Ethereum’s revenue reached $10 billion as the demand for ETH increased, partly driven by BlackRock’s Ethereum ETF filing, which saw the coin’s price surpass $2,000. The spike in revenue suggests heightened activity on the blockchain, evidenced by a boost in network fees and surge in new addresses. However, network activity and gas prices have since declined, potentially impacting future revenue.
ARK Invest and 21Shares are partnering to launch five digital asset ETF products, aiming to provide a variety of investment options in digital assets. The ETFs, focusing on Bitcoin and Ethereum futures and blockchain industry equities, intend to benefit from on-chain signals and the companies’ crypto-native experience, promising potential long-term capital appreciation. The ETFs are set to be listed on the Chicago Board Options Exchange next week.
BlackRock Health Sciences Term Trust is a closed-end fund (NYSE: BMEZ) specializing in healthcare and biotech stocks, holding $1.69 billion under management. The fund employs call-writing overlay and invests in venture companies, expecting illiquidity premium. Currently trading at a 17.52% discount to NAV, it potentially offers a 21% upside over 8 years. Hedge fund Saba Capital’s increased interest adds another level of potential returns. But risks such as the widening discount and significant wait time for discount closure pose challenges.
Embedded finance, the integration of financial services into non-financial platforms, is revolutionizing the financial industry. Enabled by APIs, this shift incorporates finance into everyday digital activities, transforming sectors like banking, insurance, investments, and healthcare. Despite challenges such as data privacy, security, and regulatory compliance, embedded finance promises enhanced accessibility, improved customer experience, and potential financial inclusion. Industry-wide standardization and the incorporation of blockchain technology could further drive this innovative trend.
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The NextGen Infrastructure Income Fund (NXG), a closed-end fund investing in sustainable infrastructure and renewable energy, currently trades at a 14.5% discount. Due to recent market trends, infrastructure and renewable energy stocks suffered in 2022 and 2023. However, analysts still back these stocks, citing long-term trends of global urbanization and the transition to clean energy. NXG’s increased distribution rate and institutional ownership by Saba Capital and Bulldog Investors underline its potential growth.
Morgan Stanley Investment Management has launched five new actively managed ETFs, leveraging the industry preference for tax efficiency and ease of use. Two equity ETFs and three fixed income products will be managed by Parametric and Eaton Vance, with strategies that include diverse dividends and downside protection. The move comes after active ETFs procured around 25% of net inflow share in the first three quarters of 2023, despite only making up 5% of assets.
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