5 minutes ago
Ethereum ETF set to debut on Tuesday
An Ethereum ETF is set to launch in the U.S. on Tuesday, roughly six months after the debut of a bitcoin fund.
Among the firms that have been racing to launch Ethereum funds are large asset managers such as BlackRock, Fidelity and VanEck, as well as crypto-focused firms such as Bitwise, 21Shares and Grayscale (which is essentially converting its multi-billion-dollar Ethereum trust into two ETFs with different fee levels).
Demand for an Ethereum ETF is expected to be lower, at least initially, than a bitcoin ETF, which has attracted more than $16 billion in net inflows so far, according to FactSet. Still, the fund is another sign of how cryptocurrencies are becoming increasingly intertwined with the traditional financial system.
“Today’s approval is further evidence that cryptocurrencies are here to stay as an asset class,” Ophelia Snyder, co-founder and president of 21Shares, said in a statement.
Jesse Pound
21 minutes ago
View stock price movements outside business hours
Some of the stocks that made notable moves in extended trading were:
Cadence Design Systems — The electronic design stock fell 1.6% after a weak current quarter earnings outlook. Cadence now expects third-quarter earnings per share of $1.39 to $1.49, compared with analysts surveyed by FactSet’s forecast of $1.61 per share. Crown Holdings — The packaging products maker rose 6% after its full-year outlook beat expectations. Crown now expects earnings per share of $6 to $6.25, beating analysts surveyed by FactSet’s forecast of $5.97 per share. NXP Semiconductors — The chipmaker fell 8% after second-quarter adjusted earnings fell short of market expectations. NXP posted adjusted earnings of $3.20 per share, compared with the consensus estimate of $3.21 per share, according to LSEG.
See the complete list here.
Alex Harring
38 minutes ago
Stock futures are almost flat
Stock futures tracking the Dow, S&P 500 and Nasdaq 100 were little changed as of Monday night just after 6 p.m. ET.
Alex Harring
