A Securities and Exchange Commission filing revealed BlackRock (BLK) received $100,000 from a currently unknown seed investor for a proposed spot bitcoin ETF. Many companies, including Fidelity, Invesco, Grayscale, and others are patiently waiting for SEC approval for a spot bitcoin ETF. Bitcoin (BTC-USD) is up more than 20% for the month as sentiment grows bullish for the cryptocurrency on approval hopes. Yahoo Finance Jared Blikre joins the Live show to break down the latest numbers and developments surrounding BlackRock and bitcoin. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Global markets will be swayed by greater volatility in 2024 as the Federal Reserve cuts benchmark interest rates fewer times than futures markets are pricing in, strategists at the BlackRock Investment Institute said at a panel discussion Tuesday. Nevertheless, BlackRock, the world's largest asset manager, continues to see opportunities in equities in AI stocks and technology, particularly in the memory sector, as well as quality factors. "Market pricing for rate cuts is a bit overdone in our view," said Wei Li, Global Chief Investment Strategist for BlackRock.
State Street (STT) finalizes the plan to take full ownership of JV with HCLTech.