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GBTC

A Bitwise and VettaFi survey reveals only 39% of financial advisors believe the SEC will approve a spot Bitcoin ETF in 2024. Firms like BlackRock, VanEck, and Valkyrie Investments await the SEC's decision on their applications. Despite Bloomberg analysts' 90% approval prediction, advisors are cautious, with 88% indicating approval would be a significant trigger for Bitcoin investment. Currently, only 19% of advisors can buy crypto on client accounts, but 98% of those investing in crypto plan to maintain or increase their exposure in 2024. The SEC's deadline for final amendments was Dec. 29, 2023, and Peter Schiff warns of potential market reactions to the approval news.

Portfolio Pulse from Rounak Jain

January 06, 2024 | 4:27 am

CHK

CVX

EQT

HES

OXY

PXD

SWN

XOM

Southwestern Energy Co. (SWN) and Chesapeake Energy Corp. (CHK) are reportedly close to finalizing a merger to create a $17 billion natural gas giant. The merger could make the combined entity one of the largest gas producers in the U.S. Southwestern's stock rose over 7%, and Chesapeake's shares gained over 2% following the news. The merger is part of a trend of energy industry consolidations, with recent deals involving Exxon Mobil (XOM), Chevron (CVX), and Occidental Petroleum (OXY).

Portfolio Pulse from Rounak Jain

January 06, 2024 | 2:30 am

EIGR

Trading on Eiger BioPharmaceuticals, Inc. (EIGR) was halted at 7:50:00 p.m. ET due to pending news. The halt is in place to ensure a fair and orderly market until the pending news is released to the public.

Portfolio Pulse from Benzinga Newsdesk

January 06, 2024 | 12:50 am

BLK

FNF

The U.S. SEC has indicated that issuers of spot Bitcoin ETFs can submit their final 19b-4 filings, which are proposals for rule changes on stock exchanges, as soon as Friday. SEC commissioners are expected to vote on these filings next week. Additionally, issuers need SEC approval for their S-1 filings and ETF prospectus documents. The approval of 19b-4 and S-1 forms may not occur simultaneously, with a gap of days expected between them. Once the S-1 is approved, trading can commence on the next business day. BlackRock, Fidelity, Grayscale, VanEck, Valkyrie, and 21Ark have made recent filings. Bloomberg analyst Eric Balchunas commented that the 19b-4 filings might not pass until Jan. 10 and S-1 approvals could extend to Jan. 16 or later.

Portfolio Pulse from Khyathi Dalal

January 05, 2024 | 10:15 pm

CNEY

CN Energy Group, Inc. (CNEY) received a delisting notification from Nasdaq due to non-compliance with the minimum bid price requirement. The company's stock had a closing bid price of $0.10 or less for ten consecutive days. CNEY has requested a hearing to appeal the delisting, which will stay the suspension and Form 25-NSE filing pending the Panel's decision. There is no assurance of a successful outcome for the appeal.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 10:03 pm

AAPL

Apple Inc (AAPL) is reportedly on the verge of facing a federal antitrust lawsuit from the U.S. Department of Justice (DOJ). The DOJ's investigation focuses on Apple's business practices, including the compatibility of the Apple Watch with the iPhone, the exclusivity of iMessage, the Apple Pay system, and restrictions on cloud gaming apps in the App Store. The DOJ has consulted with companies like Tile and Beeper, as well as financial service providers, about Apple's restrictive practices. This comes amid global regulatory scrutiny, with the European Digital Markets Act requiring open access to competing app stores on Apple devices. Apple's stock was down 0.40% at market close on Friday.

Portfolio Pulse from Erica Kollmann

January 05, 2024 | 9:48 pm

CPTN

Cepton's CFO, Hull Xu, has resigned from his position according to an SEC filing dated January 5, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 9:43 pm

RBT

Rubicon Technologies Inc has filed with the SEC for a shelf registration allowing selling stockholders to sell up to 7.4 million shares of Class A common stock. This does not represent new financing, but rather provides the opportunity for existing shareholders to sell their shares over time.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 9:34 pm

SFE

Safeguard Scientifics has announced a 1-for-100 reverse stock split followed by a 100-for-1 forward stock split, expected to be effective around January 12, 2024. The company's common stock will trade on Nasdaq on a post-forward split basis starting January 16, 2024. Additionally, Mark Dow has been appointed as CEO, CFO, and Secretary.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 9:33 pm

BLK

BTCUSD

Bitcoin influencers are discussing the potential approval of a spot Bitcoin ETF with mixed opinions on its short-term impact but general optimism for the long-term. Raoul Pal and others emphasize the importance of a long-term perspective. Eleanor Terrett notes expected amendments and comments on filings. Matt Hougan highlights the growing knowledge about ETFs. Matthew Sigel from VanEck mentions BlackRock's readiness for inflows, and Bloomberg's Eric Balchunas anticipates multiple ETF approvals. Adam Cochran suggests the impact may be underestimated in the long term.

Portfolio Pulse from Khyathi Dalal

January 05, 2024 | 9:33 pm