Trump Sons Launch $300M Manufacturing SPAC
Donald Trump's sons have launched a new investment vehicle aimed at supporting a US manufacturer, signaling their interest in business ventures and economic development.
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Investment Vehicle
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BlackRock and SEC Discuss Bitcoin ETF Approval, SEC Commissioner Supports Crypto Regulation
BlackRock, the world's largest fund manager, met with the U.S. Securities and Exchange Commission (SEC) to discuss its spot Bitcoin exchange-traded fund (ETF) application. The meeting focused on the mechanics of the investment vehicle and whether an "in-kind redemption model" or "in-cash" model would be best for investors. Grayscale Investments also met with the SEC regarding its bid to convert its Grayscale Bitcoin Trust into a spot Bitcoin ETF. BlackRock's application for the iShares Bitcoin Trust has sparked optimism among ETF analysts, who predict the long-awaited crypto investment vehicle could hit the market by January. A spot Bitcoin ETF would simplify Bitcoin investment for ordinary investors by allowing them to buy shares that track the cryptocurrency's price.
Ackman's SPARC Eyes Musk's X and Twitter for New Investment Opportunities
Billionaire investor Bill Ackman is considering a potential deal with Elon Musk's X Corp as part of a new investment vehicle. Ackman's Pershing Square recently received regulatory approval for a special purpose acquisition company (SPARC) that targets private companies looking to raise $1.5 billion or more and potentially take them public. This move highlights Ackman's interest in partnering with X Corp for future investment opportunities.
Valkyrie Becomes First to Offer Ethereum Futures ETF After SEC Approval
Asset manager Valkyrie has received approval to convert its existing bitcoin futures ETF into a two-for-one investment vehicle, allowing it to start buying Ether (ETH) futures contracts. This makes Valkyrie the first US ETF to offer exposure to both Ether and Bitcoin futures contracts. The fund's new strategy will be effective on October 3, with the name changing to Valkyrie Bitcoin and Ether Strategy ETF. Meanwhile, VanEck, another asset management firm, has announced its plans to launch an Ethereum futures ETF.