ARK Invest, the asset management firm led by Cathie Wood, has filed with U.S. regulators to launch two new cryptocurrency exchange-traded funds (ETFs) that would track the CoinDesk 20 — a benchmark of the most liquid digital assets, including bitcoin, ether, solana, XRP and cardano. Rather than holding crypto directly, the proposed ETFs would rely on cash-settled, regulated futures contracts to mimic the index's daily performance. While one fund will track the CoinDesk 20, the other will track that inde ...

Gold Market Insights - The price of gold has reached a record high of $5,100 per ounce, driven by investor demand for safe-haven assets amid political uncertainty [1] - Gold prices have surged nearly 90% since Donald Trump's second inauguration, reflecting a significant shift in market sentiment [2] - Analysts predict further increases in gold prices, with forecasts suggesting a potential high of $6,400 per ounce and an average of $5,375 over 2026 [3] Economic and Political Influences - Concerns over U.S. political stability, including threats of tariffs and potential government shutdowns, are contributing to the volatility in financial markets [2][8] - The new Japanese administration's plans for unfunded spending and tax cuts have raised fears among international investors, reminiscent of past economic crises [5][6] - The U.S. Federal Reserve's potential actions to weaken the dollar are seen as a factor that could further enhance gold's appeal as a store of value [9][10] Market Reactions - The recent rise in gold prices is described as the most spectacular in decades, comparable to historical events such as the oil shocks of the late 1970s [4] - The yen has shown some recovery against the dollar, influenced by speculation regarding the Federal Reserve's currency interventions [7] - The dollar's depreciation, losing almost 10% of its value against a basket of currencies last year, is expected to continue as the Fed considers interest rate cuts [11]

Group 1 - The core viewpoint of the news is the approval of the CITIC Securities - Chengdu Jiaozi Park Commercial Property Holding Real Estate Asset-Backed Special Plan, which aims to issue 450 million yuan [2] - The original rights holder of the plan is Chengdu Jiaozi Park Investment Holding Co., Ltd., which was established in August 2022 in Chengdu High-tech Zone [2] - The plan manager is CITIC Securities Co., Ltd., and the project has been officially accepted as of January 23, 2026 [2] Group 2 - Chengdu Jiaozi Park Investment Holding Co., Ltd. focuses on creating a highland for equity investment funds in Western China, actively implementing strategies to strengthen industrial chains and promote economic growth [3] - The company has established multiple funds in collaboration with well-known institutions such as LVMH, Meituan Longzhu, and others, targeting industries like electronic information, biomedicine, and digital economy [3] - The company promotes the establishment of dual GP funds around specific sectors such as artificial intelligence, satellite communication, and robotics, aiming to create a three-tiered industrial fund system [3]

Core Viewpoint - Blackstone Inc. is expected to report a decline in quarterly earnings and revenues, with earnings per share projected at $1.51, down 10.7% year over year, and revenues forecasted at $3.61 billion, down 12.9% year over year [1]. Earnings Estimates - The consensus EPS estimate has been revised downward by 0.1% over the past 30 days, indicating a reappraisal by analysts [2]. - Changes in earnings estimates are crucial for predicting investor reactions, as empirical research shows a strong correlation between earnings estimate revisions and short-term stock performance [3]. Revenue Projections - Analysts project 'Segment Revenues- Realized Principal Investment Income' to be $157.50 million, reflecting a significant increase of 514.9% from the prior-year quarter [5]. - 'Segment Revenues- Credit & Insurance- Total Management Fees, Net' is expected to reach $514.85 million, indicating a 27.5% increase year over year [5]. - 'Segment Revenues- Private Equity- Base Management Fees' is forecasted at $633.32 million, suggesting a 10.4% year-over-year increase [6]. - 'Segment Revenues- Multi-Asset Investing- Total Management Fees, Net' is estimated to be $141.90 million, reflecting a 14.2% increase from the prior-year quarter [6]. Assets Under Management - 'Fee-Earning Assets Under Management Rollforward - Private Equity' is estimated at $240.28 billion, up from $212.18 billion in the same quarter last year [7]. - 'Fee-Earning Assets Under Management Rollforward - Real Estate' is projected at $283.58 billion, compared to $278.92 billion a year ago [7]. - 'Fee-Earning Assets Under Management Rollforward - Credit & Insurance' is expected to reach $320.45 billion, up from $264.62 billion in the same quarter of the previous year [8]. - The average prediction for 'Fee-Earning Assets Under Management' is $929.32 billion, compared to $830.71 billion in the same quarter last year [8]. - 'Total Assets Under Management - Credit & Insurance' is forecasted to be $449.87 billion, up from $375.51 billion a year ago [9]. - 'Total Assets Under Management - Real Estate' is expected to reach $323.43 billion, compared to $315.35 billion last year [9]. - The overall 'Total Assets Under Management' is projected at $1,278.44 billion, up from $1,127.18 billion in the same quarter last year [10]. - 'Total Assets Under Management - Private Equity' is expected to be $410.13 billion, compared to $352.17 billion in the same quarter of the previous year [10]. Stock Performance - Over the past month, shares of Blackstone Inc. have returned -3.2%, while the Zacks S&P 500 composite has changed by +0.2% [11]. - Blackstone Inc. currently holds a Zacks Rank 3 (Hold), suggesting its performance may align with the overall market in the near future [11].

Core Viewpoint - BlackRock is expanding its presence in the cryptocurrency ETF market by planning to launch the iShares Bitcoin Premium Income ETF, which aims to provide income from bitcoin exposure [1]. Group 1: Fund Structure and Strategy - The proposed fund will actively manage bitcoin exposure, either directly or through shares of BlackRock's existing iShares Bitcoin Trust (IBIT), and will generate income by selling call options on that exposure [2]. - This fund will utilize a "covered-call" strategy, which is common in stock-based income funds, allowing it to generate income by selling the right to purchase its underlying assets at a fixed price [2][3]. - The fund will distribute the premiums generated from the covered-call strategy to investors as income, trading potential upside for income [3]. Group 2: Market Position and Performance - BlackRock's entry into the market is notable due to its scale and the success of IBIT, which has over $69.7 billion in assets, making it the dominant spot bitcoin ETF [4]. - BlackRock's bitcoin funds have become the firm's top revenue source, indicating strong market demand and performance [4]. - Other covered-call ETFs, such as YBTC, BTCI, and BAGY, have shown high distribution rates, but they may dilute net asset value (NAV) due to higher yields offered [5]. Group 3: Performance Comparison - Bitcoin-focused income ETFs have underperformed BTC, with BTCI down approximately 31.3% and YBTC losing 45% over the last 12 months, compared to a 14% drawdown in bitcoin [6]. - BAGY, which launched in late April 2025, has also seen a decline of 25% since its debut [6].

Core Viewpoint - BlackRock has filed for its Bitcoin Premium Income ETF with the SEC, coinciding with significant outflows from crypto ETPs, indicating a challenging market environment for cryptocurrency investments [1][6]. Company Summary - BlackRock has submitted the S-1 registration statement for its Bitcoin Premium Income ETF, which is set to be listed on the Nasdaq [2][8]. - The ETF will primarily hold Bitcoin (BTC), shares of the iShares Bitcoin Trust ETF, and cash, aiming to track BTC prices while generating premium income through an actively managed strategy involving call options [3][5]. - The fund will allow in-kind creations and redemptions, with Coinbase acting as the custodian for Bitcoin holdings and the Bank of New York Mellon for cash holdings [3]. Industry Summary - The filing comes at a time when crypto ETPs have experienced their largest weekly outflows since November 2022, totaling $1.73 billion, with U.S. crypto ETPs accounting for $1.8 billion of this figure [6][8]. - Bitcoin and Ethereum ETPs led the outflows, with $1.09 billion and $630 million respectively, driven by factors such as reduced expectations for a Fed rate cut and negative price momentum [7].

Core Insights - GCM Grosvenor has partnered with Model ML to enhance investment and operational workflows through AI technology [1][2][3] Group 1: Company Overview - GCM Grosvenor is a leading alternative asset management firm managing approximately $87 billion in assets across various strategies including private equity, infrastructure, real estate, credit, and absolute return [2][5] - The firm has over 50 years of experience in alternative investments and aims to deliver value for clients through a flexible investment platform [5] - GCM Grosvenor employs around 560 professionals and serves a global client base of institutional and individual investors [6] Group 2: Technology Integration - The partnership with Model ML aims to streamline complex processes while maintaining high standards for precision, governance, and risk control [2][3] - AI-powered workflows will be deployed to support high-impact use cases in the investment process, enhancing speed, governance, and overall quality [3][7] - Specific applications include automating pre-investment due diligence, data extraction from manager documents, and using Model ML's AutoCheck workflow to review financial documents for accuracy [7]

Core Viewpoint - Sprott Asset Management has announced an update to its at-the-market equity program to issue up to U.S.$1.0 billion of units of the Sprott Physical Uranium Trust in Canada [1] Group 1: ATM Program Details - The distributions under the ATM Program will follow an amended sales agreement dated December 6, 2024, involving Sprott Asset Management and several agents including Cantor Fitzgerald Canada Corporation, Virtu Canada Corp., BMO Nesbitt Burns Inc., and Canaccord Genuity Corp [2] - Sales of units will occur through "at-the-market" issuances on the Toronto Stock Exchange or other trading markets in Canada at prevailing market prices, which may vary [3] - The volume and timing of distributions will be determined at the Trust's discretion, with proceeds intended for acquiring physical uranium [4] Group 2: Offering Documents - The offering is made pursuant to a prospectus supplement dated January 26, 2026, to the Trust's Canadian short form base shelf prospectus dated January 22, 2026 [5] - The Offering Documents are accessible on the SEDAR+ website maintained by the Canadian Securities Administrators [5] Group 3: Company Overview - Sprott Asset Management is a wholly-owned subsidiary of Sprott and serves as the investment manager for the Trust, specializing in precious metals and critical materials investments [8] - Sprott operates globally with offices in Toronto, New York, Connecticut, and California, and its common shares are listed on the New York Stock Exchange and the TSX under the symbol "SII" [8]

Group 1: Gold Market Insights - Gold has reached a new all-time high price above $5,100 per ounce, confirming predictions from users on the Myriad platform that it would surpass $5,000 before Ethereum [1] - The price of gold increased by 65% in 2025 and has gained approximately 12% in the first three weeks of 2026 [4] - Goldman Sachs has forecasted that gold could reach $5,400 before the end of the year, indicating strong bullish sentiment in the gold market [2] Group 2: Ethereum Market Sentiment - 69% of users on Myriad believe that Ethereum is likely to drop to $2,500 before it can recover to $4,000, reflecting a bearish outlook on the cryptocurrency [2] - Ethereum has recently traded at $2,883 and has fallen more than 10% in the past week [4] - The closest Ethereum has come to surpassing its previous all-time high was $4,946.05 in August [4] Group 3: Market Dynamics and Influences - Gold tends to surge during periods of uncertainty, particularly when trade tensions escalate, as it is viewed as a safe haven asset [3] - In contrast, cryptocurrencies like Ethereum and Bitcoin have struggled to attract defensive flows, behaving more like risk assets rather than hedges against geopolitical stress [3] - Recent comments from President Trump regarding potential tariff hikes on Canada have contributed to the uncertainty in the market, influencing gold prices [5]

Core Insights - Michael Gray has extensive experience in capital markets and fixed income asset management, having founded Gray Capital Management LLC and previously served as Head of Taxable Fixed Income at Fidelity Investments [1] Group 1 - Michael Gray holds an MBA in Finance from Wharton and a BA in Economics from Union College, indicating a strong educational background in finance and economics [1]