Shares Financial News

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.

shares jumped before the open on Thursday after a half-percentage point interest rate cut sparked a flight into risky assets, adding to the momentum of an industry that has already secured some big wins this year. The move could revive interest in bitcoin, the most popular cryptocurrency, which often sways the entire sector as investors chase higher returns and dump safe-havens.

shares of crypto-linked companies slumped as bitcoin fell more than 15% on Monday, after weak economic data last week triggered fears of a recession and set off a frenzied selling of risky assets. The plunge marks a stunning reversal for the sector that until recently was riding a wave of optimism sparked by the approval of exchange-traded funds (ETFs) tied to the spot prices of bitcoin and ether, the two biggest cryptocurrencies.

capital through convertible bonds offering for the second time in less than 10 days to further increase its exposure to booming bitcoin. The software firm said after markets closed on Wednesday that it was offering $500 million in convertible notes due in 2031 to institutional investors. The company had announced a $600 million private offering in convertible notes on March 5.

transaction volumes and higher interest income earned on its stablecoin reserves, sending the crypto exchange's shares up 8% in extended trading. A rebound in crypto prices in the last few months, thanks to optimism around the U.S. Securities and Exchange's approval of the first spot bitcoin-exchange traded funds (ETFs), helped rekindle investor enthusiasm for crypto.

Investors have poured $1.9 billion into nine new exchange-traded funds tracking the spot price of bitcoin in their first three days of trading, data from issuers and analysts showed, with fund giants BlackRock and Fidelity pulling in the lion's share of the flows. Collective flows to the nine funds outpaced post-launch flows into the ProShares Bitcoin Strategy ETF, which drew a record $1.2 billion in the first three days of trading after its 2021 launch. The SPDR Gold Shares ETF attracted $1.13 billion in the first three days after its 2004 launch. Investments in the long-awaited ETFs — launched on Jan. 11, a day after receiving approval from the U.S. Securities and Exchange Commission (SEC) — fell short of the most aggressive estimates of first-day flows in the billions of dollars.

Fund inflows to exchange traded funds (ETFs) tied to the spot price of bitcoin dropped to about $200 million on the second day of trading after attracting $629 million on their debut on Jan. 11, early estimates from J.P. Morgan showed. Eleven such ETFs, with total assets under management worth $27.9 billion, entered the U.S. stock market in a watershed moment for the cryptocurrency industry after years of regulatory tussle over investor protection. So far, ETFs by BlackRock and Fidelity have attracted the most funds at nearly $500 million and $423 million, respectively, in the first two days of trading, the brokerage estimated. However, details on fund flows from issuers such as Bitwise, Franklin and VanEck are still awaited.

ARK Invest, one of the companies that filed an application for a spot Bitcoin exchange-traded fund (ETF), is again taking profits on its Coinbase shares as the stock price surges.

Crypto exchange Coinbase (COIN) shares have hit an 18-month high after rival exchange Binance and its former CEO Changpeng Zhao pleaded guilty to money laundering and sanctions violations in the United States.

Bitcoin (BTC) mining heavyweights Marathon Digital and Riot Platforms are among the most overvalued crypto mining companies relative to their competitors, says MinerMetrics founder and analyst Jaran Mellerud.

Digital asset manager Valkyrie Investments is the latest firm to amend the spot Bitcoin (BTC) exchange-traded fund (ETF) filing with the United States securities regulators.

Following the launch of Patricia token (PTK) issued to customers to manage users’ debt by Patricia, a Nigerian cryptocurrency exchange, the chief executive officer of the exchange (CEO), Fejiro Hanu, has confirmed that customers now have the option to convert their owed funds into Patricia shares.

The use of cryptocurrency by Hamas militants to fund recent attacks on Israel may have set back Coinbase’s crypto lobbying efforts in the United States, says a new investment report from Berenberg Capital Markets. 

Crypto exchange WOO has successfully recouped shares and tokens acquired by the failed hedge fund Three Arrows Capital (3AC), the exchange confirmed on Oct. 6.

In the midst of the global fintech market downturn, the crypto and blockchain sector managed to become a leader in investments in a number of major European markets. 

FTX Debtors have disclosed a series of financial statements revealing transactions that benefited company executives shortly before the major cryptocurrency exchange’s collapse in November 2022.

A United States federal appeals court has upheld a decision to dismiss an investor class action lawsuit against online brokerage firm Robinhood Markets over its meme stock trading debacle in early 2021.

The United States’ Securities and Exchange Commission (SEC) has accepted Valkyrie’s Bitcoin (BTC) exchange-traded fund (ETF) proposal for official review.

As the stock price of Coinbase (COIN) reaches a 52-week high, Ark Invest, the investment management firm led by Bitcoin (BTC) bull Cathie Wood, has recently divested more of its Coinbase shares.

Despite the Coinbase cryptocurrency exchange facing a securities violation lawsuit in the United States, the company’s stock has been on the rise recently.

The introduction of a spot-based Bitcoin (BTC) exchange-traded fund (ETF) would make the asset more accessible to individual investors and mutual funds. What’s more, unlike a futures-based Bitcoin ETF, a spot-based ETF involves actually buying BTC.