Crypto confirmed: The SEC has greenlit Bitcoin ETFs

1/11/24 7:00PM

Spotted

‍After a multi-year wait — and a false start earlier this week — 11 asset managers had their Bitcoin exchange-traded fund (ETF) applications approved by the SEC on Wednesday, a milestone that makes it easier for everyday investors to delve into the world of crypto.

Since the SEC's choice not to appeal a court decision that found it was wrong to block a previous Bitcoin ETF application in October, the digital currency has rallied over 70%. However, Bitcoin was already having a stellar year even before the ETF approval almost became an inevitability, rising over 150% in 2023 as it continued its resurgence from industry setbacks the year before.

‍Bitcoin bounce

‍Many institutional investors were hesitant to embrace the digital asset during the crypto craze of 2021, fearing it was another bubble destined to burst, akin to the dot-com and housing booms. Bitcoin’s price trajectory over the past 5 years, though, currently looks more like a mountain range than the single-peaked pictures often painted by market bubbles.

Aside from some significant and high-profile faults, like the collapse of crypto-exchange FTX, Bitcoin's price fluctuations usually seem to be impacted by its cultural and social acceptance as a digital currency in the wider world. Whether it was the coin becoming legal tender in El Salvador, or crypto featuring in 4 adverts during one of 2022's most-watched TV broadcasts, Bitcoin's value tends to rise and rise when it edges closer to the mainstream.

Millie Giles

WITHDRAWALS

Bank branches are still closing at breakneck speed in the US

Institutions such as Chase and Wells Fargo closed 76 locations in just six weeks over the summer, per the OCC.

Indianapolis - March 2016: Chase Bank III

Nia Warfield

19h

Fox and News Corp slide as investors digest $3.3 billion Murdoch succession settlement

Fox and News Corp shares dropped on Tuesday after Rupert Murdoch’s heirs agreed to a $3.3 billion settlement to resolve a long-running succession drama.

Under the deal, Prudence, Elisabeth, and James Murdoch will each receive about $1.1 billion, paid for in part by Fox selling 16.9 million Class B voting shares and News Corp selling 14.2 million shares. The stock sales will raise roughly $1.37 billion on behalf of the three heirs.

The new trust for Lachlan Murdoch will now control about 36.2% of Fox’s Class B shares and roughly 33.1% of News Corp’s stock, granting him uncontested voting authority over both companies for the next 25 years. Originally, the Murdoch trust was designed to hand over voting control of Fox and News Corp to Prudence, Elisabeth, Lachlan, and James after his death.

Investors are weighing the trade-off. Clear leadership under Lachlan may resolve conflict internally, but the share dilution, executed at a roughly 4.5% discount, means long-term investors now hold slightly less clout than before.

Both companies’ stocks were trading close to all-time highs prior to the announcement.

385 ✈️ 434

Max Knoblauch

19h

Boeing on Tuesday announced that it delivered 57 commercial jets in August, its best total for the month in seven years. That brings its year-to-date delivery total to 385 planes, eclipsing its full-year 2024 figure by about 11%.

The August figure marked Boeing’s second-highest delivery total of 2025 and represented a 43% jump from the same month last year. Through August, Boeing has boosted its deliveries by 50% from last year.

The plane maker is still trailing its European rival Airbus, which delivered 61 planes in August and 434 year to date.

Nia Warfield

9/8/25

Tariffs finally crept into retail's latest earnings results. Who were the winners and losers?

The long-awaited levies took a toll on nearly every retailer, but execution separated who could steer through the costs.