The SEC has approved the first dual Bitcoin and Ethereum ETFs, introduced by Hashdex and Franklin Templeton, marking a significant step in crypto adoption. The ETFs, set to launch in January 2024, will provide institutional investors with simplified access to these major cryptocurrencies, despite ongoing market volatility. This approval reflects a potential shift in the SEC's regulatory stance towards digital assets, following recent leadership changes.
Ten years ago, Raiffeisen shares closed at EUR 11.88, and an investment of EUR 10,000 would have yielded 841,751 shares. As of December 19, 2024, these shares are valued at EUR 16,489.90, reflecting a 64.90% increase in value, with the company’s market valuation at EUR 6.43 billion.
Gold prices have rebounded above $2600, supported by concerns over a potential US government shutdown, with targets set at $2650 and $2725. In contrast, WTI crude continues to decline, aiming for recent lows around $66.70, while natural gas prices are on an upward trajectory, targeting 3600.
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Bitcoin's Layer 2 ecosystem is rapidly evolving, with projects like Core Chain, Bitlayer, and Merlin Chain leading the charge. Core Chain merges Bitcoin's security with Ethereum's flexibility, while Bitlayer enhances scalability through its Bitcoin Virtual Machine. Merlin Chain and B-Squared utilize zk-rollup technology to innovate DeFi applications, showcasing the potential of Bitcoin's future in blockchain development.
Richard Saynor, CEO of Sandoz Group AG, aims to position the company as a leader in producing generic versions of cutting-edge drugs, including anti-obesity treatments. He highlights the significant market opportunity as many drugs come off patent, but raises concerns about the environmental impact of mass-producing these medications, particularly regarding waste from vials. Saynor emphasizes the need for sustainable solutions in the pharmaceutical industry as demand for these drugs grows.
Richard Saynor, CEO of Sandoz, aims to position the company as a leader in producing affordable generics and biosimilars, especially as a wave of patents expires. He emphasizes the challenges of sustainable production and the complexities of drug development, while expressing optimism about potential changes in the U.S. healthcare system under the new administration. Saynor believes that making medicines more accessible can significantly expand patient treatment opportunities.
U.S. stock futures are set to decline as investors await crucial inflation data that may influence interest rate decisions for 2025. The Dow Jones Industrial Average futures dropped 204 points, or 0.5%, following a modest rise that ended a 10-day losing streak. Meanwhile, S&P 500 and Nasdaq 100 futures fell by 0.7% and 1.1%, respectively.
The US SEC has approved the first combined Bitcoin and Ethereum ETFs from Hashdex and Franklin Templeton, featuring an 80/20 split. This milestone comes amid significant outflows from existing Bitcoin and Ethereum ETFs, totaling $671 million and $60 million, respectively, as the market faces a downturn. The new ETFs are set to launch in January 2024, with expectations of strong demand for diversified crypto investment products.
Bitcoin ETFs experienced a record outflow of $671.9 million on December 19, coinciding with a drop in Bitcoin's price to around $96,409. Grayscale's GBTC and ARK Invest's ARKB were the largest contributors to the outflows, reflecting a broader market decline that saw over $1 billion liquidated in 24 hours. Despite this, Bitcoin maintains a 57.4% dominance in the crypto market, with analysts suggesting the downturn may be temporary as discussions around "buying the dip" surge to an eight-month high.
The Dow Jones Industrial Average surged about 755 points, or 1.8%, amid optimism over a potential government funding deal, with House Speaker Mike Johnson indicating a vote on a measure that would prevent a shutdown. The S&P 500 and Nasdaq also saw gains of 1.7% each, following a PCE inflation report that showed slower price increases than expected. Despite Friday's rally, all sectors remained on track to finish lower for the week.

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