Jobaaj Stories
What is Bitcoin futures ETF?
ETF is an exchange-traded fund that invests in futures of underlying assets and is regulated by the SEC. Here in the case of Bitcoin ETF, the fund would invest in bitcoin futures and derive its value from the change in Bitcoin future prices.
Will this transform the Crypto Market?
It would be too early to say that ETF would whole together transform the regulatory space in the crypto market. But, at the same time, it won't be an understatement to say that this is the much-needed stepping stone
In the opening 20 minutes, $280 million worth of shares were traded, according to early reports, and more than $850 million by the end of the day when it closed up 5%.
Global Market Update -
Global Equity market
Owing to the high earning quarter, S&P 500 experienced a minor green uptick.
Companies In Focus
- SPAC, which recently agreed to buy Donald Trump's media company, experienced a roller-coaster ride, reaching a market value of more than 4.5 billion dollars at one point.
- In new Series B funding, FTX, a global cryptocurrency exchange, raised $420.69 million at a valuation of $25 billion.
- The British supermarket chain, Sainsbury's (LSE: SBRY), has ended talks to sell its banking division
- Bloomberg reports that Tata Chemicals of India is looking for a buyer for its ash business in the U.S. That business could fetch at least $ 1 billion, Bloomberg reports.
- Following Apple's recent privacy changes, Snapchat's stock dropped nearly 25% in after-hours trading on Thursday following its acknowledgement that its ad business was "disrupted"
- Last month, Facebook said Apple's new app tracking transparency feature would continue to hurt its advertising business in the third quarter.
- Just days before the debt repayment deadline, China Evergrande handed over funds to make a bond payment.
- A CDC panel approved boosters for J&J and Moderna.
Thanks for Reading!
Shubham Agarwal (CFA L2 Candidate and MBA candidate at University of Cambridge, UK)
Want to discuss this further or have questions regarding finance/strategy? Feel free to connect here: - https://www.linkedin.com/in/shubhamagarwal13/
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