SEC Fines BlackRock $2.5M for Incorrect Investment Disclosure
The U.S. Securities and Exchange Commission has fined BlackRock Advisors $2.5 million for failing to accurately describe investments in the entertainment industry that constituted a significant portion of a publicly traded fund it managed. According to a filing with the SEC, between 2015 and 2019, BlackRock Multi-Sector Income Trust (BIT) made substantial investments in a […]
ARK Invest sells GBTC Shares as Bitcoin hits $34K
Investment firm ARK has sold 100,739 Grayscale Bitcoin Trust (GBTC) shares held by the ARK Next Generation Internet ETF as Bitcoin price surges to $35K. On October 23, ARK, managed by Bitcoin investment veteran Cathie Wood, sold 100,739 GBTC shares from its ARK Next Generation Internet ETF (ARKW) for $2.5 million. GBTC reached $24.7 for […]
Empowered Funds Applies to SEC For Bitcoin Futures ETFs
According to the Financial Times, Empowered Funds is seeking SEC approval for 3 new Bitcoin futures ETFs in collaboration with Ark Invest and 21Shares Empowered Funds, a subsidiary of Alpha Architect operating as EA Advisers, has applied to introduce three new Bitcoin futures exchange-traded funds (ETFs) under the Ark Invest and 21Shares labels. While these […]
Bitcoin, Ether Price Dip Leads to $1B in Crypto Liquidation
The Bitcoin and Ethereum price decline on August 18 caused the top two cryptocurrencies to fall to a two-month low, prompting thousands of derivative traders to liquidate their positions. The crypto bloodbath resulted in liquidating hedged positions worth billions of dollars, and several traders lost millions of dollars in a single trade. According to CoinGlass […]
PayPal UK to Temporarily Stop Bitcoin Purchases Till 2024
PayPal United Kingdom will temporarily halt crypto purchases on its platform from Oct. 1, 2023, through early 2024 to comply with local financial regulations. PayPal is temporarily suspending the ability for its U.K. customers to purchase cryptocurrencies such as Bitcoin, the company told Cointelegraph on August 16. “PayPal customers who currently hold cryptocurrency can store […]