Bernstein analysts believe that diversification presents a significant commercial opportunity for asset managers. It allows them to enter the rapidly growing digital asset market and benefit from increased demand and market growth.
The analysts noted that the SEC may have to approve Grayscale’s ETF proposal and potentially other spot-based Bitcoin ETFs in order to maintain regulatory consistency.
China’s efforts to support and revive its property sector took a notable turn recently with a series of monetary policy adjustments to provide relief to the struggling real estate market.
Bitcoin continues to show weakness as the BTC price can move towards $24,000-25,000 as it goes to test the 200-week EMA once again.
With the Bitwise ETF application gone, the crypto community is now awaiting the SEC’s decision on the remaining applications by WisdomTree, Invesco Galaxy, Valkyrie, VanEck, and Fidelity.
With Samsung winning the position of a competitor against SK Hynix, Nvidia will have more options when it comes to chip supply and stop relying on SK Hynix as a sole provider.
Historically, the United States has relied on other countries for battery materials and components. However, a growing number of automakers and battery manufacturers are announcing plans to establish battery production facilities within the United States.
Amazon will release an application on the Shopify ecosystem to enable US-based Amazon merchants to add Buy with Prime into their Shopify Checkout.
Lululemon Athletica announced a revenue of about $2.2 billion, up approximately 18 percent compared to the same time last year.
The SEC will have an additional 45 days after the publication in the Federal Register to evaluate the suggested rule. The next decision is pending on October 17, next month.
Sebastian Siemiatkowski, Klarna’s CEO and founder, said that the firm is very hopeful for the second half of 2023, suggesting that the aggressive cost-cutting strategy in 2022 may now be yielding.
The S&P 500 gained about 3.17 percent in the past five days to trade at around 4,514.87 as of Wednesday’s close.
Additionally, UBS has announced its decision to fully integrate Credit Suisse’s domestic banking unit into its operations.
The SEC has 45 days to request a rehearing for the Grayscale’s court verdict. It can either approve the conversion of GBTC into and ETF or reject it for any other reason.
Despite reporting stronger guidance than expected by analysts, Salesforce highlighted that market uncertainty continues to pressure its future growth prospects.