Bitcoin and other cryptocurrencies were rising early on Monday but the sector still faces headwinds going into the second half of the year. Bitcoin was up 4.1% over the last 24 hours to $63,311. That means the largest cryptocurrency has largely recouped the losses that came after last week’s news that the trustee of Mt. Gox,
Bitcoin and other cryptocurrencies were rising early Friday. Solana was the standout gainer, after the first U.S. application was filed for a spot exchange-traded fund tied to the cryptocurrency. Bitcoin was up 1.3% over the past 24 hours to $61,519. The largest cryptocurrency has fallen from levels of around $64,000 after news on Monday that
While the media and sell-side analysts are preoccupied with Nvidia , Microsoft and Apple jockeying for the top market cap, the smart money’s been selling tech and internet stocks. That’s what Goldman Sachs reports, in the latest readout from the prime services unit that caters to the broker’s hedge fund clients. The June report from
The world’s largest hedge fund recently loaded up on shares of some members of the Magnificent Seven tech stocks, and halved an investment in a Chinese maker of electric vehicles. Bridgewater Associates made a big bet on Apple stock, more than doubled its stake in Nvidia shares, tripled an investment in Microsoft stock, and cut
Coinbase Global stock fell on Thursday in the face of recent gains in Bitcoin prices, which tend to lead shares of the cryptocurrency broker higher. Investors may be eyeing the prospect of tough new competition in U.S. crypto trading. CME Group , the Chicago-based trading firm, plans to launch spot Bitcoin trading amid interest from
Imagine getting paid $30 million a year for clicking a mouse a few times a day. Your job is to buy a single virtual asset for an exchange-traded product—or ETP—that is similar to but not exactly like an exchange-traded fund. Call it the Steepcoin ETP. It charges a 1.50% expense ratio. You click a mouse
After a brief bounceback in 2023, Cathie Wood’s exchange-traded funds continued to suffer this year. Investors are losing their patience. So far this year, investors have pulled $2.2 billion out of the six actively managed ARK ETFs, more than the asset outflows the funds have seen for the entire 2022 and 2023 combined. That’s left
One of the first sovereign-wealth funds, and the largest at the state level in the U.S., just made a big bet on groceries as inflation continues to pressure American consumers. Alaska Permanent Fund tripled its investments in shares of Walmart and Kroger —the respective No. 1 and No. 2 players in terms of their share
The initial public offering market is showing signs of life again. And the optimism following the strong debuts for Reddit and AI cloud infrastructure company Astera Labs appears to be spreading. Case in point: A closed-end fund that invests in Elon Musk’s SpaceX, Fortnite maker Epic Games, OpenAI, fintech giants Stripe and Chime and other
Greg Guyett oversees a broad range of businesses as the chief executive of HSBC’s global banking and markets unit, a role he took on in October 2022, just before rivals started making deep job cuts. But he’s looking to grow most of these businesses including investment banking, securities services and transaction banking, he told Financial News in a wide-ranging interview.