The Bitcoin exchange-traded funds started by BlackRock Inc. and Fidelity Investments are gaining a liquidity edge over a larger rival from Grayscale Investments LLC, according to JPMorgan Chase & Co. strategists.
Bitcoin advanced past $46,000 to a one-month high, supported by signs of steady inflows into a batch of US funds for the token as well as growing attention on the so-called halving due in April.
JPMorgan Chase & Co. will exclude Egypt from local-currency bond indexes tracked by billions of dollars worth of emerging market funds, underscoring the pressure on the country to resolve dire shortages of foreign exchange.
The proposed leveraged buyout of Macy’s Inc. is a reminder that retail has been a notoriously tough sector for private equity, with debt of companies that were taken private in recent years falling to distressed levels.