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☆ New ETFs give income investors different ways to play volatile bond yields in the second half
▼ + stars: | 2023-07-07 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +4 min

The Pimco Multisector Bond Active ETF (PYLD) launched in June, giving investors a way to follow one of the biggest names in fixed income during the volatile bond market. As the fixed income ETF market matures, major asset managers are trying their hand at multisector bond funds. Recent launches include Capital Group's U.S. Multisector Income ETF (CGMS) and BlackRock's Flexible Income ETF (BINC) , which is co-managed by Rick Rieder , the firm's chief investment officer for global fixed income. For financial advisors or investors who want to make investment decisions themselves, there are more targeted bond funds available. "There's a pretty long runway for investors to increase their allocation to fixed income.

Persons: Rick Rieder, Dan Ivascyn, Sonali Pier, D.J, Tierney, you've, Schwab, Schwab's Tierney Organizations: Treasury, Capital, Multisector, Pimco, CNBC, Schwab Asset Management, Fed Locations: Capital Group's, U.S, iShares

☆ Refile and wait? Pulse check on the quest for a spot bitcoin ETF
▼ + stars: | 2023-07-07 | by ( Kevin Schmidt | ) www.cnbc.com time to read: +3 min

But the regulator still found the filings to lack clarity and comprehension, prompting BlackRock to refile last week. BlackRock first filed its application to launch the iShares Bitcoin Trust last month, with Fidelity following suit two weeks later. "However, if [the SEC] is trying to manufacture a way to approve a bitcoin ETF, this would be the way to do it. The filings come amid an ongoing legal battle between Grayscale and the SEC about converting its Grayscale Bitcoin Trust (GBTC) into an ETF. "But certainly, things look more positive than they did maybe three weeks ago, six weeks ago."

Persons: Dave Nadig, Bob Pisani, BlackRock, Nadig, Coinbase, they've Organizations: Fidelity, BlackRock, U.S . Securities, Exchange Commission, Coinbase, SEC Locations: CNBC's, refile

☆ Some investors are shunning Wall Street’s tech frenzy
▼ + stars: | 2023-07-07 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

CNN —While many on Wall Street have chased the monster rally in mega-cap tech stocks this year, exchange-traded fund (ETF) investors seem to be bucking the “all-in on tech stocks” trend and opting for a more diversified strategy. The Nasdaq Composite index has climbed about 31% for the year, powered by a handful of tech stocks that have soared on hype surrounding artificial intelligence. The Vanguard Information Technology Index Fund saw $955 million of net outflows in the first half of 2023 compared to $291 million net inflows in the first half of last year. Investors had piled into tech-focused ETFs last year when the sector had fallen out of favor, betting that tech stocks would recover, buoyed by an economy that remains resilient despite the Federal Reserve’s punishing pace of interest rate hikes. Now, investors are exiting these ETFs and reallocating their cash to quality stocks with strong balance sheets that can withstand a potential economic downturn, says Todd Rosenbluth, head of research at VettaFi.

Persons: Todd Rosenbluth, ”, Shelby McFaddin, Larry Fink, Bitcoin, ” Fink, Antoni Trenchev, Charles Schwab, Clare Duffy, paring, Elon Musk, it’s, Read Organizations: CNN Business, Bell, CNN, Vanguard Information Technology, Investors, “, Wealth, BlackRock, Fox Business, Federal Reserve, Fidelity Digital Assets, Citadel Securities, Facebook, Twitter, Meta

☆ June inflation data will be closely watched by investors in the week ahead
▼ + stars: | 2023-07-07 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

Investors are turning their attention to inflation data in the week ahead, following this week's hot jobs data, to further clarify the path of future monetary policy. Market participants are hoping next week's release of the June consumer price index on Wednesday, as well as last month's producer price index on Thursday, will show a downward trajectory in inflation after this week's strong ADP data spurred investor fears of further rate hikes ahead. Broadly speaking, investors are pricing in another quarter point rate hike at the July meeting. Of note, stocks tumbled Thursday after hotter-than-expected ADP data suggested the Federal Reserve has further to go in its tightening campaign. FactSet data shows analysts expect S & P 500 earnings fell 7% in the second quarter against the same quarter a year ago.

Persons: James Ragan, Davidson, Hogan, Rhys Williams, Williams, you've, Davidson's Ragan, Citigroup startegists, Wells, UnitedHealth, Michael Barr Organizations: Traders, Federal Reserve, Riley, Dow Jones Industrial, Treasury, Asset Management, JPMorgan, Citigroup, JPMorgan Chase, BlackRock, Dow, PepsiCo, Delta Air, Conagra, Delta Air Lines, Fastenal Locations: Wells Fargo, Cintas, UnitedHealth

☆ Wall St Week Ahead As earnings loom, investors weigh recession resilience
▼ + stars: | 2023-07-07 | by ( David Randall | ) www.reuters.com time to read: +5 min

The financials sector is down 2%, while energy is nearly 9% lower. These unloved sectors are growing attractive to investors increasingly torn over whether a long-feared U.S. recession will ever materialize. Quincy Krosby, chief global strategist for LPL Financial noted a "tug of war" in the market over the likelihood of a recession. The healthcare sector trades at a forward price-to-earnings ratio of 17.6, well below the 20.1 ratio of the broad S&P 500. Yet a continued rally in megacaps will likely stretch their valuations further, prompting some investors to rotate toward healthcare and financials, LPL Financial's Krosby said.

Persons: Goldman Sachs, Quincy Krosby, Sameer Samana, Max Wasserman, Financials, Tom Ognar, Morgan Stanley, John Quealy, Financial's Krosby, David Randall, Megan Davies, Michelle Price, Richard Chang Organizations: YORK, Global, BofA, Commerce Department, LPL Financial, Reserve, Wells, Wells Fargo Investment Institute, FINANCIALS, Miramar Capital, Abbott Laboratories, Allspring Global Investments, LPL Financial Holdings Inc, Trillium Asset Management, Russell, Thomson Locations: U.S, BlackRock, Wells Fargo, megacaps

☆ More than $120 million of a crypto firm's assets were moved to an unknown address - weeks after its CEO disappeared, report says
▼ + stars: | 2023-07-07 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

More than $120 million of a crypto firm's assets were "abnormally" moved to an unknown address, Bloomberg reported. "The lockup assets on the Multichain MPC address have been moved to an unknown address abnormally. "More than 120M assets were transferred from Multichain: Fantom Bridge and Multichain: Moonriver Bridge and are now distributed across 6 addresses. In a separate event, Binance, the world's largest crypto exchange, experienced a $100 million worth crypto hack last October after an exploit on a cross-chain bridge. Crypto investing clearly has its risks and drawbacks, but there are upsides to digital assets including potentially hefty returns.

Persons: —, Multichain, –, Zhaojun, Bitcoin Organizations: Bloomberg, Service, MPC, Twitter, ICE, BlackRock Locations: Multichain, Fantom, Moonriver

☆ CNBC Daily Open: Jobs, jobs and more jobs
▼ + stars: | 2023-07-07 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Half a million jobsU.S. private sector companies added 497,000 jobs in June, according to payroll processing firm ADP. The ADP jobs report doesn't necessarily give a good estimate of the Department of Labor's jobs report. Worst days and lowest levelsU.S. stocks fell Thursday as traders grew concerned over what the scorching hot ADP jobs report means for interest rates.

Persons: Dow Jones, Janet Yellen, Yellen, Bitcoin Bitcoin, Larry Fink, Deutsche Bank's Maximilian Uleer Organizations: CNBC, Department, Treasury, U.S ., Treasury Department, BlackRock, Deutsche Bank's Locations: Yellen, China U.S, Beijing, China, U.S, BlackRock

☆ Bitcoin touches a 13-month high on BlackRock CEO comments, growing ETF optimism
▼ + stars: | 2023-07-06 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

A pile of Bitcoins are shown here after Software engineer Mike Caldwell minted them in his shop in Sandy, Utah. The price of bitcoin touched a 13-month high on Thursday as optimism grew among investors that the U.S. could soon get a bitcoin ETF. Earlier in the morning, it climbed to about $31,450, reaching its highest level since June 2022. Sentiment among traders was high though, after BlackRock CEO Larry Fink said his firm plans to make it easier, and less costly, to invest in bitcoin. Bitcoin has steadily climbed since June 15, when BlackRock filed to launch a spot bitcoin ETF.

Persons: Mike Caldwell, Bitcoin, Larry Fink, Fink, Michael Sonnenshein, Sonnenshein Organizations: Metrics, Treasury, BlackRock, Fox Business Locations: Sandy , Utah, U.S

☆ European software startup investor Notion Capital has raised $327 million for fifth and largest fund to date
▼ + stars: | 2023-07-06 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

London-based Notion Capital has raised its fifth and largest fund to date. The software-as-a-service investor has brought in $327 million from new and existing LPs. Notion has backed companies like fintech unicorn GoCardless and Currencycloud. London-based investor Notion Capital has raised 300 million euros (around $327 million) for its fifth fund. The fund focuses on software-as-a-service and fintech companies in the UK and Europe with its latest fund domiciled in Luxembourg and denominated in euros.

Persons: GoCardless, Stephen Chandler, we're, didn't, Chandler, Itxaso del Palacio, Stephanie Opdam, Kamil Mieczakowski Organizations: BlackRock, Visa, Tiger Global, Patient Capital, Novo Holdings, Cortes Capital, KfW, Itxaso Locations: Currencycloud, London, Europe, Luxembourg, Shelby County Tennessee, Upvest, Germany

☆ Bitcoin hits 13-month high
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: 1 min

LONDON, July 6 (Reuters) - Bitcoin hit its highest level in 13 months on Thursday rising as much as 3.28% to $31,500. The world's largest cryptocurrency has recently found support due to plans by fund managers, including BlackRock - the world's largest asset manager - to launch a U.S.-listed spot bitcoin exchange-traded fund (ETF). Nasdaq refiled its application to list BlackRocks's ETF according to a filing made public on Monday after the U.S. securities regulator had reportedly raised concerns over initial filings. Reporting by Samuel Indyk, editing by Alun JohnOur Standards: The Thomson Reuters Trust Principles.

Persons: Samuel Indyk, Alun John Organizations: BlackRock, Nasdaq, Thomson Locations: U.S

☆ Lazard, facing a dealmaking drought, is on a mission to boost its money management business. It won't be easy.
▼ + stars: | 2023-07-06 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +11 min

The group extends guidance on geopolitical matters to clients as well as colleagues, like the asset management arm's sprawling salesforce. The firm is making a series of changes to ramp up its asset management business. Lazard has had an asset management business for decades, but it's a business that's finding new relevance on Wall Street. Incoming Lazard CEO Peter Orszag, pictured here in May, has made improving the asset management business a priority. "When it comes to the asset management business, the picture is probably more blurry," said Richard Bruyère, managing partner of the Paris-based asset management advisory firm Indefi.

Persons: Lazard, Evan Russo, Yevgeny Prigozhin, Peter Orszag, Barack Obama, Bill Clinton, it's, Russo, Orszag, Ray McGuire, Jennifer Ryan, Goldman Sachs, Brennan Hawken, Richard Bruyère, Bruyère, Ryan, Hartley, Morgan Stanley, Janus Henderson, Ashmore, Devin Ryan, AllianceBernstein, Larry Cohen, " Russo, Peter Organizations: Lazard, BlackRock, Citi, New York, North, Incoming Lazard, REUTERS, UBS, Investors, Firms, Virtus, Liontrust, Bank's JMP Securities Locations: Russia, New York, Washington, North America, Paris, Taft, Asia

☆ Binance market share takes regulatory hit, its US affiliate shrinks
▼ + stars: | 2023-07-05 | by ( Medha Singh | ) www.reuters.com time to read: +1 min

July 5 (Reuters) - The market share of Binance, the world's largest cryptocurrency exchange, and its U.S. affiliate have shrank this year, as they battle an onslaught of regulatory crackdowns. Last month, Binance was hit by a lawsuit by the U.S. Securities and Exchange Commission for allegedly breaching the regulator's rules, pushing its global market share to 52% from 60% at the start of the year, according to data firm Kaiko. Binance had begun to cede market share in March after its move to end zero-fees transactions for some trading pairs, said Dessislava Aubert, an analyst at Kaiko. "Binance's market share has gone to a variety of exchanges with Bybit and OKX faring best," Aubert said. Crypto companies dispute that crypto tokens are securities and have repeatedly called for the SEC to create clear rules.

Persons: Binance, Dessislava Aubert, " Aubert, Binance.US, Aubert, Kaiko, bitcoin, Medha Singh, Maju Samuel Organizations: U.S, U.S . Securities, Exchange Commission, SEC, Fidelity, BlackRock, Thomson Locations: U.S, Bengaluru

The research arm of BlackRock, the world's biggest asset manager, shifted its view on Japanese equities to neutral from underweight. "We are looking for more evidence of corporate reform to support the enthusiasm for its equity markets that has gripped foreign investors so far this year," wrote analysts at BlackRock Investment Institute, in its mid-year outlook report last week. "It's not the case that we've already seen the completion of offshore investors' quite aggressive investment in Japan equity markets," said Nomura's chief equity strategist for Japan, Yunosuke Ikeda. "Now, a lot of asset owners have decided just not to invest in China any more, and that's made Japan the top dog in Asia." Many analysts and investors, though, consider the declines a healthy and necessary retracement before the next leg higher, with 35,000 often touted as a target for this year as slower-moving foreign investors start to buy in size.

Persons: Nomura, It's, Yunosuke Ikeda, Archie Ciganer, Rowe Price, Ciganer, that's, Warren Buffett, Vikas Pershad, Kevin Buckland, Ankur Banerjee, Junko Fujita, Jacqueline Wong Organizations: Nikkei, BlackRock Investment Institute, Nomura Securities, Graphics, G Investments, Thomson Locations: TOKYO, Japan, BlackRock, China, Asia, Tokyo, Singapore

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBlackRock refiles for spot bitcoin ETF, and Binance.US faces falling market share: CNBC Crypto WorldCNBC 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, Erin Plante, VP of investigations for Chainalysis, explains how the firm's tools helped Israeli authorities disrupt alleged financing for Hezbollah and Iran's Quds Force.

Persons: explainers, Erin Plante Organizations: BlackRock, CNBC Crypto, CNBC, Iran's Quds Force Locations: Iran's Quds

☆ Biden Sidesteps Any Notion That He’s a ‘Flaming Woke Warrior’
▼ + stars: | 2023-07-04 | by ( Reid J. Epstein | ) www.nytimes.com time to read: +1 min

Republicans have tried to pull him in, but appear to recognize the difficulty: When G.O.P. presidential candidates vow to end what they derisively call “woke” culture, they often aim their barbs not directly at Mr. Biden but at big corporations like Disney and BlackRock or the vast “administrative state” of the federal government. Republican strategists say most of their party’s message on abortion and transgender issues is aimed at primary voters, while Mr. Biden is seen as far more vulnerable in a general election on the economy, crime and immigration. Mr. Biden’s armor against cultural attacks might seem unlikely for a president who has strongly advocated for L.G.B.T.Q. In June, the White House said it had barred a transgender activist who went topless at its Pride event.

Persons: G.O.P, “, Biden, — Organizations: Mr, Disney, BlackRock, L.G.B.T.Q, Black Democratic

Cboe on Friday refilled an application with the U.S. Securities and Exchange Commission (SEC) to launch a bitcoin exchange-traded fund by asset manager Fidelity. In that filing it named Coinbase as the crypto platform that would help the exchange police manipulation in the ETF. The SEC had also raised the same concerns with Nasdaq (NDAQ.O) over a similar recent filing for a spot bitcoin ETF from BlackRock (BLK.N), the person said. The SEC has rejected dozens of spot bitcoin ETF applications in recent years, saying they did not meet the standards designed to prevent fraudulent and manipulative practices and protect investors. Bitcoin , the world's largest cryptocurrency, jumped to a more than one-year high last month after BlackRock (BLK.N) and Fidelity filed to launch bitcoin ETFs.

Persons: Cboe, Bitcoin, Coinbase, Chibuike Oguh, Michelle Price, Conor Humphries Organizations: YORK, U.S . Securities, Exchange Commission, SEC, Fidelity, Reuters, Nasdaq, BlackRock, Thomson Locations: U.S, BlackRock, New York

☆ Buffer ETFs are growing with new funds from iShares, even as stocks rally
▼ + stars: | 2023-07-03 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +4 min

BlackRock's iShares launched two new defined outcome funds on Friday — the iShares Large Cap Moderate Buffer ETF (IVVM) and the iShares Large Cap Deep Buffer ETF (IVVB) . The moderate buffer fund is designed to shield investors from quarterly declines between 0 and 5%, while the deep buffer fund guards against quarterly drawdowns between 5% and 20%. Buffer funds saw a surge of investor interest in 2022, when their downside protection shielded customers from the bear market. Innovator has a wide offering of buffer funds, including a popular series of monthly funds that offer a 12-month investment horizon. BJAN YTD mountain The January buffer ETF from Innovator rallied in the first half, but not as much as the S & P 500.

Persons: BlackRock's iShares, Tim Urbanowicz, Urbanowicz, Phil Toews, Toews Organizations: Equity, Toews Corporation, JPMorgan

☆ Nasdaq refiles BlackRock's bitcoin ETF application with SEC
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +2 min

July 3 (Reuters) - Nasdaq (NDAQ.O) refiled an application with the U.S. securities regulator to list an exchange-traded fund by BlackRock Inc (BLK.N) that will reflect the price of bitcoin to add additional details, according to a filing made public on Monday. The move comes after the regulator reportedly had concerns over the initial filings by Nasdaq as being unclear and incomplete. According to Cboe's Fidelity bitcoin ETF filing, the company's platform represented roughly half of U.S. dollar-bitcoin trading in May. The SEC has rejected dozens of spot bitcoin ETF applications in recent years, including one from Fidelity in January 2022. Reporting by Jaiveer Singh Shekhawat in Bengaluru and John Mcrank in New York; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Bankman, Coinbase, Jaiveer Singh, John Mcrank, Shailesh Organizations: Nasdaq, BlackRock Inc, U.S . Securities, Exchange Commission, SEC, Global Inc, Fidelity, ., Thomson Locations: Manhattan, Bengaluru, New York

☆ Riding the tailwinds for a spot bitcoin ETF in the U.S.
▼ + stars: | 2023-07-03 | by ( Bob Pisani | ) www.cnbc.com time to read: 1 min

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Persons: Wisdomtree's Schwartz Organizations: Edge, SEC, Blackrock Locations: U.S

☆ A challenging macro backdrop could dampen bitcoin's upside in the third quarter
▼ + stars: | 2023-07-02 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +10 min

Don't get too carried away though – crypto is still part of the broader market, which remains in a challenging macro environment. Before the recent rush of applications to launch U.S. spot bitcoin ETFs injected new optimism in the crypto market, it was a frustrating second quarter for traders. Between the end of the banking crisis in May and the BlackRock bitcoin ETF filing on June 15, regulatory pressure weighed heavily on sentiment and bitcoin traded sideways. Regulation and ETFs Beyond the macro backdrop, it's clear developments in U.S. regulation and ETF applications will continue to be the main themes in the third quarter. Don't get too carried away though – crypto is still part of the broader market, which remains in a challenging macro environment.

Persons: it's, Christopher Ferraro, Powell, hasn't, Ferraro, Cantor Fitzgerald's Elliot Han, bitcoin, Han, we're, " Ferraro, Dado Ruvic, Ruvic Organizations: BlackRock, Galaxy Digital, CNBC, Federal Reserve, Securities, Exchange, Fidelity, Galaxy, SEC, REUTERS, Reuters Locations: BlackRock, –, U.S, Europe, Hong Kong, London

☆ WisdomTree takes new crack at Bitcoin ETF despite prior rejections. Why this time may be different
▼ + stars: | 2023-07-01 | by ( Lina Hassen | ) www.cnbc.com time to read: +2 min

WisdomTree is attempting to launch a spot bitcoin exchange-traded fund even though its peers have failed. The firm filed with the U.S. Securities and Exchange Commission last week, making it its second bitcoin ETF application after an initial rejection two years ago. "Some of the new filings have these data sharing agreements, surveillance sharing, new ways of doing it," he said. I think the data sharing agreements are the key element for that." According to an SEC filing this week, Fidelity Investments is also trying to launch a spot bitcoin ETF despite its prior failures.

Persons: WisdomTree, WisdomTree's Jeremy Schwartz, We've, they've, Schwartz, Bob Pisani Organizations: U.S . Securities, Exchange Commission, SEC, Fidelity Investments Locations: Europe, WisdomTree, BlackRock, VanEck

The SEC raised the same concerns with Nasdaq (NDAQ.O) over a recent filing for a spot bitcoin ETF from BlackRock (BLK.N), the person said. According to Cboe's Fidelity bitcoin ETF filing, The company's platform represented roughly half of U.S. dollar-bitcoin trading in May. The recent filings for bitcoin ETFs by BlackRock and Fidelity have sent the price of bitcoin soaring more than 20% since June 15 to one-year highs. "It's not surprising to hear that the SEC is pushing back a little bit," he said of the bitcoin ETF applications. The SEC has rejected dozens of spot bitcoin ETF applications in recent years, including one from Fidelity in January 2022.

Persons: Cboe, Coinbase, Binance, it's, John Reed Stark, bitcoin, Ed Moya, It's, Carolina Mandl, John McCrank, Manya, Michelle Price, Shinjini Ganguli, Alexander Smith, David Gregorio Our Organizations: Fidelity, U.S . Securities, Exchange Commission, SEC, Nasdaq, WisdomTree, Coinbase, Cboe, BlackRock, ., Internet, Manya Saini, Thomson Locations: BlackRock, Nasdaq, Manhattan, New York, Bengaluru

☆ Global markets in H1: Banks vs the machines
▼ + stars: | 2023-06-30 | by ( Marc Jones | ) www.reuters.com time to read: +6 min

Linking it all has been the relentless rise in interest rates, which was exactly what battered markets in 2022. But just that this time has been different due to an unshakeable view that the end of the cycle is near. A 12%, or $6 trillion, rally in value of world stocks (.MIWD00000PUS), (.FTAWORLDSR) although it has been ominously top heavy. Thanks largely to ChatGPT, the AI boom has seen the 'Big Tech' giants enjoy a combined surge of 70%. There have also been around a total of 90 interest rate hikes this year by central banks globally versus just 17 cuts.

Persons: Andrew Kelly, Lehman, Trevor Greetham, Gold, Viktor Szabo, Tayyip Erdogan's, haven't, bitcoin, Binance, Milla Savova, Dhara Ranasinghe, Tom Wilson, Rashmi Organizations: New York Stock Exchange, REUTERS, Nikkei, LONDON, Big Tech, Apple, Microsoft, Google, Netflix, Meta, Nvidia, Royal London Asset Management, Japan's Nikkei, U.S . Federal Reserve, European Central Bank, Bank of Japan's, Silicon Valley Bank, behemoth, UBS, Treasury, Wall, BlackRock, Commodities, Thomson Locations: New York City, U.S, El Salvador, Sri, Zambia, Ukraine, Pakistan, Argentina, Japan, Egypt, Nigeria, London

☆ Bitcoin dips after the SEC reportedly says recent ETF applications from BlackRock and Fidelity are inadequate
▼ + stars: | 2023-06-30 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Bitcoin fell 2% on Friday after the SEC reportedly said recent ETF applications are inadequate. BlackRock and Fidelity recently filed for bitcoin spot ETFs, boosting hope that an approval was near. But Friday's report suggested that approval of a spot bitcoin ETF still faces some hurdles, even after the regulatory agency approved a 2x leveraged bitcoin futures ETF. The price of bitcoin had surged above the $30,000 level earlier this month after the BlackRock and Fidelity filings reignited the race for the first spot bitcoin ETF. Part of the SEC's concern with the latest bitcoin ETF applications was that they didn't provide enough information about the "surveillance-sharing agreement" they would implement to ensure that the ETF was not susceptible to fraud.

Persons: Bitcoin, —, bitcoin Organizations: SEC, BlackRock, Fidelity, Wall Street, Service, Securities and Exchange Commission, Nasdaq, ETF Locations: BlackRock

☆ Here's the next yield play for fixed income as rates peak, according to BlackRock
▼ + stars: | 2023-06-30 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +2 min

There is more to juicing yield than hiding out in money market funds, and BlackRock says now is the time to hop into high-quality fixed income. Indeed, the combination of higher interest rates and an inverted yield curve has made money market funds and Treasury bills tempting. "As rates appear set to peak with the approaching end of the Fed's hiking cycle, investors may want to consider stepping into high-quality, medium-term fixed income." BlackRock noted that intermediate and long-term fixed income exchange-traded funds have received $27.6 billion in inflows year to date, 15% greater than the amount of cash hitting their short-term counterparts. "At these levels, we believe investors are adequately compensated for long-term inflationary risk, given many EM central banks target ~3% inflation," the firm noted.

Persons: US3M Organizations: BlackRock, Federal Reserve

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