscale Ethereum Trust (ETHE), which holds under $5 billion in Ethereum. Dave LaValle, the Global Head of ETFs for Grayscale, believes that combining the innovations of an ETF wrapper with a solid digital currency like Bitcoin will lead to investing efficiencies, saving money for investors and offering greater transparency and tax benefits.

Portfolio Pulse from Justin Roberti

October 18, 2023 | 9:54 pm

EGPT

EIS

SPY

USO

Egypt's President Sisi and President Biden have agreed to bring humanitarian aid into Gaza in a sustainable manner, according to Reuters. This could potentially impact the performance of certain ETFs.

Portfolio Pulse from Charles Gross

October 18, 2023 | 9:24 pm

DIS

Disney announced that it will reorganize its media and entertainment businesses, which were previously reported as one segment. Starting from the fourth quarter of fiscal 2023, the financial results will be reported in two segments, Entertainment and Sports. This move is aimed at restoring creativity and providing increased transparency.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 9:07 pm

BTCUSD

SEC Chair Gary Gensler confirmed that the agency is actively working on several Bitcoin ETF filings. The review process is rigorous and similar to the traditional IPO process. This comes at a time when the cryptocurrency market is keenly observing regulatory developments. Gensler's comments underscore the SEC's commitment to a meticulous review to ensure that any approved Bitcoin ETF aligns with the regulatory framework aimed at safeguarding investor interests and maintaining market stability.

Portfolio Pulse from Murtuza Merchant

October 18, 2023 | 8:57 pm

ATNF

180 Life Sciences has met with the Medicines and Healthcare products Regulatory Agency (MHRA) to propose a path forward for the approval of the company's use of Adalimumab as an anti-TNF therapy. The MHRA has agreed with the company's proposed primary and secondary endpoints for a proposed Phase 3 clinical trial.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 8:44 pm

SGEN

TAK

Takeda Pharmaceutical Company Limited (TAK) has announced that the European Commission has approved ADCETRIS for the treatment of adult patients with previously untreated CD30+ Stage III Hodgkin lymphoma. The approval is based on positive overall survival results from the Phase 3 ECHELON-1 study. This marks the first significant improvement in overall survival in two decades in Stage III & IV Hodgkin lymphoma. ADCETRIS is being jointly developed by Seagen (SGEN) and Takeda.

Portfolio Pulse from Happy Mohamed

October 18, 2023 | 8:39 pm

XEL

Xcel Energy has been awarded a $100 million grant from the U.S. Department of Energy to enhance grid resiliency and mitigate wildfire threats. The funding will support projects in Colorado, Minnesota, New Mexico, Texas, and Wisconsin, aimed at protecting lives, homes, and forests while reducing power outages. The projects will include adding fire-resistant coatings to wood poles, improving equipment safety, moving high-risk circuits underground, and enhancing vegetation management. The projects are expected to span five years, starting in 2024.

Portfolio Pulse from Happy Mohamed

October 18, 2023 | 8:22 pm

EVTV

Envirotech Vehicles, Inc. (NASDAQ:EVTV) has regained compliance with the Nasdaq Stock Market, LLC Listing Rule 5250(c)(1) which requires timely filing of all required periodic financial reports with the SEC. The company is now current on its SEC financial reporting obligations.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 8:13 pm

LFCR

Lifecore Biomedical, Inc. (NASDAQ:LFCR) has received a notice from Nasdaq for not complying with the Listing Rule 5250(c)(1) due to delayed filing of its Interim Report on Form 10-Q and Annual Report on Form 10-K. The company has submitted a plan to regain compliance and has until February 12, 2024, to file the reports. The notice does not immediately affect the company's listing or trading on the Nasdaq Global Select Market.

Portfolio Pulse from Happy Mohamed

October 18, 2023 | 8:07 pm

PLD

XLRE

The boom in housing construction driven by low-interest rates during the COVID-19 pandemic has ended due to higher rates, with the number of new building permits for multi-unit residential buildings dropping to a three-year low in September. Real estate stocks have not participated in 2023’s broad-market rally, with the Real Estate Select Sector SPDR Fund (NYSE:XLRE) down 8% year-to-date and Prologis Inc (NYSE:PLD) down about 6% YTD.

Portfolio Pulse from Aaron Bry

October 18, 2023 | 8:03 pm