Several firms are vying for the approval of their proposed spot Bitcoin BTC/USD exchange-traded funds (ETFs), hoping to capture a significant market share.
What Happened: Switzerlands Pando Asset AG on Wednesday emerged as the 13th contender by submitting a filing to the Securities and Exchange Commission (SEC) for the Pando Asset Spot Bitcoin Trust.
Among the total 13 applications, two major players, Grayscale Bitcoin Trust GBTC and Blackrock Inc. BLK , have revised their filings just to secure a BTC ETF spot.
Analysts predict that the SEC is on the cusp of approving several spot Bitcoin ETFs. The first to cross the finish line could enjoy a significant first-mover advantage, attracting a large base of retail investors.
Since both BlackRock and Grayscale Bitcoin Trust submitted their applications for a spot Bitcoin ETF, their stock prices have experienced an upswing. We compare which of the two stocks has delivered the best returns over the past year.
BlackRocks stock increased from $695.78 to $747.3, marking a 7.4% growth. On the other hand, GBTC saw a 242.74% surge from $9.05 to $31.02. BLK Or GBTC: 1-Year Performance (Image: Benzinga)
If you had invested $1000 in either of the stocks, you would have yielded $1074.04 in BLK and $3427.4 in GBTC. BLK Or GBTC: Which Offers Better Returns? (Image: Benzinga)
See More: Dogecoin HODLERs Are Beating Shiba Inu With 57% Landing In Profits, IntoTheBlock Data Reveals
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A Closer Look at Market Movements
When analyzing their market behavior, the coefficient of determination (R^2) stands at a low 0.023, suggesting a very weak correlation between BLK and GBTCs market movements, as evidenced by a linear regression analysis. Do BLK And GBTC Often Move Together? (Image: Benzinga)
Price Action: At the time of writing, BTC was trading at $37,731, down 1% in the last 24 hours, according to Benzinga Pro. On Wednesday, GBTC finished trading at $31.02, while BLK closed at $747.30.
Illustration by CryptoFX on Shutterstock
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Kneecap have released a new single ahead of their headline performance at London’s Wide Awake festival, just days after one of their members was charged with a terror offence.
Image: Kneecap performing in Belfast last year. Pic: PA
Bandmembers Liam O hAnnaidh, Naoise O Caireallain and JJ O Dochartaigh, also thanked the 25,000 fans who had bought tickets for Friday night’s festival.
They also reference Conservative Party leader Kemi Badenoch, with whom they’ve had previous run-ins, writing: “Kemi Badenoch you might wanna sit down for this one, if you’ve any seats left.”
Last year, Kneecap won a discrimination case against the UK government in Belfast High Court after former business secretary Ms Badenoch tried to refuse them a £14,250 funding award when she was a minister.
Ms Badenoch has called for Kneecap to be banned and suggested they should be dropped from the Glastonbury Festival line-up. Some other politicians have made the same demand.
The track mocks Badenoch’s attempts to block their arts funding and the Conservative Party’s election loss. It features DJ Mozey.
It comes after O hAnnaidh, who performs under the stage name Mo Chara, was charged over the alleged display of a Hezbollah flag at a gig at the O2 Forum in Kentish Town, north London, in November last year, the Metropolitan Police said on Wednesday.
On Thursday, the band held a surprise gig at the 100 Club on Oxford Street, where O hAnnaidh could be seen in videos on social media arriving on stage with tape covering his mouth.
He then joked about being careful about what he said, adding that he wanted to thank his lawyer, saying: “I need to thank my lawyer, he’s here tonight as well.”
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Stars talk about risks of speaking out
In video footage posted to YouTube, the band led the audience in a chant of “free Mo Chara” and joked about the police presence at the venue.
Police said they attended to manage visitors to the sold-out event.
The band said on X that the central London event sold out in 90 seconds, with 2,000 people on the waiting list.
O hAnnaidh, 27, is due to appear at Westminster Magistrates’ Court on 18 June.
Formed in 2017, the group are known for their provocative lyrics in both Irish and English and proved a critical hit in the 2024 semi-fictionalised band origin story movie Kneecap, starring actor Michael Fassbender.
Their best-known tracks include Get Your Brits Out, Better Way To Live, featuring Grian Chatten from Fontaines DC, and 3Cag.
The New York Islanders have the man to make the first pick in the draft. Sources told ESPN’s Emily Kaplan that the team is hiring Lightning assistant general manager Mathieu Darche as its new GM.
Darche played parts of nine seasons in the league with five different teams.
He has worked in Tampa Bay’s front office since 2019, helping the Lightning win two Stanley Cups. This will be the 48-year-old’s first general manager job.
Darche takes over for Lou Lamoriello, who was fired this offseason after seven seasons on the job. New York didn’t make the playoffs this season and hasn’t made it past the first round since 2020-21 — when the Islanders lost in the East semifinals to the Lightning.
The Isles lucked out in the draft lottery, jumping from 10th to the first selection. This will be the first time they’ll have the top pick since taking John Tavares in 2009.
Jim Nill, Kevin Cheveldayoff and Bill Zito have been named finalists for the Jim Gregory General Manager of the Year Award, the NHL announced Friday.
The voting for the award was conducted between league general managers, a panel of executives and media members following the conclusion of the second round of the playoffs.
Nill, 67, has seen his Dallas Stars reach the Western Conference finals for the third straight season. He is a two-time winner of this award (2023, 2024) and five-time finalist
Cheveldayoff, 55, has spent the last 14 seasons with the Winnipeg Jets, who captured the Presidents’ Trophy this season. He also was a finalist for the GM of the Year Award in 2018.
Zito, 60, is looking to guide the Florida Panthers to their third consecutive trip to the Stanley Cup Final. He has been a finalist for the GM of the Year Award in three straight years and four of the last five.