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Uncertainty Over Fed Rate Cuts Intensifies With Sticky Inflation Metrics

Uncertainty Over Fed Rate Cuts Intensifies With Sticky Inflation MetricsAs each day unfolds, analysts, economists, Wall Street institutions, and Fed watchers have increasingly postponed their forecasts for when the U.S. Federal Reserve will reduce the benchmark interest rate. Current data suggest that a rate cut in June is unlikely, with odds standing at 50-50 for a reduction in July. Financial Analysts Question Timing of […]

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Rate Cuts Could be ‘Out the Window’ After March CPI Data Reveals Stubborn Inflation, Tradestation Exec Says

Rate Cuts Could be ‘Out the Window’ After March CPI Data Reveals Stubborn Inflation, Tradestation Exec SaysThe U.S. Consumer Price Index (CPI) experienced a higher increase than anticipated in March, climbing by 0.4% over the month to reach 3.5%. The Bureau of Labor Statistics reported that the rise was primarily fueled by increases in shelter and gasoline costs. This acceleration in the inflation rate has unsettled the financial markets, with many […]

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Markets Tumble as Fed Rate Cut Expectations Diminish

Markets Tumble as Fed Rate Cut Expectations DiminishAttention is riveted on the Federal Reserve’s assembly set for May 1, with widespread anticipation that the U.S. central banking authority might lower the federal funds rate at this juncture of the year. Currently, market forecasts suggest a rate reduction is very unlikely, and Cleveland Federal Reserve President Loretta Mester has expressed her inability to […]

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Powell: Economy Progresses but Inflation Still ‘Too High’ to Adjust Benchmark Rate

Powell: Economy Progresses but Inflation Still ‘Too High’ to Adjust Benchmark RateOn Wednesday, March 20, 2024, the Federal Open Market Committee (FOMC) declared that there will be no change to the federal funds rate for the time being. The committee emphasized its intention not to lower the target rate until there is “greater confidence that inflation is moving sustainably” toward the 2% target. Fed Pauses Rate […]

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Coinbase To Raise $1,000,000,000 in Convertible Bonds From Institutional Buyers As COIN Rallies 81% in a Month

Coinbase To Raise ,000,000,000 in Convertible Bonds From Institutional Buyers As COIN Rallies 81% in a Month

Top US-based crypto exchange platform Coinbase says it will be raising $1 billion worth of convertible bonds from institutions. In a new press release, Coinbase announced today its intention to privately offer $1 billion worth of convertible notes due in 2030  to “persons reasonably believed to be qualified institutional buyers.” “The notes will be senior, […]

The post Coinbase To Raise $1,000,000,000 in Convertible Bonds From Institutional Buyers As COIN Rallies 81% in a Month appeared first on The Daily Hodl.

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Fundstrat’s Tom Lee Says Stock Market Not in a Bubble, Predicts Fed Won’t Hesitate To Cut Rates

Fundstrat’s Tom Lee Says Stock Market Not in a Bubble, Predicts Fed Won’t Hesitate To Cut Rates

The head of research at market intelligence firm FundStrat says the stock market most likely has more room to run to the upside. In a new interview with CNBC Television, FundStrat’s Tom Lee says it’s too early to say the stock market’s in a bubble as there is no consensus yet that it isn’t in […]

The post Fundstrat’s Tom Lee Says Stock Market Not in a Bubble, Predicts Fed Won’t Hesitate To Cut Rates appeared first on The Daily Hodl.

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Coinbase Stock on the Rise After Oppenheimer Upgrade To ‘Outperform’: Report

Coinbase Stock on the Rise After Oppenheimer Upgrade To ‘Outperform’: Report

Coinbase’s (COIN) stock is rising after multiple reports of being upgraded to “outperform” by a prominent investment brokerage and bank. According to a new report by Yahoo Finance, financial services giant Oppenheimer expects the top US-based crypto exchange platform’s stock to outperform expectations and reach a price tag of $160. In an accompanying research note, […]

The post Coinbase Stock on the Rise After Oppenheimer Upgrade To ‘Outperform’: Report appeared first on The Daily Hodl.

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Cathie Wood’s ARK dumps 800K Grayscale Bitcoin Trust shares

The Grayscale Bitcoin Trust, one of ARK’s top three holdings, could lose its third-place ranking as ARK sheds its shares while increasing its holdings of Jack Dorsey’s Block.

ARK Invest, one of the applicants for a spot Bitcoin (BTC) exchange-traded fund (ETF) in the United States, has continued to dump its holdings of Grayscale Bitcoin Trust (GBTC) stock with the sale of yet another significant batch of shares.

On Dec. 18, ARK sold 809,441 GBTC from its ARK Next Generation Internet ETF (ARKW), according to a trade notification seen by Cointelegraph. Based on the closing share price of $34.5, the sale is worth $27.9 million, according to data from TradingView.

This latest divestment further reduces ARK’s exposure to the Grayscale Bitcoin Trust, with GBTC inching closer to dropping out of the list of ARKW’s top three holdings.

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TMX buys 78% of ETF tool VettaFi for $848M, boosting stake to 100%

Toronto Stock Exchange owner TMX is finalizing the purchase of VettaFi, an ETF tool that lists blockchain and cryptocurrency-themed E3TFs, including the VanEck Digital Transformation ETF.

TMX Group, the operator of Canadian stock exchanges such as the Toronto Stock Exchange and the Montreal Exchange, is finalizing the acquisition of VettaFi, a significant player in the exchange-traded fund (ETF) industry, including in blockchain and crypto ETFs.

The firm officially announced on Dec. 13 that it has agreed to acquire the remaining 78% of the common units of VettaFi for $848 million that it didn’t already own. The new deal brings the total amount of the acquisition to $1.03 billion, which includes investments TMX Group made in VettaFi in the first half of 2023 for around 22% of the common units, the announcement notes.

“The acquisition of VettaFi will add a dynamic new component to our growing information business, with an exciting set of capabilities and a visionary, innovative team committed to client success,” TMX Group CEO John McKenzie noted. He added that TMX had previously worked with VettaFi, and their collaboration had brought a “powerful combination and a tremendous culture fit.”

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Top five blockchain ETFs that returned over 100% in 2023: Data

Some crypto-linked ETFs like the VanEck Digital Transformation ETF and Global X Blockchain ETF have surged as much as 200% and higher in 2023.

As the cryptocurrency community has been focused on the potential approval of a spot Bitcoin (BTC) exchange-traded fund (ETF) in the United States, some crypto-linked ETFs have already been racking up significant gains in 2023.

One such ETF is the VanEck Digital Transformation ETF (DAPP), which has surged nearly 207% year to date (YTD), according to data from TradingView. Launched in April 2021, DAPP tracks the price and performance of the MVIS Global Digital Assets Equity Index, which, in turn, is based on the performance of major companies involved in the digital asset economy.

VanEck’s DAPP ETF holds Coinbase (COIN), MicroStrategy (MSTR) and Block (SQ) as its top exposure assets. Coinbase and MicroStrategy have seen massive growth this year, with the shares rising 312% and 302% YTD, respectively, according to data from TradingView.

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