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Morgan Stanley Faces Heightened Regulatory Risks Following Bitcoin ETF Offer
August 11, 2024-Former SEC Chief of Web Enforcement John Reed Stark has acknowledged that Morgan Stanley's newest transfer to introduce a wide-scale supply of Bitcoin exchange-traded funds (ETFs) to its clientele will possible lead to increased regulatory scrutiny for the American financial institution.
This growth comes amidst a number of commendations of Morgan Stanley from the crypto group in implementing what might be a big pro-adoption coverage.
Earlier this week, the Wall Avenue large introduced plans to permit 15,000 of its licensed monetary advisors to begin pitching the Bitcoin spot ETFs to shoppers. Particularly, Morgan Stanley will grant clients entry to investing in BlackRock's iShares Bitcoin Belief (IBIT) and Constancy's Smart Origin Bitcoin Fund (FBTC).
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Source: recentlyheard.com
SEC Delays Decision on Hashdex's Spot Bitcoin-Ethereum ETF, Extends Review Until September
August 10, 2024--The SEC delays Hashdex's combined spot Bitcoin-Ethereum ETF decision, new deadline in September 2024.
Hashdex Nasdaq Crypto Index US ETF offers direct exposure to Bitcoin and Ethereum, tracking the NCIUSS.
This delay follows recent developments regarding options trading for other spot Bitcoin and Ethereum ETFs.
The US Securities and Exchange Commission (SEC) has extended its review period for Hashdex's proposal for a combined spot Bitcoin and Ethereum exchange-traded fund (ETF).
If approved, the Hashdex Nasdaq Crypto Index US ETF would provide investors with direct exposure to Bitcoin (BTC) and Ethereum (ETH).
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Source: beincrypto.com
CBOE Resubmits Application for Bitcoin ETF Options as Approval Looms
August 9, 2024--Bloomberg ETF analyst James Seyffart said there is "definitely some movement on Bitcoin ETF options."
CBOE has withdrawn its original application for options on spot Bitcoin ETFs, only to resubmit a more comprehensive version almost immediately.
Following the move, Bloomberg ETF analyst James Seyffart said on X that there is "definitely some movement on Bitcoin ETF options."
Seyffart clarified that the new filing, a 44-page document, replaced the original 15-page application.
The updated filing includes more detailed information, particularly regarding position limits and concerns over market manipulation.
This suggests that the SEC may have provided feedback, leading to the enhanced application.
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Source: cryptonews.com
Brazil Becomes World's First In Approving Spot Solana ETF, Pumping $SOL Above $163
August 9, 2024--Brazil's SEC is the first worldwide to have approved a spot Solana ETF
$SOL's price broke above $163 at one point Thursday after word spread about the milestone
The US SEC is yet to approve VanEck's application for a Solana ETF
Brazil is now the world's leader in spot Solana ($SOL) exchange-traded funds (ETFs) as it became the first country to give the green light to a $SOL ETF. The news pumped the cryptocurrency's price in the last 24 hours, giving hope to the community that other crypto ETFs will soon become a reality.
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Source: ibtimes.com
JPMorgan AM introduces Fundamental Data Science ETF Suite
August 9, 2024--The JPMorgan Fundamental Data Science (FDS) Suite has been introduced by JPMorgan Asset Management (JPMAM) on the Nasdaq Stock Exchange.
$SOL's price broke above $163 at one point Thursday after word spread about the milestone
As a result, the JPMorgan Fundamental Data Science Large Core ETF (LCDS), JPMorgan Fundamental Data Science Mid Core ETF (MCDS), and JPMorgan Fundamental Data Science Small Core ETF (SCDS) are the three new active ETFs that make up The Suite, and they use data science into the building of their portfolios.
The adviser manages the funds using an effective investment strategy that combines data science to create a fundamentally selected equities portfolio.
This data science-based investment strategy is being implemented in two strategies with over $15bn in total assets under management: the JPMorgan Applied Data Science Value Fund (JPIVX) and the equity portfolio that underpins the JPMorgan Nasdaq Equity Premium Income ETF.
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Source: ibtimes.com
Goldman Sachs Launches Preferred Stock ETF For High Income
August 9, 2024--Goldman Sachs Asset Management has introduced a new preferred stock ETF-its fifth fund for 2024. The Goldman Sachs Access U.S. Preferred Stock and Hybrid Securities ETF (GPRF) began trading on August 8, according to a company press release.
GPRF aims to provide investors with high monthly income, the release said. It does so through exposure to U.S. preferred stocks and hybrid securities.
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Source: finance.yahoo.com
YieldMax Launches Option Income Strategy ETF on Alibaba (BABA)
August 8, 2024--YieldMax announced the launch today of the following ETF:
YieldMax BABA Option Income Strategy ETF (NYSE Arca: BABO)
BABO seeks to generate monthly income by pursuing options-based strategies on the ADRs of Alibaba Group Holding Limited ("BABA").
BABO is actively managed by ZEGA Financial. BABO does not invest directly in BABA or its ADRs.
BABO is the newest member of the YieldMax ETF family and like all YieldMax ETFs, aims to deliver current income to investors.
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Source: YieldMax
Defiance Launches LLYX, the First 2X Leveraged Single-Stock ETF on Eli Lilly
August 8, 2024--LLYX Targets 200% Daily Long Exposure to Eli Lilly
Defiance ETFs proudly unveils LLYX, the world's first single-stock leveraged ETF for Eli Lilly. LLYX offers retail investors 2X daily long leveraged exposure to the change in the daily share price of Eli Lilly without the need for a margin account, providing a unique tool for tactical traders.
LLYX does not invest directly in Eli Lilly and has a higher degree of risk due to tracking a single stock.
Eli Lilly and Company, established in 1876 and headquartered in Indianapolis, Indiana, is a global leader in the pharmaceutical industry, renowned for its innovative approach to medicine. Eli Lilly is particularly noted for its advancements in diabetes care, including its development of GLP-1 (Glucagon-Like Peptide-1) receptor agonists such as Trulicity (dulaglutide) and the novel dual GLP-1 and GIP agonist Tirzepatide.
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Source: wate.com
CBO-Monthly Budget Review: July 2024
August 8, 2024--Summary
The federal budget deficit was $1.5 trillion in the first 10 months of fiscal year 2024, the Congressional Budget Office estimates-$103 billion less than the deficit recorded during the same period last fiscal year. Revenues were $397 billion (or 11 percent) higher and outlays were $293 billion (or 6 percent) higher from October through July than they were during the same period in fiscal year 2023.
Shifts in the timing of certain payments affect that comparison. Outlays in the first 10 months of each fiscal year were reduced by shifts of some payments to September that otherwise would have been due on October 1, which fell on a weekend in both years. If not for those timing shifts, the deficit so far in fiscal year 2024 would have been $94 billion smaller than the shortfall for the same period in fiscal year 2023.
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Source: CBO (Congressional Budget Office)
New bond index may cut Africa debt costs
July 25, 2024--A ground-breaking effort to improve cost of credit for African borrowers, including governments, got a boost with the recent launch of the iBoxx LSF USD African Sovereigns Index, owned and managed by S&P Dow Jones Indices.
This comes in support of the Liquidity Sustainability Facility (LSF) programme, which aims to offer more transparency with daily pricing. This could save African countries some $11 billion over five years, according to the LSF. The index tracks the performance of the African sovereign eurobonds which the LSF accepts as collateral in the framework of repo transactions.
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Source: africancapitalmarketsnews.com
