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What are the key takeaways from DAY 1 of bitcoin spot etf?
- The first US ETFs that directly hold Bitcoin are off to a strong start, with billions of dollars changing hands in a historical first day of trading for the long-sought investment vehicles. - The Blackrock iShares Bitcoin Trust ($IBIT) has passed $1B in volume today - The whole group hit $4.3B in volume or $2.2B ex-GBTC - 4 issuers are ABOVE $100B volume - The Bitcoin futures ETF $BITO smashed it's all time volume record in this historic day with $2b traded.. perhaps some is redemptions but it is probable that $BITO's liquidity will serve purpose in market maker for a while - $BITO and $GBTC are both in the Top 10 among overall ETFs in trading volume today.. $IBIT and $FBTC also making in Top 25, just to give some context on how this volume fits in w bigger picture. Just overall superb showing. Remember the futures ETFs barely did $2m - As a side note, $7.7 trillion asset manager Vanguard says they will NOT offer spot Bitcoin ETF.
China vs. Japan in one chart! Japanese stocks have outperformed their Chinese counterparts by a whopping 63% since the start of 2023.
Source: Jeroen Blokland
Iran seizes oil tanker involved in U.S. dispute off coast of Oman. Crude oil is up 2% on the news
-> Iran has captured an oil tanker previously involved in a Washington-Tehran dispute over carrying U.S.-sanctioned crude, state media said. -> Earlier on Thursday, the U.K. Marine Trade Operations said an unnamed tanker was boarded by armed individuals near the Gulf of Oman and appeared to change course toward Iranian waters. .> The tanker is embroiled in a dispute between Iran and the U.S. and previously surrendered Iranian crude to U.S. authorities following allegations of sanctions violations. -> Bloomberg confirmed that the Marshall Islands-flagged tanker "St Nikolas" is the vessel that was hijacked. A previous report says that St Nikolas was seized by the US last year, sailing under a different name, "Suez Rajan," for transporting unauthorized Iranian cargo. -> Empire Navigation, the vessel's operator, said the tanker was loaded with 145,000 tons of crude from the Iraqi port of Basra and was en route to Aliaga in western Turkey through the Suez Canal. It noted all communication with the vessel had been lost. -> The hijacking incident was near another chokepoint: the Hormuz Strait between Oman and Iran.
The approval of 11 bitcoin spot etf by the SEC is going to accelerate adoption of cryptocurrencies by Wall Street(and Main Street).
Adoption rhymes with education and this is precisely what the big guys are currently doing -> training their staff to better understand, explain and promote crypto products & solutions to their clients.
Headline CPI Hotter Than Expected In December, Food Costs Hit Record High
>>> Headline Consumer Price Inflation printed hotter than expected in December, +0.3% MoM vs +0.2% exp and +0.1% prior, pushing the YoY headline CPI up to +3.4% (from +3.1% prior and hotter than the +3.2% exp)... >>> US Core CPI (ex-Food/Energy) rose 0.3% MoM as expected, dropping the YoY change below 4.00% (3.93%) for the first time since May 2021. This was also above estimates of 3.8% yoy. >>> Goods deflation has stalled as the used cars and trucks index rose 0.5 percent over the month, after rising 1.6 percent in November. Food costs stand at record highs. Fuel costs are on the rise again. >>> More problematically for The Fed is the fact that Core CPI Services Ex-Shelter (SuperCore) rose 0.4% MoM, upticking the YoY rise to +4.09%...(see chart below). All the subsectors of SuperCore rose MoM with the shelter index increased 6.2 percent over the last year, accounting for over two thirds of the total increase in the all items less food and energy index. >>> Market reaction: 10Y hit 4.06% and sp500 futures are sligthly down. Prediction markets are severely discounting a March rate cut. We started 2024 with a 70%+ chance that interest rate cuts begin by March. After the strong jobs report and a hot inflation reading, odds have nearly HALVED. Still, markets are pricing in 6 rate cuts in 2024, DOUBLE what the Fed is guiding. Source: Bloomberg, The Kobeissi Letter, www.zerohedge.com
OpenAI CEO Sam Altman is not only one of the most powerful people in the world right now.
He's also one of the best angel investors and entrepreneurs. Source: CB Insights thru Linas Beliūnas
While renewables energy have been a bug disappointment for investors over the last few years, long-term forecasts for offshore wind capacity remain quite attractive.
Growth still remains strong at 22% CAGR until 2030, 11% CAGR between 2030 and 2040 and 5% CAGR between 2040 and 2050. In the next 12 months, more than 80GW of auctions will be started or concluded globally. Source: Bernstein, TME
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