BlackRock Financial News

Also Read: BlackRock to cut 3% of workforce, aims for larger employee strength by end of 2024 Microsoft has briefly taken the lead over Apple as the most valuable company a handful of times since 2018. Most recently in 2021, it overtook Apple when concerns about supply chain shortages related to the COVID-19 pandemic hit the iPhone maker's stock price. Analysts believe both tech stocks look relatively expensive in terms of price to their expected earnings.

ETFs) to track bitcoin, its Chair Gary Gensler said, in a watershed for the world's largest cryptocurrency and the broader crypto industry. The agency approved applications, including from BlackRock, Ark Investments and 21Shares, Fidelity, Invesco, and VanEck, among others, according to a notice on its website. Some products are expected to begin trading as early as Thursday. The products — a decade in the making — would be a game-changer for bitcoin, offering institutional and retail investors exposure to the world's largest cryptocurrency without directly holding it, and a major boost for a crypto industry beset by a string of scandals. Standard Chartered analysts this week said the ETFs could draw $50 billion to $100 billion this year alone, driving the price of bitcoin as high as $100,000. Other analysts have said inflows will be closer to $55 billion over five years.

Advisors searching forinvesting themes in 2024 may want to try AI, health care innovation and new supply chains, a BlackRock strategist says.

US regulators for the first time approved exchange-traded funds that invest directly in bitcoin, a move heralded as a landmark for the roughly $1.7 trillion digital-asset sector that will broaden access to the largest cryptocurrency on Wall Street and beyond.

Competition among prospective bitcoin exchange-traded fund issuers intensified as companies slashed fees further in a bid to make products more attractive to investors ahead of a regulator’s decision on their future.

People close to BlackRock told Fox Business that savings from the layoffs will be used to expand into growth businesses such as technology investing and alternative investment products.

Spot Bitcoin exchange-traded fund (ETF) fee war has commenced before the US Securities and Exchange Commission (SEC) has even approved the product.

Bitcoin, the flagship cryptocurrency, has recently soared above the $47,000 mark, reaching a 20-month high, amidst growing investor optimism. This remarkable rally is largely driven by the buzz around the anticipated approval of Exchange-Traded Funds (ETFs) by financial giants such as BlackRock and Grayscale.

Multiple applicants for a spot Bitcoin exchange-traded fund (ETF) submitted their final Form S-1 amendments to the United States Securities and Exchange Commission (SEC) on Monday, setting the stage for a potentially historic week in the cryptocurrency market.

BlackRock, the world’s largest asset management firm, is reportedly reducing its global workforce by about 3%, just days before the expected approval of the firm’s spot Bitcoin ETF application.

This week marks a potentially transformative moment for cryptocurrency as the U.S. Securities and Exchange Commission (SEC) is expected to make a key decision on the approval of several spot Bitcoin exchange-traded funds (ETFs).

As the cryptocurrency market buzzes with anticipation, Bitcoin is poised at a crucial juncture, trading at $44,013 with a modest increase of 0.63% on Sunday. In the backdrop of this upward trend, the potential approval of multiple Bitcoin Exchange-Traded Funds (ETFs) is generating excitement. Industry giants BlackRock and Grayscale are gearing up to make significant inroads into the Bitcoin ETF space.

The long-awaited approval for a spot Bitcoin exchange-traded fund (ETF) may finally come this Wednesday.

Tennessee Attorney General Jonathan Skrmetti details his lawsuit against Blackrock on ‘Varney & Co.’

Firms looking to launch spot bitcoin exchange-traded funds cleared a major hurdle this week on the path to gaining sign-off from U.S. regulators in coming days.

Goldman Sachs is in talks to be an authorized participant for the spot bitcoin exchange-traded funds that BlackRock and Grayscale are looking to launch, CoinDesk reported on Wednesday, citing people familiar with the situation. There are currently 14 asset managers hoping to finally win the U.S. Securities and Exchange Commission's approval for spot bitcoin ETFs, which would track the market price of the underlying crypto asset, giving investors exposure to the token without having to buy the currency. The SEC is expected to announce its decision by Jan. 10 — the deadline to either approve or reject the Ark/21Shares ETF. To date, the only crypto ETFs approved have been tied to futures contracts on bitcoin and ethereum. Goldman Sachs and BlackRock declined to comment. Grayscale did not immediately respond to a request for comment from Reuters.

Even when everyone agrees the interest-rate cuts that Wall Street craves so much are coming, there’s still room for potential disappointment

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State Bank of India: India’s largest lender State Bank of India (SBI) is looking to tap the US bond markets to raise $500-750 million. SBI is planning to raise funds through Regulation S bonds, and the roadshows could begin as early as next week. Bank officials have held discussions with about six bond arrangers.

Goldman Sachs is expected to be the latest financial institution to take on the role of authorized participant (AP)  in two key Bitcoin ETFs, according to a new report.

With the Securities and Exchange Commission (SEC) nearing the potential approval of the first Bitcoin (BTC) exchange-traded funds (ETFs), issuers are vying for an early advantage to capture investor interest.