Deadly attacks by Iran-backed Houthis on Saudi airports highlight widening fallout from Yemen conflict

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By AFP | Posted by TOE Saudi authorities said Wednesday three people were killed in attacks on two of the kingdom’s international airports, including in the capital Riyadh, after Yemen’s Houthis claimed to have fired on both transport hubs. The Iran-backed Houthis have claimed a wave of attacks on Saudi civilian infrastructure in recent weeks, which came as Riyadh-backed forces pressed a counter-offensive against the group’s territorial gains. Since Yemen’s civil war reignited in July, more than 200,000 people have been displaced within the country, the United Nations said Wednesday. The Houthis claimed an attack on Riyadh’s main airport, while the Saudi-led coalition — which backs Yemen’s internationally recognised government in its fight against the group — vowed retaliation. The Houthis later claimed another attack on Riyadh’s King Khalid International Airport on Thursday and repeated a warning — “...
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4 Bitcoin ETFs Get Nod From $190 Billion Wealth Manager

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Cetera Financial Group, a leading financial advisor Wealth Hub, has officially announced its endorsement of four spot Bitcoin Exchange-Traded Funds (ETFs). This approval paves the way for its network of financial professionals to incorporate these cryptocurrency funds into their clients’ portfolios.

The Institutional Bitcoin Wave Is Rolling In

Cetera, which manages assets exceeding $191 billion, is at the forefront of integrating digital asset products into traditional investment frameworks, highlighting the growing acceptance of BTC as a legitimate investment option. According to a press release, Cetera has introduced a comprehensive policy and guidance on the usage of BTC ETFs, emphasizing education and resources for its affiliates.

This initiative aims to equip financial professionals with the necessary tools to effectively navigate the complexities of Bitcoin investments. “We are prudently embracing Bitcoin ETFs and prioritized developing this important guidance,” stated Matt Fries, Cetera’s head of investment products and partner solutions.

The approved ETFs include Invesco Galaxy Bitcoin ETF (BTCO), Franklin Bitcoin ETF (EZBC), Fidelity Wise Origin Bitcoin Fund (FBTC), and Blackrock iShares Bitcoin Trust (IBIT), all of which are managed by seasoned ETF providers known for their innovative product strategies.

This strategic decision follows a notable increase in investor interest in BTC ETFs, with approximately 50 million people owning Bitcoin as of February 2024, marking a 20 million user increase from the previous year. Cetera’s move is indicative of a broader trend among wealth management firms to incorporate digital assets into their offerings, catering to the evolving needs of today’s investors.

The selection of these particular ETFs reflects Cetera’s preference for products from larger firms with established track records in traditional finance (TradFi). The ETFs managed by BlackRock, Invesco, Fidelity Investments, and Franklin Templeton collectively represent a significant portion of the market, with BlackRock’s iShares lineup alone managing over $2.7 trillion in assets.

Why Not All?

While Cetera has opened its doors to these four spot ETFs, it notably did not approve the Grayscale Bitcoin Trust ETF (GBTC) due to its higher fee structure, nor did it include the Ark 21Shares (ARKB) and the Bitwise (BITB), despite their substantial assets under management.

The market has seen a surge in the popularity of BTC ETFs, with the 10 US spot ETFs recording nearly $12 billion of net inflows in just nine weeks of trading. Cetera’s policy and guidance on BTC ETFs arrive at a pivotal moment, as more wealth managers and investment platforms are expected to follow suit, broadening access to crypto investments for a wider array of investors.

Bloomberg ETF expert James Seyffart commented via X, “Know next to nothing about Cetera but it’s a decent sized platform that just approved some of the new Bitcoin ETFs. […] Likely to continue to see stories like this over the coming months.”

Last month, Carson Group, a Nebraska-based registered investment adviser (RIA) with $30 billion assets under management (AUM) greenlighted the use of four spot BTC ETFs.

At press time, BTC traded at $67,790.

Bitcoin price

from Bitcoinist.com https://ift.tt/cydBUfY

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