Latest news with #Cboe
Yahoo
3 hours ago
- Business
- Yahoo
Why Goldman Sachs Jumped Back into Lead Market Making
Goldman Sachs is retaking the lead. After an eight-year absence from lead market making, the Wall Street firm has taken on the role for the $35 million CG US Large Growth ETF (CGGG). It's a shift in strategy for Goldman, which exited the LMM role in hundreds of ETFs it supported back in 2017 to avoid high regulatory and operations costs and focus instead on issuing its own ETFs. With about 500 ETFs having launched in the US so far this year, however, Goldman may see it as the perfect opportunity to make some scratch on the spread as well as support the ETF industry. 'The addition of Goldman Sachs as a market maker is a net positive as these ETFs will need liquidity and orderly trading,' said Todd Rosenbluth, head of research at VettaFi. READ ALSO: Crypto ETFs Get Major Relief From SEC and ETF Sales: A Tale of Bitcoin and the S&P 500 Capital Idea Capital Group launched the actively managed CGGG at the end of June. Since then, it has taken in roughly $6.4 million in inflows, and its performance has risen about 6%, according to VettaFi data. Capital Group is excited to have Goldman as the fund's LMM. 'We're always looking to partner with high-quality liquidity providers and with so much activity and expected growth within the ETF category, it's great to see Goldman Sachs in the lead market maker role,' Scott Szever, head of ETF product and capital markets at Capital Group, said in a statement. Invest in Gold Thor Metals Group: Best Overall Gold IRA American Hartford Gold: #1 Precious Metals Dealer in the Nation Priority Gold: Up to $15k in Free Silver + Zero Account Fees on Qualifying Purchase Goldman declined to comment. Make or Break. Market makers play a crucial role in the ETF ecosystem, providing continuous liquidity by being ready to buy or sell shares at any time. In return, they profit from the spread between bid and ask prices, a dynamic that has attracted several major Wall Street players. Jane Street serves as LMM for more than 800 ETFs across the NYSE Arca, Cboe and Nasdaq, Bloomberg reported. Meanwhile Virtu, Susquehanna and Citadel cover about 1,750 funds combined. As those numbers suggest, there's quite a lot of profit in the infrastructure of the ETF industry: In the first quarter of the year, Citadel generated $3.4 billion in trading revenue. Meanwhile, Jane Street was estimated to have garnered more than $7 billion from trading. No wonder Goldman wants back in. This post first appeared on The Daily Upside. To receive exclusive news and analysis of the rapidly evolving ETF landscape, built for advisors and capital allocators, subscribe to our free ETF Upside newsletter. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
8 hours ago
- Business
- Yahoo
CBOE bids to fast-track $8bn XRP ETF investment boom
Exchanges in the US are looking to build an express lane for crypto exchange-traded funds, bypassing the Securities and Exchange Commission's case-by-case review process. A new proposal from Cboe would allow certain crypto-backed funds to be listed automatically if they meet standardised requirements. Invest in Gold Thor Metals Group: Best Overall Gold IRA Priority Gold: Up to $15k in Free Silver + Zero Account Fees on Qualifying Purchase American Hartford Gold: #1 Precious Metals Dealer in the Nation The proposal, filed on Wednesday, seeks to let funds qualify for listing if their underlying crypto assets have been trading as regulated futures for at least six months. Solana will meet that threshold in mid-September, setting the stage for fund approvals by early October if the proposal is finalised in time. XRP would likely follow shortly after. The filing also makes provisions for staking-enabled ETFs by requiring a liquidity risk management plan when more than 15% of a fund's assets are not readily redeemable. This is a likely nod to assets like Solana and Cardano, where staking plays a big role in returns. 'This is the beginning of the crypto ETP fall,' wrote lawyer Greg Xethalis, who flagged the filing on X. He noted that the SEC could approve pending Solana and XRP ETF applications under the new framework, or move independently ahead of the October 10 deadline. Bloomberg Intelligence analyst Eric Balchunas said the rule would open the door to crypto ETFs tied to a familiar list of tokens. 'It's about a dozen of the usual suspects,' he wrote on X, adding that final approvals are 'likely September to October for all.' While this filing only pertains to the Cboe, Xethalis said that major players like the Nasdaq and NYSE will soon follow with their own filings. Solana and XRP testing investor appetite Both Solana and XRP are already seeing early ETF traction. In April, Teucrium launched a leveraged XRP ETF that has since ballooned to nearly $400 million in net assets, dwarfing the firm's traditional agriculture-based products. The fund's 50% surge in July shows just how eager institutions are to gain XRP exposure. JPMorgan estimates that spot XRP ETFs could trigger up to $8 billion in inflows in their first year of trading. Solana is also making inroads. The Rex-Osprey Solana staking ETF, which began trading in early July, allows investors to earn yield while gaining SOL exposure. Analysts at Presto Research called it a 'litmus test' for altcoin ETF demand, saying $150 million in first-month inflows would mark a solid start. Crypto market movers Bitcoin has gained 0.2% in value over the past 24 hours and is trading at $118,660. Ethereum is up 1.2% in the same period to $3,865. What we're reading Roman Storm prosecutors attack privacy 'distraction' in closing arguments — DL News 3 big pieces of news in 24hrs — Milk Road Senator Lummis Introduces Bill to Let Crypto Count Toward Home Loans — Unchained Crypto lender Abra pauses withdrawals as dozens of customers fear their funds are gone — DL News Kyle Baird is DL News' Weekend Editor. Got a tip? Email at kbaird@ Sign in to access your portfolio
Cision Canada
2 days ago
- Business
- Cision Canada
PowerBank's 3.79 MW Geddes Solar Project Goes Live, Powering New Bitcoin Treasury Strategy
TORONTO, July 29, 2025 /CNW/ - PowerBank Corporation (NASDAQ: SUUN; Cboe CA: SUNN, FSE: 103), a leader in distributed solar energy, battery storage, and clean energy infrastructure across North America, is excited to announce that its largest owned-and-operated asset in the U.S.—the 3.79 MW Geddes Solar Power Project in New York State—is now fully operational. More than a milestone in renewable energy, this project marks the official launch of PowerBank's Bitcoin treasury strategy. "This is a pivotal moment for PowerBank," said Dr. Richard Lu, President and CEO. "Geddes isn't just our largest U.S. asset—it's our launchpad into a bold, dual-track strategy that fuses clean energy leadership with financial innovation. By deploying net cash generated by this project into Bitcoin, we are enhancing the value of our operating assets while aligning ourselves with a future-focused monetary reserve model." A Strategic Inflection Point – Energy + Bitcoin: Pioneering Treasury Strategy. Geddes is the first of potentially several PowerBank projects to support a digital asset reserve model, giving the Company exposure to Bitcoin as a non-correlated, asymmetric upside asset. Financial Flexibility. This approach allows PowerBank to retain earnings from high-performance assets like Geddes in a store of value with long-term appreciation potential. Environmental Transformation. By converting a capped landfill into a clean power station, PowerBank demonstrates how sustainability and innovation can converge for long-term value creation. Scalability. The Company is actively assessing expansion of this Bitcoin treasury strategy across additional solar and battery energy storage projects in its IPP (Independent Power Producer) portfolio. The Geddes Solar Power Operation Built on a repurposed landfill, the Geddes Project now delivers 3.79 MW of clean, renewable energy — enough to power approximately 450 homes annually — while transforming an underutilized site into a productive asset. But its value extends beyond green power. Net cash flows from the project will be allocated, at management's discretion, to the acquisition of Bitcoin, creating a hybrid strategy that blends energy generation with strategic digital asset investment. Solar Simplified handles all customer-facing activities for the Company's community solar projects, allowing it to focus on developing and expanding its renewable energy portfolio. Solar Simplified's expertise in acquisition, enrollment, and management ensures full project subscription and maximized revenue from day one. With a business model that aligns seamlessly with the Company's, this partnership drives sustainable growth, enabling the Company to accelerate development, bring more projects online each year, and create greater value for its business and the communities served by the Company. Additional Information: Bitcoin purchases will be funded through excess cash generated by the Geddes Project, after meeting all capital expenditures, debt service obligations, and operational requirements. Timing, size, and frequency of purchases will be determined by market conditions, Bitcoin pricing, cash needs, and regulatory factors. No Bitcoin has been purchased as of the date of this release. Custody and security frameworks are currently under evaluation and will be finalized prior to any acquisitions. About PowerBank Corporation PowerBank Corporation is an independent renewable and clean energy project developer and owner focusing on distributed and community solar projects in Canada and the USA. With over 100 MW of completed projects and a 1+ GW development pipeline across multiple North American markets, PowerBank is positioned as a high-growth player in the renewable energy sector. The Company develops solar and Battery Energy Storage System (BESS) projects that sell electricity to utilities, commercial, industrial, municipal and residential off-takers. The Company maximizes returns via a diverse portfolio of projects across multiple leading North America markets including projects with utilities, host off-takers, community solar, and virtual net metering projects. The Company has a potential development pipeline of over one gigawatt and has developed renewable and clean energy projects with a combined capacity of over 100 megawatts built. To learn more about PowerBank, please visit FORWARD-LOOKING STATEMENTS This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the Company's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. In particular and without limitation, this news release contains forward-looking statements pertaining to the Company's expectations regarding its industry trends and overall market growth; the Company's intention with respect to its Bitcoin treasury strategy, and the size of the Company's development pipeline. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release. Forward-looking statements are based on certain assumptions and analyses made by the Company in light of the experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate, and are subject to risks and uncertainties. In making the forward looking statements included in this news release, the Company has made various material assumptions, including but not limited to: obtaining the necessary regulatory approvals; that regulatory requirements will be maintained; general business and economic conditions; the Company's ability to successfully execute its plans and intentions; the availability of financing on reasonable terms; the Company's ability to attract and retain skilled staff; market competition; the products and services offered by the Company's competitors; that the Company's current good relationships with its service providers and other third parties will be maintained; and government subsidies and funding for renewable energy will continue as currently contemplated. Although the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and the Company cannot assure that actual results will be consistent with these forward-looking statements. Given these risks, uncertainties and assumptions, investors should not place undue reliance on these forward-looking statements. Whether actual results, performance or achievements will conform to the Company's expectations and predictions is subject to a number of known and unknown risks, uncertainties, assumptions and other factors, including those listed under "Forward-Looking Statements" and "Risk Factors" in the Company's most recently completed Annual Information Form, and other public filings of the Company, which include: risks inherent with investing in Bitcoin, including Bitcoin's volatility; the risks of implementing a new treasury diversification strategy; the Company may be adversely affected by volatile solar power market and industry conditions; the execution of the Company's growth strategy depends upon the continued availability of third-party financing arrangements; the Company's future success depends partly on its ability to expand the pipeline of its energy business in several key markets; governments may revise, reduce or eliminate incentives and policy support schemes for solar and battery storage power; general global economic conditions may have an adverse impact on our operating performance and results of operations; the Company's project development and construction activities may not be successful; developing and operating solar projects exposes the Company to various risks; the Company faces a number of risks involving Power Purchase Agreements ("PPAs") and project-level financing arrangements; any changes to the laws, regulations and policies that the Company is subject to may present technical, regulatory and economic barriers to the purchase and use of solar power; the markets in which the Company competes are highly competitive and evolving quickly; an anti-circumvention investigation could adversely affect the Company by potentially raising the prices of key supplies for the construction of solar power projects; foreign exchange rate fluctuations; a change in the Company's effective tax rate can have a significant adverse impact on its business; seasonal variations in demand linked to construction cycles and weather conditions may influence the Company's results of operations; the Company may be unable to generate sufficient cash flows or have access to external financing; the Company may incur substantial additional indebtedness in the future; the Company is subject to risks from supply chain issues; risks related to inflation; unexpected warranty expenses that may not be adequately covered by the Company's insurance policies; if the Company is unable to attract and retain key personnel, it may not be able to compete effectively in the renewable energy market; there are a limited number of purchasers of utility-scale quantities of electricity; compliance with environmental laws and regulations can be expensive; corporate responsibility may adversely impose additional costs; the future impact of any future global pandemic on the Company is unknown at this time; the Company has limited insurance coverage; the Company will be reliant on information technology systems and may be subject to damaging cyberattacks; the Company may become subject to litigation; there is no guarantee on how the Company will use its available funds; the Company will continue to sell securities for cash to fund operations, capital expansion, mergers and acquisitions that will dilute the current shareholders; and future dilution as a result of financings. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
Yahoo
3 days ago
- Business
- Yahoo
Bitcoin Volatility Alert: VIX's Bullish August Seasonality Points to Big Price Swings
Bitcoin (BTC) volatility bulls may soon get their wish because seasonal patterns in Cboe's Volatility Index (VIX) suggest Wall Street is poised for increased turbulence. The VIX measures the anticipated 30-day swings of the S&P 500 benchmark. Its historical pattern, according to shows a frequent August surge, often preceded by a decline in July. August stands out as having the highest average monthly gain, 13.68%, over the past 15 years, rising in 10 of those years, including a monumental 135% spike in 2015. History repeating itself? The VIX fell for a third straight month in July, extending the slide from April highs. It hit a five-month low of 14.92 on Friday, according to data source TradingView. If history is a guide, this decline is likely setting the stage for the August boom in volatility and risk aversion on Wall Street. The VIX, which has been nicknamed the Fear Gauge, spikes higher when stock prices decline and falls when they rise. In other words, the expected volatility boom on Wall Street could be marked by a stock market swoon, which could spill over into the bitcoin market. Bitcoin tends to track the sentiment on Wall Street, especially in the technology stocks, fairly closely. BTC's implied volatility indices have developed a strong positive correlation with the VIX, signaling a steady evolution into VIX-like fear gauges. Since November, BTC's 30-day implied volatility indices have declined sharply, ending the positive correlation with the spot while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
CNBC
24-07-2025
- Business
- CNBC
Best Stocks: A unique financial stock riding the options boom with a chart sent from heaven
(This is The Best Stocks in the Market , brought to you by Josh Brown and Sean Russo of Ritholtz Wealth Management.) Josh — In 1973, The Chicago Board of Trade launched a subsidiary that would allow traders to place bets on a new standardized contract based on stock prices. These contracts, similar to but separate from the CBOT's bread-and-butter commodity futures products, were called options. They carved out a single trading pit on the floor for these stock option contracts and standardized how they worked. At first, there were options on just sixteen publicly traded companies, like IBM. In due time, more were added. Stocks were extraordinarily volatile in the mid-1970s with back-to-back bear markets and lots of opportunities for both speculation and protecting portfolios. The business was a hit. When the early 1980's bull market got underway, this "Chicago Board Options Exchange" or CBOE (usually pronounced as C-Bow) grew into a hive of trader activity. In 1983, the first contract on a stock market index came along when the CBOE unveiled its S & P 100 options offering. If you've ever seen the ticker "OEX" cross the bottom of your CNBC screen, that's the one. Cboe Global Markets (CBOE) is now one of the best financial services businesses in the world and this week it made the Best Stocks in the Market list. Ever since the next generation of retail traders came along during the pandemic, it's been a bull run for options trading. In its July 3, 2025 report, Cboe said that June 2025 trading volume hit a new all-time record. They reported the highest ever quarterly average daily volume for S & P 500 options at 3.7 million contracts, and zero‑day-to‑expiry (0DTE) options at 2.1 million contracts. Zero days to expiration trading — which we refer to as 0DTE — continues to boom. Did you know that over 60% of S & P 500 option trades are 0DTE? It's wild given how new this type of contract is. Retail traders are estimated to be responsible for over half of this activity. Sean's going to give you the set-up on Cboe stock, which has been moving in a tightly wound, neat little uptrend all summer long. I'll be back at the end with a risk management comment. Best Stock Spotlight: Cboe Global Markets Inc (CBOE) On the list since: 7/22/2025 Sean — Cboe Global Markets (CBOE) made it onto the list this week. When I pulled up the chart, I knew I had to show Josh right away. The stock's lack of volatility is remarkable as you can see in the logarithmic chart since inception. The lack of volatility has given the stock a beta of 0.43 compared to the overall market's beta of 1.0, which means CBOE has about half the volatility of the S & P 500. For obvious reasons, this makes for an attractive risk-reward and many portfolio managers love building allocations with stocks like these. Despite its lack of volatility, CBOE has been anything but quiet. The stock has massively outperformed the S & P 500 since coming public 15 years ago, returning a cumulative 854% (inclusive of dividends) since inception vs. a 647% total return for the S & P 500, or 16% annualized vs 14% for the S & P 500. (data via YCharts). Ever since the trading boom of 2020, CBOE's fundamental outlook has been stellar. The increase in trading activity has led to an increase in the need for exchange-traded products as well as the underlying data tied to those products. S & P 500 options trading volume has been growing 8% a year over the last five years, while VIX options volume has been growing at a 15% annual clip. In addition to the increased popularity of its trading products, CBOE is also in the midst of adding more recurring, higher-quality subscription products so they can become less reliant on transaction volume over time. Cboe's non-transaction revenue business includes Data and Access Solutions (DnA), providing data, infrastructure, and global market access to its customers. The exchange's infrastructure and proprietary market data are getting leveraged into recurring revenue streams through subscription-based services. Unlike transaction-based revenues that fluctuate with market volatility, their DnA business provides steady, predictable income that complements the trading business. Said otherwise, the firm is leveraging higher-quality revenue. You can expect the market to award this improvement in "earnings quality" with a higher multiple. From 2020 through their last reported quarter, CBOE has grown revenues 5%, operating income 13%, and diluted EPS 14% on an annualized basis. CBOE is due to report next week on Friday, August 1st. Analysts expect Revenue of $575M up 12% year-over-year and EPS of $2.43, up 13% year-over-year. (Data via Quartr) Risk Management: Josh: If this were heaven, and not earth, this is what every stock chart would look like and we would just buy them all. You can see below how perfectly the buyers came in to save this name from a 200-day trend break during the market volatility in April. Investors in this name know that volatility is actually a good thing if you're the largest options exchange and clearing operation in the world. Earnings next week could produce a blip, which I would most likely ignore so long as the company does the number and guides up. For shorter-term traders, I'd use 220 as a pivot point. It retested that level in mid-June and bounced off it clean. If it gets below, there might be better set-ups elsewhere. Investors should obey the rising 200-day and check back every Friday close. DISCLOSURES: (None) All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL'S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. INVESTING INVOLVES RISK. EXAMPLES OF ANALYSIS CONTAINED IN THIS ARTICLE ARE ONLY EXAMPLES. THE VIEWS AND OPINIONS EXPRESSED ARE THOSE OF THE CONTRIBUTORS AND DO NOT NECESSARILY REFLECT THE OFFICIAL POLICY OR POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC. JOSH BROWN IS THE CEO OF RITHOLTZ WEALTH MANAGEMENT AND MAY MAINTAIN A SECURITY POSITION IN THE SECURITIES DISCUSSED. ASSUMPTIONS MADE WITHIN THE ANALYSIS ARE NOT REFLECTIVE OF THE POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC" TO THE END OF OR OUR DISCLOSURE. Click here for the full disclaimer.
