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24/11/2023

The cryptocurrency market may be on the cusp of a transformative shift as Glassnode, a leading blockchain analytics firm, predicts that the introduction of a spot Bitcoin Exchange-Traded Fund (ETF) could potentially unlock $70 billion in new demand. This surge is anticipated to come from investors reallocating their capital from traditional stock, bond, and gold ETFs.
Glassnode's analysis points to a significant tightening in the Bitcoin market, with short-term supply hitting multi-year lows while long-term holdings reach record highs. This existing market tightness is expected to contribute to heightened volatility should the predicted influx of ETF funds materialize.
Drawing historical parallels, Glassnode references the impact of gold ETFs on the precious metal's market. Following the introduction of gold ETFs, prices saw an escalation of over 400%. If Bitcoin were to follow a similar trajectory after the launch of a spot ETF, it could signal a major price movement for the digital currency.
Investors and market watchers are closely observing these developments, as the potential for a Bitcoin ETF has been a topic of considerable speculation and debate within financial circles. The anticipation builds on the premise that such an ETF would provide easier access to Bitcoin for a broader range of investors, potentially leading to increased adoption and integration into mainstream investment portfolios.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

01/11/2023

According to UBS strategists, systematic trading funds have been increasing their short positions in stocks, but they do not anticipate significant flow in the near term.
Commodity Trading Advisors (CTAs) have notably raised their short positions by 50% in the past three weeks, shifting from -$60 billion to -$92 billion, which represents a change from -17% to -26% of their assets under management.
In the bond market, CTAs are short, but they have been in a "wait and see" mode since mid-September. They are expected to start covering their short positions in the next two weeks, according to UBS’ analysis.
In FX, CTAs hold a "very long" position on the dollar and continued to buy in October. A strong Non-Farm Payrolls (NFP) release could increase volatility and mitigate downside risk on the currency.
In the commodities market, CTAs are rapidly closing their relative value trade of being "long energy vs short precious," and more covering in this trade is expected over the next two weeks

01/11/2023

HII (HII) declared a quarterly dividend of $1.30 per share, or $5.2 annualized. This is a 4.8% increase from the prior dividend of $1.24.
The dividend will be payable on December 8, 2023, to stockholders of record on November 24, 2023, with an ex-dividend date of November 22, 2023.
The annual yield on the dividend is 2.4 percent.
For a dividend history and other dividend-related data on HII (HII) click here.

11/10/2023

In occasione del processo penale, Sam "SBF" Bankman-Fried, ex CEO di FTX, ha assistito dal tavolo della difesa alla testimonianza di Caroline Ellison, sua ex socia e fidanzata.
Secondo quanto riportato in aula il 10 Ottobre, Ellison ha riconosciuto di aver commesso una frode durante il periodo trascorso ad Alameda sotto la direzione di Bankman-Fried. L'ex CEO di Alameda avrebbe attribuito la responsabilità dell'uso improprio dei fondi degli utenti di FTX direttamente a SBF, sostenendo che egli ha "messo in piedi i sistemi" che hanno portato Alameda a sottrarre circa 14 miliardi di dollari dall'exchange.
"Alameda ha preso diversi miliardi di dollari dai clienti di FTX e li ha usati per investimenti", ha dichiarato Ellison. "Ho inviato bilanci che facevano sembrare Alameda meno rischiosa di quanto fosse"

11/10/2023

LONDON (Reuters) - Ether, the second-largest cryptocurrency, may rise more than five-fold in value by the end of 2026, according to global bank Standard Chartered (OTC:SCBFF), its latest prediction of rocketing crypto prices.
Ether may hit $8,000 over the next two years as it becomes more widely used in blockchain-based covenants known as "smart contracts," as well as gaming and the "tokenisation" of traditional assets, StanChart Head of FX Research, West, Geoff Kendrick wrote.
Ether was trading on Wednesday at about $1,575.
Assessing the value of cryptocurrencies is fraught with difficulty, as tokens such as ether or bitcoin that are not backed by traditional assets lack the gauges used to price stocks, bonds or currencies. The price of crypto tokens are generally driven by the sentiment of investors.
"We see the $8,000 level as a stepping stone to our long-term 'structural' valuation estimate of $26,000-$35,000," wrote Kendrick, who also heads the bank's digital assets research.
"That valuation assumes future use cases and revenue streams that may not have emerged yet, although the real-world use cases of gaming and tokenisation should support their development."
Kendrick told Reuters that the structural valuation estimate was "very long term, say 2040."
Ether has gained some 30% this year, though remains almost 70% below its all-time high of about $4,869, hit in Nov. 2021.
StanChart said in July that top crypto token bitcoin could reach $50,000 this year and $120,000 by the end of 2024. Bitcoin was last trading at around $27,275.
Crypto token ether could rise five-fold by end-2026, StanChart says

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