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☆ Goldman's hedge fund stock list is up 30% this year. Here's what's in it
▼ + stars: | 2024-11-21 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Goldman Sachs' list of top-performing longs in hedge funds has seen outsized gains in 2024, a sign that moves made by these firms have paid off this year. The bank's so-called very important positions, or "VIP," list has climbed about 30% year to date. Goldman strategist Ben Snider noted that hedge funds shifted somewhat to cyclical industrials from defensives in the third quarter, allowing them to benefit from the postelection rally. Goldman has a running list of its very important stock picks within hedge fund long holdings. However, most analysts surveyed by LSEG rate the stock a buy or strong buy, consensus price targets suggests shares may drop more than 23%.

Persons: Goldman Sachs, Goldman, Ben Snider, Snider, Mike Tyson, Jake Paul, AppLovin, Piper Sandler, James Callahan, Eli Lilly, Donald Trump, Robert F, Kennedy, Jr Organizations: China ADR, Netflix, Department of Health, Human Services, LSEG Locations: defensives, China

Options on BlackRock's popular iShares Bitcoin Trust ETF (IBIT) began trading on the Nasdaq Tuesday, ushering in a new way to trade and speculate on the price of bitcoin. IBIT traded 73,000 options contracts in the first 60 mins of trading Tuesday, Nasdaq told CNBC, placing the fund in the top 20 of the most active nonindex options. The market for options contracts on major ETFs can be extremely active, and are widely used by more sophisticated traders. The launch of the bitcoin ETF options will likely also lead to new funds that incorporate those options, said Todd Sohn, ETF strategist at Strategas. And then we're going to get buffers, and then we're going to get whatever other trend-following-type strategy that folks think of.

Persons: IBIT, Bitcoin, Noelle Acheson, Todd Sohn, " Sohn Organizations: Nasdaq, CNBC, Interactive, Trust, BlackRock Locations: U.S

☆ BlackRock expands its tokenized money market fund to Polygon and other blockchains
▼ + stars: | 2024-11-13 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

The BlackRock logo is pictured outside the company's headquarters in the Manhattan borough of New York City on May 25, 2021. BlackRock has expanded its tokenized money market fund to include several more blockchains. The investment manager said Wednesday that its USD Institutional Digital Liquidity Fund (BUIDL) is now available to investors on the Aptos; Arbitrum; Avalanche; OP Mainnet, formerly known as Optimism; and Polygon blockchains. The BUIDL fund, which BlackRock debuted two months after iShares Bitcoin Trust, its popular bitcoin exchange-traded fund, gives investors an opportunity to earn U.S. dollar yields through a blockchain-based vehicle. The BUIDL fund is tokenized by Securitize, a company BlackRock has invested in that specializes in the tokenization of real-world assets.

Persons: iShares, Robert Mitchnick, Donald Trump's, Trump, Biden, Coinbase Organizations: Institutional, Avalanche, Ethereum, BlackRock, U.S, Metrics, U.S . Securities, Exchange Commission, SEC, Binance Locations: BlackRock, Manhattan, New York City, cryptocurrencies

☆ CNBC Daily Open: Better to stay prudent than bask in the postelection afterglow
▼ + stars: | 2024-11-12 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Separately, the estate of crypto exchange FTX sued Binance and its former CEO, Changpeng Zhao, over a "fraudulent" share deal. Some think the rally is getting ahead of itself, writes CNBC Pro's Fred Imbert. A Wall Street analyst pointed out that, according to history, one ostensibly bullish sign actually portends retreats in the near term.

Persons: FTX, Binance, Changpeng Zhao, Donald Trump, Jeremy Siegel, Siegel, Fred Imbert Organizations: CNBC, Dow Jones, NatWest, Metrics, Trust, Wharton School, University of Pennsylvania, Trump, U.S

☆ The iShares Bitcoin ETF is now bigger than its gold counterpart following rush into crypto on Trump win
▼ + stars: | 2024-11-11 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: 1 min

Blackrock iShares Bitcoin Trust ETF (IBIT) signage at the Nasdaq MarketSite in New York on Jan. 11, 2024. The rapidly growing iShares Bitcoin Trust (IBIT) has now blown past one of the biggest funds in an old-school category of investing: gold. According to FactSet, the bitcoin exchange-traded fund had roughly $34.3 billion in AUM as of Friday. That puts it above the iShares Gold Trust (IAU) , which had just under $33 billion. The asset numbers do not yet reflect the most recent crypto rally over the weekend, when bitcoin surged above $80,000.

Persons: FactSet, bitcoin, IBIT Organizations: Blackrock, Nasdaq, Trust Locations: New York

☆ ETF world buzzing about new cash flooding into funds seen winning from Trump trades
▼ + stars: | 2024-11-11 | by ( Bob Pisani | ) www.cnbc.com time to read: +7 min

"For example, during Trump's previous administration, deregulation in the energy sector boosted oil and gas stocks, benefiting energy ETFs." Aggregate Bond ETF (AGG) and Vanguard Total Bond Market Index Fund ETF (BND), two of the world's largest bond ETFs, and longer-term funds like iShares 20+ Year Treasury Bond ETF (TLT). Crypto ETFS having big year and getting bigger Since launching in January, crypto ETFs have attracted roughly $70 billion in assets, one of the most successful ETF launches ever. Bitcoin ETFs including the iShares Bitcoin Trust (IBIT), the largest bitcoin ETF by assets under management, have seen significant inflows since October. Rosenberg at Texas Capital acknowledges that certain ETF sectors, like industrials ( Vanguard Industrials Index Fund ETF , or VIS; iShares U.S. Industrials ETF , or IYJ), "could be hurt by more tariffs."

Persons: Trump, Tom Lydon, John Davi, iShares Russell, ROE, Matt Bartolini, Bartolini, Gavi, Edward Rosenberg, Gary Gensler, Michael Novogratz, Cathie Wood, Todd Sohn, Wood, Davi, Rosenberg, industrials Organizations: Astoria, CNBC, Potential Trump, Bank ETF, Assets ETF, Trump, ETF Research, Street Global Advisors, Regional Bank ETF, Treasury, Aggregate Bond, Vanguard, Fund, Treasury Bond ETF, Texas, SEC, Commodity Futures, Galaxy Digital Holdings, ARK, Innovation, ARKK, Downside, China ETF, Texas Capital, Index, Industrials, U.S, Edge Locations: Astoria, Congress, rulemaking, Coinbase, China, Mexico

☆ The trader guide to the election: Which stocks Wall Street expects to benefit under Trump or Harris
▼ + stars: | 2024-11-05 | by ( Fred Imbert | ) www.cnbc.com time to read: +10 min

Generally, a Trump win is seen as positive for financials given a higher likelihood of deregulation for companies in the space. Traditional oil and gas names are also likely to benefit under a second Trump presidency. One is made up of stocks that benefit after a Harris win; the other would outperform under a second Trump presidency. However, a Harris win is expected to keep current regulation measures in place, and possibly introduce new ones. Private equity giants KKR and Blackstone would also benefit under a Trump win.

Persons: Kamala Harris, Donald Trump, Paul Gallant, Cowen, Gallant, Harris, Goldman Sachs, Daniel Clifton, Strategas, Andrew Garthwaite, Trump, Garthwaite, TAN, we've, Biden, Wells, Ike Boruchow, Boruchow, —, Russell, Joe Biden, Morgan Stanley, Crypto, isn't, Nic Puckrin, bitcoin, Marcelli, Financials, Wolfe, Chris Senyek, Lazard Organizations: Congress, U.S ., Trump, U.S . Trump, GOP, Democratic, CNBC Pro, Wall, Strategas, Enterprise, of America, Ford, UBS, Apple, Enphase Energy, Technologies Enphase, Exxon Mobil, Chevron, Trump Media & Technology, Trump Media, Cadence Bank, Viking Therapeutics, Bureau, CNBC, Wolfe Research, Lazard, Private, KKR, Blackstone, Evercore Locations: Washington, of America Cleveland, Cleveland, China

☆ Bitcoin's November rally could be held up by election volatility
▼ + stars: | 2024-11-03 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

"What's driving price action is undoubtedly the election," Nic Puckrin, CEO and co-founder at crypto education site Coin Bureau, said of the November outlook. BTC.CM= YTD mountain Bitcoin YTD Republican nominee former President Donald Trump has courted the crypto industry this year, presenting himself as the pro-crypto candidate . October and November are historically strong months for bitcoin, finishing higher in seven of the past 11 Novembers. "Volatility has decreased for both gold and bitcoin as traders look forward to the [election] results, although both assets have benefited from positive underlying fundamentals incrementally driving the price up." "The main danger we foresee would be temporary angst around election results affecting sentiment and holding back further development of the ecosystem," Chung added.

Persons: Bitcoin, cryptocurrency, Kamala Harris –, Nic Puckrin, Trump, bitcoin, Donald Trump, Harris, Devin Ryan, there's, Needham's John Todaro, Chris Chung, Chung, Michael Bloom Organizations: Republican, Democratic, Citizens, Trump, bitcoin, JPMorgan, BTC, Solana Locations: Washington, U.S

☆ Investors load up on bonds and bitcoin ahead of the U.S. presidential election
▼ + stars: | 2024-11-01 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Investors have been heavily buying two very different categories of assets ahead of next week's election: bonds and bitcoin . Bank of America credit strategist Yuri Seliger highlighted a shift toward bond buying among fund investors over the past week. A look at the list of most popular ETFs on FactSet over the past week shows that the demand for bonds has been broad across categories. Funds for investment grade corporate bonds, municipal bonds, mortgage backed securities, long-term Treasury bonds and high yield bonds are all in the top 20 funds by inflows over the past week. The iShares Bitcoin Trust ETF (IBIT) has raked in more than $2 billion of inflows over the past week, according to FactSet.

Persons: Yuri Seliger, Seliger, outflows Organizations: Bank of, HG, HY, Bank of America, —, JPMorgan

☆ Goldman Sachs jumps into bitcoin ETFs and one hedge fund gets bullish on miners
▼ + stars: | 2024-08-15 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +3 min

Goldman Sachs went big in the quarter, while rival Morgan Stanley trimmed its crypto holdings. In the period from March through June, Goldman Sachs made its debut in the crypto ETF market, purchasing $418 million worth of bitcoin funds. Up to this point, wealth management businesses have only facilitated trades if customers requested exposure to the new spot crypto funds. The vast majority of the bank's spot bitcoin holdings are now through the iShares trust. HSBC has nearly $3.6 million worth of spot bitcoin holdings, all from the fund issued by Ark 21Shares, UBS has around $300,000 worth of spot bitcoin ETF holdings, and Bank of America has collective holdings of around $5.3 million, mostly from BlackRock and Fidelity.

Persons: Goldman Sachs, Morgan Stanley, Morgan, JP Morgan, Ark 21Shares Organizations: SEC, Wall, JPMorgan, Securities and Exchange Commission, Fidelity, BlackRock, HSBC, UBS, Bank of America Locations: BlackRock's, Grayscale's, BlackRock

☆ Morgan Stanley tells wealth advisors they can pitch bitcoin ETFs in a first for a big bank
▼ + stars: | 2024-08-02 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

Morgan Stanley on Friday told its army of financial advisors that it will soon allow them to offer bitcoin ETFs to some clients, a first among major Wall Street banks, CNBC has learned. The firm's 15,000 or so financial advisors can solicit eligible clients to purchase shares of two exchange-traded bitcoin funds starting Wednesday, according to people with knowledge of the policy. Those funds are BlackRock's iShares Bitcoin Trust and Fidelity's Wise Origin Bitcoin Fund, the people said. The move from Morgan Stanley, one of the world's largest wealth management firms, is the latest sign of the adoption of bitcoin by mainstream finance. In January, the U.S. Securities and Exchange Commission approved applications for 11 spot bitcoin ETFs, heralding the arrival of an investment vehicle for bitcoin that is easier to access, cheaper to own and more readily traded.

Persons: Morgan Stanley, Fidelity's, Jamie Dimon, Warren Buffett, it's, Goldman Sachs, Wells, spokespeople Organizations: CNBC, Bitcoin, U.S . Securities, Exchange Commission, JPMorgan Chase, Berkshire Hathaway, JPMorgan, Bank of America

☆ Grayscale's $9 billion head start in ethereum is at risk as big investors launch ETFs
▼ + stars: | 2024-07-24 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +4 min

With the SEC clearing the path for ETFs, Grayscale will have a boatload of rivals, and investors can go hunting for the lowest fees. Large financial firms, including Fidelity Investments, Franklin Templeton, BlackRock and Invesco, are already on the market with their own spot ether ETFs. In their first day of trading on Tuesday, spot ether ETFs collectively saw over $1 billion in volume, with JPMorgan analysts estimating net sales of $104 million. While money poured into the new offerings, the Grayscale Ethereum Trust (ETHE) saw redemptions of $485 million. watch nowIn the bitcoin ETF market, Grayscale has been struggling to handle the flood of competition.

Persons: Jakub Porzycki, Barry Silbert's, Franklin Templeton, Morningstar's Bryan Armour, Grayscale's David LaValle, LaValle Organizations: Nurphoto, U.S, Digital Currency Group, SEC, Fidelity Investments, BlackRock, JPMorgan, CNBC Locations: Invesco, U.S

☆ Ether ETFs launch may pale in comparison to debut of bitcoin funds, investors say
▼ + stars: | 2024-07-23 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Tuesday's debut of exchange-traded funds that hold ether is widely seen as a significant event for the crypto industry, although it may not see the success or fanfare that bitcoin ETFs did earlier this year. The ether ETFs come about six months after the launch of bitcoin ETFs , which saw some of the most successful debuts in the industry's history. And so the question is how much impact on price is really going to have?" Mike Novogratz, CEO of Galaxy Digital, whose Invesco Galaxy Ethereum ETF (QETH) began trading Tuesday, agreed ether ETF flows could be small compared to bitcoin funds'. "We think it'll be about 20% as many flows [that] will go into the ether ETF in the first six months that went into bitcoin [ETFs]," he said in a separate "Squawk Box" interview.

Persons: Anthony Pompliano, CNBC's, We've, Pompliano, Mike Novogratz, —, Jesse Pound Organizations: Professional Capital Management, Galaxy Digital, Ethereum

☆ Ether ETFs appear set to launch on Tuesday, six months after massive debut for bitcoin funds
▼ + stars: | 2024-07-22 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The U.S. Securities and Exchange Commission appears to have given the green light for exchange-traded funds that hold ether , the world's second-largest cryptocurrency. It approved rule changes for exchanges to list ether funds in May. Some of the companies that have been vying to launch ether funds include massive asset managers such as BlackRock, Fidelity and VanEck. The ether ETFs come about six months after the launch of bitcoin ETFs, which saw some of the most successful debuts in the industry's history. The ether funds are not expected to be as popular as the bitcoin funds, in part because the total market for ether is roughly one-fourth the size of the leading cryptocurrencies.

Persons: Matt Hougan, doesn't, Hougan Organizations: U.S . Securities, Exchange Commission, SEC, Fidelity, VanEck, Trust, ETF, Bitwise Locations: BlackRock, U.S

☆ BlackRock's Larry Fink says he's a 'major believer' in bitcoin, is worried about government deficits
▼ + stars: | 2024-07-15 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

BlackRock CEO Larry Fink told CNBC's " Squawk on the Street " that he sees a future for bitcoin after previously being a " proud skeptic " of the cryptocurrency. "I'm a major believer that there's a role for bitcoin in portfolios," Fink said Monday, calling it "digital gold." The firm's iShares Bitcoin Trust (IBIT) has raked in more than $18 billion since its launch in January, making it the biggest bitcoin exchange-traded fund. Fink said political risk and rising government debt are some of the reasons for investors to own bitcoin. Fink said even outside of bitcoin, he sees rising public spending as one of the biggest issues facing the world.

Persons: Bitcoin, Larry Fink, CNBC's, Fink, I'm, bitcoin Organizations: BlackRock, bitcoin, Nasdaq Locations: lockstep, bitcoin

☆ Bitcoin is holding support and ready to make another run at a record, according to the charts
▼ + stars: | 2024-07-09 | by ( Todd Gordon | ) www.cnbc.com time to read: +4 min

That pullback has materialized and according to our Elliott Wave analysis of the bitcoin chart, support has possibly been formed in the zone of $59k - $49k. Looking at the 3-chart overlay below you'll find bitcoin, gold, and US 10-year yields since 2020. First is that gold and Bitcoin (blue and orange) have a very close positive correlation. Pulling it all together higher rates have a negative impact on all three; bitcoin, gold, and the stock market, which are all showing a positive relationship in recent months. In summary, being very bullish on the stock market, I would like to see bitcoin and gold move higher along with lower US yields.

Persons: Bitcoin, Elliott, Todd Gordon, Gordon, IBIT Organizations: Tactical Alpha, Edge, Inside Edge, CNBC, NBC UNIVERSAL Locations: bitcoin

The next round of filings for spot ether ETFs with the SEC is due today, part of the ongoing regulatory process required before spot ether ETFs can be launched. One thing's for sure: the launch of spot bitcoin ETFs this year has been a success. That's still true for this year, but two of the top 10 ETF inflows year to date have been into spot bitcoin ETFs: iShares Bitcoin Trust (IBIT) at number four, and Fidelity Wise Origin Bitcoin Trust (FBTC) at number eight. Would 50% of the inflows of the spot bitcoin ETF be a win? We'll talk about this with Matt Hougan from Bitwise Asset Management, one of the applicants for a spot ether ETF.

Persons: That's, iShares, Matt Hougan, Matt, Nate Geraci Organizations: SEC, Nasdaq, Fidelity, Bitcoin, Stock, Aggregate, Blackrock US, Bitwise Asset Management, Edge

☆ Advisors ‘wary’ of bitcoin ETFs are on a slow adoption journey, says BlackRock exec
▼ + stars: | 2024-06-16 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

The long-awaited bitcoin exchange traded funds launched in January, and financial advisors are on their way – though gradually – toward adopting them, according to BlackRock's Samara Cohen. The iShares Bitcoin Trust (IBIT) was among the funds to debut earlier this year. Responses ranged from bitcoin's notorious price volatility to the flagship cryptocurrency being too nascent to have established a significant track record. "I would call them wary … that's their job," Cohen said of the skeptical financial advisors. "This is an asset class that has had 90% price volatility at times in history, and their job is really to construct portfolios and do the risk analysis and due diligence.

Persons: BlackRock's Samara Cohen, Cohen, … Organizations: Crypto, CNBC, Council Locations: Coinbase State, New York City

☆ Bitcoin ETFs aren’t winning the hearts and minds of financial advisors
▼ + stars: | 2024-05-31 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

In this article BTC.CM= Follow your favorite stocks CREATE FREE ACCOUNTOmer Taha Cetin | Anadolu | Getty ImagesA major thesis around bitcoin ETFs was that financial advisors needed regulated funds like them to direct their wealthy clients to invest in bitcoin. For one, bitcoin ETFs have been hailed as the most successful ETF launches in history, with BlackRock's iShares Bitcoin Trust (IBIT) reaching $20 billion in assets under management this week, even with advisors sitting out. CNBC spoke with a dozen members of CNBC's Advisor Council, which includes Baker, to learn why so many financial planners are still down on bitcoin and bitcoin ETFs, and what could cause them to change their tune. Many hope consistent flows into bitcoin ETFs over the years can lower that volatility, but for now, it's still a deterrent for some. "Financial advisors now have a way to give clients access [to bitcoin] that's safe, reliable and regulated," said Bradley Klontz, managing principal of YMW Advisors in Boulder, Colorado.

Persons: Omer Taha Cetin, BlackRock's, I'm, Lee Baker, Baker, Ted Jenkin, —, they're, It's, it's, Bradley Klontz, Cathy Curtis, bitcoin Organizations: Anadolu, Getty, Apex Financial Services, CNBC, YMW Advisors, Partners, Curtis Financial Locations: bitcoin, Atlanta, Boulder , Colorado, Oakland , California

☆ The state of Wisconsin purchased $163 million in bitcoin ETFs in the first quarter
▼ + stars: | 2024-05-15 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

The state of Wisconsin has purchased about $163 million worth of bitcoin, according to 13F filings. The state of Wisconsin Investment Board purchased bitcoin ETFs from BlackRock and Grayscale in the first quarter. The Wisconsin Investment Board manages state's pension which is worth more than $150 billion. AdvertisementThe state of Wisconsin purchased $163 million worth of bitcoin in the first quarter, according to a 13F filing made with the Securities and Exchange Commission. Advertisement"Wow, a state pension bought $IBIT in the first quarter.

Persons: —, Eric Balchunas, Balchunas, Bitcoin Organizations: Wisconsin Investment, Service, Securities and Exchange Commission, The Wisconsin Investment Board, Bloomberg Intelligence Locations: Wisconsin, BlackRock, Virginia, Fairfax County

☆ Investors are focused 'overwhelmingly' on bitcoin over other cryptocurrencies, BlackRock says
▼ + stars: | 2024-03-29 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

BlackRock's push into crypto has been expeditious, but it may be hitting the brakes after bitcoin and ether. But Robert Mitchnick, BlackRock's head of digital assets, shut that possibility down at the Bitcoin Investor Day conference last week. He pointed out that bitcoin and ether make up the majority of the crypto market cap – bitcoin at 52% and ether at 16%, according to CoinMarketCap. In addition to bitcoin and ether ETFs, BlackRock is also exploring digital assets through tokenization efforts. "And we have clients who are comfortable and fluent on blockchain infrastructure, interacting with digital assets.

Persons: That's, Robert Mitchnick, Mitchnick, that's, we're, … IBIT, bitcoin, Wall, Larry Fink, CNBC's, it's Organizations: BlackRock, U.S, – Locations: BlackRock

☆ BlackRock says bitcoin returns likely to come down now that it has been embraced by Wall Street
▼ + stars: | 2024-03-26 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

If you're looking for your bitcoin to go to the moon, the window of opportunity may be slowly closing, according to BlackRock. "Certainly, returns going forward will come down," he said at the Bitcoin Investor Day conference in New York City Friday. That demand was "massive and clear" in 2023, when BlackRock filed to launch its iShares Bitcoin Trust. "I don't think we've seen the end of cycles in bitcoin," Mitchnick said. "[With] bitcoin, when the price goes up, the probabilities of success and adoption in some senses, as digital gold, are also changing," he said.

Persons: Robert Mitchnick, It's, –, Mitchnick, CNBC's Ganesh Rao Organizations: BlackRock Locations: BlackRock, New York, @GC

☆ Blackrock says bitcoin will be a good portfolio diversifier despite its recent rally with stocks
▼ + stars: | 2024-03-25 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Bitcoin is more like digital gold than a so-called "risk-on" asset, according to Robert Mitchnick, BlackRock's digital assets lead. For years, bitcoin's ability to behave in different ways at different times has stumped investors . "Historically bitcoin's long-term average correlation [to stocks] has been close to zero – slightly positive, but close to zero," he said. While the recent rally was spurred by the launch of U.S. bitcoin ETFs, some on Wall Street have suggested that it may have recently fused into the more macroeconomic-fueled gold rally . Risk and portfolio construction That, understandably, adds confusion for newcomers to bitcoin investing, who are drawn to its digital gold-like qualities.

Persons: Robert Mitchnick, BlackRock's, bitcoin, It's, Bitcoin, bitcoin rocketed, Mitchnick Organizations: New York City, Fed, BlackRock Locations: New York

☆ Bitcoin to rally to $150,000 this year and could touch $250,000 in 2025, Standard Chartered says
▼ + stars: | 2024-03-18 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The excitement around the arrival of bitcoin ETFs and the subsequent surge to new highs for the cryptocurrency is making even bitcoin bulls raise their expectations. "We raise our long-held price estimate to the USD 150,000 level from USD 100,000 given the more rapid pass-through from ETF inflows to the BTC price to date," the note said. The new bitcoin ETFs have pulled in billions of dollars from investors since their January launch, even with the Grayscale Bitcoin Trust seeing heavy outflows. The iShares Bitcoin Trust (IBIT) has raked in more than $12 billion on its own, according to FactSet. The quick growth of the bitcoin ETFs has boosted confidence that there are more investors interested in crypto who have been reluctant to buy it through crypto exchanges.

Persons: Geoff Kendrick, Kendrick Organizations: BTC, Metrics, bitcoin Locations: Bitcoin

(This is CNBC Pro's live coverage of Tuesday's analyst calls and Wall Street chatter. An online car seller and a crypto trading platform were in focus on Tuesday's analyst chatter. Carvana shares are up more than 47% this year, soaring after the company topped fourth-quarter profit estimates. Until ETP flows taper and/or reverse, we suspect the stock's current momentum may persist," analyst Patrick O'Shaughnessy wrote. COIN YTD mountain COIN year to date Coinbase shares received a boost from the ETF excitement, rising more than 40% year to date, as bitcoin climbs to record highs .

Persons: Coinbase, Raymond James ., Jason Bazinet, Bazinet, — Pia Singh, Jefferies, Carvana, John Colantuoni, Carvana hasn't, Raymond James, Patrick O'Shaughnessy, ETP, O'Shaughnessy, — Fred Imbert Organizations: CNBC, underperform, Jefferies, Citi, New York Times, Citi Research, Bazinet , New York Times Locations: Bazinet ,, underperform, Monday's

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