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☆ A former software engineer who's betting on leading AI stocks at a $1.6 trillion firm says pullbacks will be incredible buying opportunities, and shares 6 under-the-radar picks
▼ + stars: | 2024-02-28 | by ( Laila Maidan | ) www.businessinsider.com time to read: +5 min

Despite dashed hopes of early rate cuts, growth stocks like Nvidia continue to make new highs. "And here we are today: we've got Apple at multi-trillion dollars, Microsoft at multi-trillion dollars, Nvidia at multi-trillion dollars, and Google at over a trillion dollars." Snowflake (SNOW) helps businesses wrangle their data and build models from that data for multiple purposes, including AI. GitLab (GTLB) is an open-code platform with over a million paid users and programmers who can use AI tools to help with coding. Still, they collect customer data, and they help companies talk to their customers in a relevant and direct manner.

Persons: Jonathan Curtis, Franklin Templeton, Curtis, hadn't, ChatGPT, there's Organizations: Nvidia, Franklin Templeton Institute Global Investment Management Survey, Business, Franklin Equity Group, Apple, Microsoft, Google, Cisco, Meta, Semiconductor, Power Systems, AMD, Arista Networks

☆ When the ‘tradwife’ lifestyle leads to divorce
▼ + stars: | 2024-02-27 | by ( Taylor Nicioli | ) edition.cnn.com time to read: +12 min

Enitza Templeton of Littleton, Colorado, embodied the tradwife lifestyle for 10 years. Like any relationship, the tradwife arrangement does not always make for a happy couple with no family issues. How to live a happy ‘tradwife’ lifestyleAlexia Delarosa currently lives the traditional wife lifestyle. Delarosa currently and happily embodies the traditional lifestyle — her husband works, while she stays home with the kids. Since then, Templeton has made several videos answering questions about the tradwife life and how she left it, while her podcast focuses on advice for single mothers.

Persons: Enitza Templeton, “, ” Templeton, ”, Templeton, Tradwife influencers, Christine Borzumato, “ It’s, Suzanne Degges, White, I’m, … You’re, Gainey, —, Kelly Campbell, Campbell, influencers, Alexia Delarosa, Delarosa, ” Delarosa, that’s Organizations: CNN, Sporting, Elon University, Northern, Northern Illinois University’s, California State University, TikTok Locations: Littleton , Colorado, North Carolina, Northern Illinois, DeKalb , Illinois, San Bernardino

☆ The chief market strategist at $1.6 trillion Franklin Templeton breaks down how many rate cuts to expect this year. Plus, why the 'irrational exuberance' in stocks could be over by year-end.
▼ + stars: | 2024-02-25 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

Expect four rate cuts in 2024 that will bring the federal funds rate to 4.30% by year-end, according to the Franklin Templeton Institute Global Investment Management Survey, which compiles the views of the firm's 300 senior investment professionals who work across equities, fixed income, and alternatives. That's still more cuts than the Federal Open Market Committee projects in its dot plot: three reductions and a fed funds rate of 4.63% by year-end. Stephen Dover, chief market strategist and the head of the Franklin Templeton Institute, expects those rate cuts to begin closer to June or July and be 25 basis points each. For now, Dover pointed to a strong US economy, with solid jobs and GDP growth, as working against the possibility of earlier rate cuts. This will be another sticky point that the central bank will likely consider and could impact when cuts happen, he said.

Persons: Stephen Dover, Dover, there's Organizations: Franklin Templeton Institute Global Investment Management Survey, Federal, Franklin Templeton Institute

☆ Franklin Templeton's Sandy Kaul on the rate of flows into its EZBC bitcoin ETF
▼ + stars: | 2024-02-20 | by ( Jordan Smith | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFranklin Templeton's Sandy Kaul on the rate of flows into its EZBC bitcoin ETFCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Sandy Kaul, head of digital asset & investor advisory services, discusses the firm's EZBC spot bitcoin ETF.

Persons: Franklin, Sandy Kaul, explainers Organizations: CNBC

☆ 'There's very little margin for error': 7 strategists explain why the Goldilocks narrative is in trouble — but these 8 investments are still worth making now
▼ + stars: | 2024-02-16 | by ( James Faris | ) www.businessinsider.com time to read: +9 min

Investors are pricing in a best-case outcome where earnings rise and inflation returns to normal in a continued economic expansion. “It’s a tough needle to thread,” said Steve Sosnick, the chief strategist at Interactive Brokers. “And that pretty much pulls forward almost all the returns, in our minds, for 2024.”AdvertisementCrit Thomas, a global market strategist at Touchstone Investments, has the same concern. “And so at 21x earnings, there’s very little margin for error here.”AdvertisementFourth-quarter earnings mostly met measured expectations , as did forward guidance. Clark Bellin, the chief investment officer at Bellwether Wealth, said he’s less worried about valuations broadly and is more interested in seeing which sectors look cheap.

Persons: —, ”, Solita Marcelli, “, Sameer Samana, Steve Sosnick, It’s, Steven Wieting, “ We’ve, Crit Thomas, “ I’m, ” Thomas, We’re, Chris Galipeau, ” Galipeau, ” Sosnick, we’ve, Liz Ann Sonders, Schwab, ” Sonders, there’s, Clark Bellin, he’s, ” Bellin, you’re, Stocks, Samana, won’t, Thomas, Wieting, Bellin, “ They’ve, they’re Organizations: Service, Business, UBS Global Wealth Management, Federal Reserve, Wells, Wells Fargo Investment Institute, Interactive, Citi Global Wealth’s, Touchstone Investments, Franklin Templeton Institute, Citi Global Wealth, Bellwether Wealth Locations: Wells Fargo, Samana, ” Samana, Galipeau

☆ Investors should move money out of cash and into fixed income with some duration: Strategist
▼ + stars: | 2024-02-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors should move money out of cash and into fixed income with some duration: StrategistStephen Dover from Franklin Templeton discusses his market view, saying there is a "high concentration" of earnings expectations in a few companies, namely the Magnificent Seven in the current market environment.

Persons: Stephen Dover, Franklin Templeton

☆ This Morningstar 5-star rated high-yield fund seeks to 'stand out by not fitting in'
▼ + stars: | 2024-02-12 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

Their Corporate Credit Fund, which trades under the ticker BCAAX for retail investors, largely focuses on high-yield bonds. The fund currently holds a little over 70% in high-yield bonds, 10% in cash and about 18% in investment-grade bonds. Another inefficiency the managers exploit is the area between low investment-grade bonds and the higher-rated high-yield market, Zox said. Investment-grade portfolio managers are shying away from the lower rated end of the investment-grade market, and high-yield managers are sticking with the higher rated end of the high-yield market, he explained. "We find better values in the lower rated part of the investment-grade market than the higher rated part of the high-yield market," Zox said.

Persons: John McClain, Bill Zox, aren't, Morningstar, McClain, BCAAX, Franklin Templeton, Zox, We're, they're, Wells, it's Organizations: Brandywine Global, Credit Fund, ICE, U.S, SEC, Morningstar, Brandywine, JPMorgan, Citi, Banco Popular, Investment, — Vector, Vector Group Locations: Brandywine, Diamond, Columbus , Ohio, Puerto Rican, Wells Fargo

☆ This India ETF is beating its main rivals — and the S&P 500 — in 2024
▼ + stars: | 2024-02-11 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The WisdomTree India Earnings ETF (EPI) has a total return of 6.6% through Feb. 8, according to FactSet, and is up 18.7% over the past three months. That makes it the best performing of the five biggest India ETFs, with the iShares MSCI India ETF (INDA) and the Franklin FTSE India ETF (FLIN) both up less than 4% year to date.The WisdomTree fund is also beating The S & P 500, which up less than 5% over the same period. The WisdomTree fund has been a long-term winner as well, with an average annualized return of roughly 12% over the past decade. And, notably, the second-best performing major India ETF this year is the iShares MSCI India Small-Cap ETF (SMIN) . That is above the 0.65% of the iShares INDA ETF and the 0.19% of Franklin Templeton's FLIN.

Persons: date.The, Jeremy Schwartz, it's, It's, Schwartz, Franklin Templeton's FLIN Organizations: Franklin FTSE, CNBC, India ETF Locations: India, Franklin FTSE India

☆ McCarthy foes face blowback as primary threats grow and GOP donors shut wallets
▼ + stars: | 2024-02-11 | by ( Melanie Zanona | Manu Raju | ) edition.cnn.com time to read: +12 min

CNN —Donors no longer want to contribute to their campaigns. So we obliged her,” one House Republican told CNN. Rep. Tim Burchett of Tennessee told CNN some “very wealthy folks” shut their wallets to him in the aftermath of his vote. “If you’ve watched, just her philosophy and the flip-flopping, I don’t believe she wins reelection,” McCarthy told CNN. “We are an incumbent-driven organization and support all House Republican incumbents call,” said a spokesman for the National Republican Campaign Committee.

Persons: Kevin McCarthy, Manu Raju ”, Nancy Mace, Bob Good, Matt Rosendale, McCarthy, Mace, “ I’m, Trump, Kevin McCarthy’s, ” Mace, “, ”, Ron DeSantis, Donald Trump, Good, Mace aren’t, Tim Burchett, “ They’ve, ” Burchett, I’m, Burchett —, —, “ He’s, I’d, Andy Biggs of, Biggs, Matt Gaetz, ” Biggs, Bob, Nancy, Mike Johnson, “ McCarthy couldn’t, ” Gaetz, he’s, Gaez, Drew Angerer, Brian O, Walsh, you’ve, Catherine Templeton, John McGuire, Jeff Miller, Marjorie Taylor Greene, McGuire, Tim Sheehy, Rosendale, McCarthy’s, Mark Lamb, Eli Crane, Lamb, Crane, hasn’t, ” Crane, “ Crane, there’s, Mace —, Mace doesn’t, ” McCarthy, Tom Williams, Johnson, Greg Steele, CNN’s David Wright, Sam Fossum, Morgan Rimmer Organizations: Republicans, CNN, Capitol, GOP, Senate, Good, Main Street Caucus, Republican Governance Group, Republican, 1st Congressional District, Freedom Caucus, Florida, ”, Politico, Navy SEAL, Montana Senate, Trump’s, Burchett, Tennessee Republican, Caucus, National Republican Campaign Locations: Washington, South Carolina, Virginia, Montana, Tennessee, Andy Biggs of Arizona, Florida, Washington ,, Marjorie Taylor Greene of Georgia, Rosendale, California, Arizona, Crane, Trump’s Nevada, Las Vegas, Israel

☆ ‘Save the Whales’ was a shining success. Now can humpbacks save us from ourselves?
▼ + stars: | 2024-02-04 | by ( Bill Weir | ) edition.cnn.com time to read: +15 min

Antarctic Peninsula CNN —About 15 billion miles from where you sit, two 12-inch golden records are hurtling through outer space with multilingual greetings to the universe from 55 humans and one humpback whale. WWF's Johnson said the whales are not harmed by this -- to the whales, the dart feels like "a mosquito bite." It feels like “a mosquito bite” to the whales, Johnson said, but what they can test for is priceless: from stress hormones to toxins to — most importantly — pregnancy rates. Ten million copies were inserted into National Geographic magazine in 1979 — the largest single pressing in history — and a global movement to Save The Whales grew big enough to … save the whales. Seth Wenig/AP“I don’t think a wind turbine can kill a whale,” Friedlaender told CNN.

Persons: Anderson Cooper, Carl Sagan, ” Sagan, could’ve, “, Ari Friedlaender, Friedlaender, ”, Chris Johnson, ” Eva Prendergast, WWF's Johnson, Evelio Contreras, Bill Weir, Johnson, ” Friedlaender, Shepherd, WWF’s Johnson, Roger, Katy Payne, David Keyton, Frank Watlington, cetologist Scott McVay, Donald Trump, ” Trump, Seth Wenig, that’s, Biden, ” Johnson, Twain, CNN “, ” Brenda McCowan, Fred Sharpe, ” McCowan, ’ ” Sharpe, Natalia Botero, Acosta, ’, Maria Camila Medina Martínez, Julian Quinones, ” Carl Sagan Organizations: Antarctic Peninsula CNN, “, ” CNN CNN, University of California, International Monetary Fund, World Wildlife Fund, Ocean Endeavor, CNN, UC Santa Cruz, Shepherd Global, Norwegian Aker, United Nations, Geographic, Whales, International Whaling Commission, Atlantic, Republican, Templeton Foundation, Whale SETI, UC Davis Locations: Santa Cruz, Colombia, British, Antarctica, Norwegian, Southern, Orkney, Bermuda, Japan, Norway, Iceland, Atlantic, South Carolina, Lido Beach , New York, Davis, Alaska, Columbia, Colombian, Tribuga, United Nations, Palau, Chile, Maldives

☆ Stock market to 'nowhere?' Two ETF experts see more trouble ahead in China
▼ + stars: | 2024-01-27 | by ( Meredith Mutter | ) www.cnbc.com time to read: +1 min

ETF Action's Mike Akins sees challenges tied to the country's ability to generate stock market returns. Fool me twice, shame on me," the firm's founding partner told CNBC's ETF Edge this week. The stock market went nowhere. According to Atkins, emerging market ex-China products are among the largest inflows ETF Action is seeing. Or is it really a growth story in the economy alone and not in the actual return of the stock market?"

Persons: Mike Akins, You've, It's, Atkins, Franklin Templeton, David Mann, hesitancy, Mann Organizations: Edge, Franklin Templeton Investments, Investors Locations: China

☆ How investors are playing emerging market opportunities in India and Japan
▼ + stars: | 2024-01-24 | by ( Anna Gleason | ) www.cnbc.com time to read: +2 min

Investors are increasingly looking to emerging market exchange-traded funds for growth at a reasonable price. David Mann, head of capital markets at Franklin Templeton, named India as one of the most popular countries with ETF investors in the past year. "[It] has been one of the emerging market standouts thus far, so India has been a great story." The firm's Franklin FTSE India ETF (FLIN) has risen 18.19% in the past year, as of Tuesday's close. As of Tuesday's close, the firm's Franklin FTSE Japan ETF (FLJP) gained 12.58% in the past year.

Persons: David Mann, Franklin Templeton, CNBC's, Mike Akins, Akins, Franklin Templeton's Mann, Action's Akins Organizations: Franklin, Franklin FTSE, Reliance Industries, HDFC Bank, Infosys, Toyota Motor, Sony Group, Mitsubishi UFJ Locations: India, Franklin, Franklin FTSE India, Japan, U.S, Franklin FTSE Japan

☆ There are sectors in China that will be investible: Franklin Templeton
▼ + stars: | 2024-01-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere'll be investing opportunities in China's manufacturing, services sectors: Franklin TempletonJenny Johnson, CEO of Franklin Templeton, discusses the Chinese government's attempts to create a more consumer-driven economy and says "it's always better to swim with the current."

Persons: Franklin Templeton Jenny Johnson, Franklin Templeton, it's

☆ Here’s how to squeeze a little more juice out of these tax-advantaged yields
▼ + stars: | 2024-01-23 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

Indeed, investors get paid for taking a small step down in credit quality in the muni bond space. What's even sweeter is that municipal bond income is generally exempt from federal income tax. This also means high income investors would have to scoop up a higher yielding corporate bond to get the same tax-advantaged yield a muni bond would generate. A measured amount of risk Munis offer lower yields compared to their corporate counterparts, but they also carry significantly less risk. Lower risk, however, doesn't necessarily mean risk free.

Persons: Jennifer Johnston, Franklin Templeton, Lyle Fitterer, munis, corporates, Cooper Howard, Jonathan Mondillo, Franklin Templeton's Johnston Organizations: Federal Reserve, Franklin, AAA, muni, Strategic Municipal Bond Fund, York Life Investments, Moody's Investors Service, Charitable, Schwab Center, Financial Research Locations: muni, Abrdn

☆ Perspective: spot bitcoin uptake
▼ + stars: | 2024-01-22 | by ( Bob Pisani | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPerspective: spot bitcoin uptakeDavid Mann, Global Head of Product and Capital Markets at Franklin Templeton, and Mike Akins, ETF Action founding partner, join CNBC's Bob Pisani on 'ETF Edge' to discuss Franklin Templeton's new spot bitcoin ETF and action the new ETFs are seeing.

Persons: David Mann, Franklin Templeton, Mike Akins, Bob Pisani, Franklin Organizations: Global, Product, Markets, Franklin

☆ ETF Edge: India and Japan see big international investing inflows while investors flee China
▼ + stars: | 2024-01-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailETF Edge: India and Japan see big international investing inflows while investors flee ChinaDave Mann, global head of product and capital markets at Franklin Templeton, joins CNBC's Bob Pisani on 'Halftime Report' to discuss the opportunity investors should keep an eye on overseas.

Persons: China Dave Mann, Franklin Templeton, Bob Pisani Organizations: Franklin Locations: India, Japan, China

☆ Up & Over-seas: India & Japan
▼ + stars: | 2024-01-22 | by ( Bob Pisani | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUp & Over-seas: India & JapanDavid Mann, Global Head of Product and Capital Markets at Franklin Templeton, and Mike Akins, ETF Action founding partner, join CNBC's Bob Pisani on 'ETF Edge' to discuss why investors are flocking to Japanese and India investments.

Persons: David Mann, Franklin Templeton, Mike Akins, Bob Pisani Organizations: Global, Product, Markets, Franklin Locations: India

☆ ETF Edge, January 22, 2024
▼ + stars: | 2024-01-22 | by ( Bob Pisani | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailETF Edge, January 22, 2024David Mann, Global Head of Product and Capital Markets at Franklin Templeton, and Mike Akins, ETF Action founding partner, join CNBC's Bob Pisani on 'ETF Edge' to discuss investing overseas and take a look at the flows in bitcoin ETFs.

Persons: David Mann, Franklin Templeton, Mike Akins, Bob Pisani Organizations: Global, Product, Markets, Franklin

☆ Franklin Templeton CEO on bitcoin: Fueling the next real opportunity in the blockchain world
▼ + stars: | 2024-01-19 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFranklin Templeton CEO on bitcoin: Fueling the next real opportunity in the blockchain worldFranklin Templeton President and CEO Jenny Johnson joins 'Squawk Box' to discuss the firm's spot bitcoin ETF offering, latest market trends, the Fed's rate path outlook, and more.

Persons: Franklin Templeton, Jenny Johnson

☆ The bar for the Fed to make massive rate cuts is high, says Franklin Templeton Sonal Desai
▼ + stars: | 2024-01-19 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe bar for the Fed to make massive rate cuts is high, says Franklin Templeton Sonal DesaiBarbara Doran, BD8 Capital Partners CEO, and Sonal Desai, Franklin Templeton fixed income chief investment officer, joins 'Closing Bell Overtime' to talk a record day for the three major indices and what's ahead for the markets.

Persons: Franklin Templeton Sonal Desai Barbara Doran, Sonal Desai, Franklin Templeton Organizations: Fed, BD8 Capital Partners

☆ Watch CNBC's full interview with Franklin Templeton President and CEO Jenny Johnson
▼ + stars: | 2024-01-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Franklin Templeton President and CEO Jenny JohnsonFranklin Templeton President and CEO Jenny Johnson joins 'Squawk Box' to discuss the firm's spot bitcoin ETF offering, latest market trends, the Fed's rate path outlook, and more.

Persons: Franklin Templeton, Jenny Johnson Franklin Templeton, Jenny Johnson

DAVOS, Switzerland — Bitcoin does nothing, JPMorgan Chase CEO Jamie Dimon said Wednesday on the sidelines of the World Economic Forum. "This is the last time I'm talking about this with CNBC, so help me god," Dimon said. "I defend your right to do bitcoin," Dimon added, saying, "I don't want to tell you what to do. When asked what he made of Larry Fink changing his view on bitcoin as BlackRock jumped into the spot ETF business, Dimon said, "I don't care. "I don't know what he would say about blockchain versus currencies that do something versus bitcoin that does nothing," Dimon added.

Persons: Jamie Dimon, bitcoin, Dimon, blockchain, Smart, Franklin Templeton, Larry Fink, I'm Organizations: JPMorgan, Economic, CNBC, SEC, WisdomTree, Chartered, BlackRock Locations: DAVOS, Switzerland, Davos, BlackRock, bitcoin

☆ SEC approves bitcoin ETFs for some investment firms
▼ + stars: | 2024-01-10 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +4 min

“While we approved the listing and trading of certain spot bitcoin ETP shares today, we did not approve or endorse bitcoin. The SEC had a deadline of January 10 to offer a decision for just one of the 11 firms that applied to offer bitcoin ETFs. Bitcoin ETFs, like bitcoin, carry risks for investorsFor those considering jumping on the bitcoin bandwagon, it’s important to note that the price of a bitcoin will be just as volatile whether you invest in it directly yourself or through an ETF. Those sentiments have been echoed by many financial advisers and the investor watchdog group Better Markets, which strongly opposed the SEC’s approval of bitcoin ETFs. The full list of companies that got SEC approval to launch bitcoin ETFs are: Ark Invest together with 21 Shares; Bitwise, BlackRock, Fidelity, Franklin Templeton, Grayscale, Hashdex, Invesco, WisdomTree, Valkyrie and VanEck.

Persons: Gary Gensler, bitcoin, ”, Gensler, Dennis Kelleher, “, Sheila Warren, Franklin Templeton Organizations: New, New York CNN, Securities and Exchange Commission, SEC, FBI, Investments, Better, Street, Crypto, Innovation, Fidelity Locations: New York, BlackRock

☆ Coinbase threatened by bitcoin ETFs after almost 400% surge in stock last year
▼ + stars: | 2024-01-10 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +8 min

"We estimate Bitcoin custody and surveillance revenue will more than offset decline in Bitcoin trading volume as assets migrate to ETFs," the analysts said. "Spot bitcoin ETFs appear poised to take volume away from crypto exchanges," said Bryan Armour, director of passive strategies research for North America at Morningstar. watch nowMizuho sees the income from custody fees as fairly modest given how far investors have pushed up the stock. "They are essential infrastructure in terms of custody, trading, and surveillance for the majority of the ETF proposals," Carter said. WATCH: Former SEC Chair Jay Clayton on changes in bitcoin trading

Persons: Brian Armstrong, Michael Nagle, Coinbase, Franklin Templeton, they'll, Bernstein, bitcoin, Emilie Choi, —, Mizuho, Bryan Armour, Choi, we've, Nic Carter, Carter, Jay Clayton Organizations: Coinbase Global Inc, Bloomberg, Getty, SEC, Coinbase, BlackRock, JPMorgan, Mizuho, FactSet, Circle's U.S, CNBC, North America, Morningstar, Fidelity, Castle, Ventures Locations: New York, BlackRock, Coinbase, bitcoin

☆ Cryptocurrency investors eagerly awaiting SEC ruling on bitcoin ETFs
▼ + stars: | 2024-01-05 | by ( Bob Pisani | ) www.cnbc.com time to read: +5 min

Crypto investors are eagerly awaiting an imminent ruling from the U.S. Securities and Exchange Commission that will likely approve the trading of a spot bitcoin exchange-traded fund, more than a decade after initial attempts were rejected. 13 companies have filed for a spot bitcoin ETF:Grayscale Bitcoin TrustArk/21Shares Bitcoin TrustBitwise Bitcoin ETF TrustBlackRock Bitcoin ETF TrustVanEck Bitcoin TrustWisdomTree Bitcoin TrustValkyrie Bitcoin FundInvesco Galaxy Bitcoin ETFFidelity Wise Origin Bitcoin TrustGlobal X Bitcoin TrustHashdex Bitcoin ETFFranklin Templeton Digital Holdings TrustPando Asset Spot Bitcoin TrustHow the SEC will proceedThere are two components to the applications:1) A 19b-4 filing, which is a form used by exchanges to inform the SEC of a proposed rule change. In this case, each company filing for the spot bitcoin ETF has differences in the way the product might be structured. Invesco's Galaxy Bitcoin ETF has set its expense ratio at 59 basis points, which are waived for the initial six months and the first $5 billion in assets. Grayscale Bitcoin Trust currently charges 2% but has said it's committed to lowering the fee once its application to convert to a bitcoin ETF is approved.

Persons: Fidelity's, it's, Gary Gensler's, Gensler, Bitcoin, Coinbase, Binance, Changpeng Zhao, Zhao, Wood Organizations: U.S . Securities, Exchange Commission, BlackRock, Fidelity, Bitcoin, Franklin Templeton Digital Holdings Trust, SEC, Securities, NYSE, Nasdaq, Galaxy, U.S ., Appeals, U.S . Department of Justice, Binance

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