Fidelity

SEC approves first bitcoin investment funds after false start

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SEC approves first bitcoin investment funds after false start

The Securities and Exchange Commission (SEC) approved nearly a dozen exchange-traded funds (ETFs) holding bitcoin on Wednesday, the first time the agency has permitted the trading of funds directly invested in a cryptocurrency. The SEC approved 11 spot bitcoin ETFs from several major companies, including BlackRock, Fidelity and Grayscale Investments, as it faced down a … Read more

Elon Musk’s X is now worth less than one-third of what he bought Twitter for

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Elon Musk’s X is now worth less than one-third of what he bought Twitter for

In 2022, Elon Musk bought Twitter, now known as X, for $44 billion, and cut to over a year later, the social media company is worth about one-third of it. Fidelity, a mutual fund company that is also one of the investors in Musk’s X, has devalued its shares in the company.According to a recent … Read more