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Cryptocurrency market tumbled on Thursday morning as Bitcoin (CRYPTO: BTC) fell over 3% in early Asian trading, triggering a wave of liquidations

Bitcoin Tumbles 3%, Ethereum Plunges Below $3,200: What Is Going On With ETFs?

Ethereum,Coin,And,Bitcoin,In,Background.,Cryptocurrency,Eth,And,Btc.

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Bitwise Bitcoin ETF Common Shares of Beneficial Interest

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The much-anticipated launch of Ethereum ETFs in the U.S. saw a promising start, attracting a combined net inflow of nearly $107 million on their first day.

Ethereum ETFs Shine On Day 1 With $107M Net Inflows — But What About The Bitcoin ETFs?

Outlook
2024 Outlook reaffirmed4 
Group underlying sales growth, adjusted operating profit and tax outlook for 2024 remain in line with market expectations. As guided, interest will be c.&pound;45m and free cash flow conversion 95-100%.
In terms of divisional guidance and phasing:
<ul>
<li>Expect improved growth momentum in the second half of 2024 with the growth of Higher Education and normalised comparators for the assessments businesses.</li>
<li>In Assessment &amp; Qualifications, we continue to expect low to mid-single digit sales growth for the year, with sales growth weighted to H2.</li>
<li>In Virtual Schools, we continue to expect sales to decline at a similar rate to 2023, given the previously cited loss of a larger partner school for the 2024/25 academic year. We expect Virtual Schools to return to growth in 2025 and beyond.</li>
<li>In Higher Education, we remain confident we will return to growth in the second half and for the full year. Growth in digital sales will continue to shift revenue recognition from Q3 to Q4.</li>
<li>In English Language Learning, we continue to expect high single digit sales growth and growth weighted to the second half given the outstanding performance in the first half of 2023. The growth will be driven mainly by Institutional, with PTE being flat to down.</li>
<li>In Workforce Skills, we expect to achieve high single digit sales growth.</li>
<li>Every 1c movement in &pound;:$ rate equates to approximately &pound;5m adjusted operating profit impact</li>
</ul>

Earnings

Guidance

Pearson Reaffirms 2024 Outlook: Sales Growth, Profit, And Tax In Line With Market Expectations; Expects Free Cash Flow Conversion Of 95-100%

Editor&#8217;s note: The article has been updated with Nvidia&#8217;s response.
Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is reportedly in the process of creating a new AI chip, designed to comply with U.S. export controls, specifically for the Chinese market.
What Happened: According to anonymous sources, Jensen Huang&#8217;s Nvidia is teaming up with Inspur, a significant distribution partner in China, to launch and distribute the new chip, provisionally named &#8220;B20.&#8221; The chip is a part of Nvidia&#8217;s &#8220;Blackwell&#8221; series, launched in March, and is set to be mass-produced later this year, Reuters reported on Monday. The B200, a chip within the series, is said to be 30 times faster than its predecessor at certain tasks.
This development follows Washington&#8217;s decision to tighten its controls on semiconductor exports to China in 2023. Since then, Nvidia has created three chips specifically for the Chinese market. The new chip could enhance Nvidia&#8217;s efforts to combat competition from Chinese tech giant Huawei and Tencent-backed startup Enflame.
China contributed to roughly 17% of Nvidia&#8217;s revenue in the year ending January, a decrease from 26% two years prior, due to U.S. sanctions. Despite a slow start, Nvidia&#8217;s most advanced chip for China, the H20, is anticipated to sell over 1 million units this year, generating over $12 billion, as per research group SemiAnalysis.
It is widely expected that the U.S. will continue to apply pressure on semiconductor-related export controls, with initial plans to impose restrictions around the most advanced AI Models.
Nvidia declined to comment on this.
See Also: <a href="https://www.benzinga.com/news/24/07/39830453/days-after-elon-musk-deemed-university-of-tokyos-idea-pointless-scientists-develop-smiling-robot-wit?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Days After Elon Musk Deemed University Of Tokyo&#8217;s Idea &#8216;Pointless,&#8217; Scientists Develop Smiling Robot With Living Skin</a>
Why It Matters: The development follows another report that revealed Google and Microsoft are providing<a href="https://www.benzinga.com/news/24/07/39822184/google-and-microsoft-provide-nvidia-chip-access-to-chinese-firms-despite-u-s-restrictions-report"> Chinese companies access</a> to Nvidia AI chips through data centers outside China, despite U.S. restrictions. This was seen as a workaround to the Biden administration&#8217;s restrictions aimed at preventing Chinese firms from utilizing U.S. technology for artificial intelligence, particularly advanced semiconductors.
In July, Nvidia was on track to <a href="https://www.benzinga.com/government/24/07/39646273/is-nvidia-defying-us-export-controls-whats-going-on">sell $12 billion</a> of artificial intelligence chips in China this year despite the U.S. export controls.
Back in May, the Chinese government<a href="https://www.benzinga.com/markets/equities/24/05/38809034/china-urges-tech-giants-to-shift-away-from-nvidia-and-other-foreign-chip-makers-boost-domestic-a"> had urged its tech giants</a> to reduce their reliance on foreign-made chips, particularly those from Nvidia, and increase their purchase of domestic AI chips.
Price Action: As per <a href="https://pro.benzinga.com">Benzinga Pro</a>, Nvidia closed at $117.93 on Friday.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39872729/nvidias-potential-50-trillion-valuation-tesla-and-xais-ai-expansion-plans-and-microsofts-trillion-do?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia&#8217;s Potential $50 Trillion Valuation, Tesla And xAI&#8217;s AI Expansion Plans, And Microsoft&#8217;s Trillion-Dollar Tech: This Week In Artificial Intelligence</a></li>
</ul>
Image via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

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NVDA

Nvidia Reportedly Developing A New Version Of Its Flagship AI Chip For Chinese Market Amid US Export Restrictions (UPDATED)

Pearson H1 2024 Adj. EPS 25.6p Flat YoY, Revenue £1.754B Down From £1.879B YoY

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ESLT

Elbit Systems Secures $190M Contract To Supply Iron Sting Guided Mortar Munition To The Israeli Ministry Of Defense

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) advocate Vivek Ramaswamy predicted at least a 1% jump in former President Donald Trump's vote share following his massive support for the cryptocurrency industry at a recent conference.
What Happened: Ramaswamy, who was in the fray for a while as the potential Republican presidential candidate for the upcoming elections, said in an X post Sunday that pro-Bitcoin and pro-cryptocurrency voters, who may not be represented in polls, may rally around Trump in this year&#8217;s elections.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">2 predictions: 1. Trump will enjoy a boost from pro-Bitcoin &amp; pro-crypto voters that doesn't show up in the polling, by at least 1% or more. 2. Kamala Harris will now scramble to come up with some phony "digital asset" policy framework to pander to pro-crypto voters. <a href="https://t.co/3zWF079bPV">pic.twitter.com/3zWF079bPV</a>
&mdash; Vivek Ramaswamy (@VivekGRamaswamy) <a href="https://twitter.com/VivekGRamaswamy/status/1817327179685921094?ref_src=twsrc%5Etfw">July 27, 2024</a></blockquote>
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Ramaswamy posted a short video of Trump's keynote address at the Bitcoin 2024 conference, where the former President can be seen acknowledging the growing cryptocurrency demographic, and the need to be "nice" to them.
At the same time, the Republican took a stab at Democratic presidential nominee Kamala Harris, saying that the incumbent vice president would devise a &#8220;phony&#8221; policy to win back the cryptocurrency vote.
See Also:<a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39359780/dogecoin-shiba-inu-floki-are-dino-coins-says-trader-he-likes-these-3-other-meme-coins-as-b?itm_source=parsely-api"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40002734/trump-says-bitcoin-will-skyrocket-like-never-before-if-he-returns-to-the-white-house-promi">Trump Says Bitcoin Will &#8216;Skyrocket Like Never Before&#8217; If He Returns To The White House, Promises To Fire SEC Chair Gary Gensler On Day 1</a>
Why It Matters: Ramaswamy, a biotech entrepreneur, <a href="https://www.benzinga.com/general/politics/23/12/36405099/trumps-new-buddy-in-2024-race-ramaswamy-catches-his-eye-despite-tv-ad-pullback-he-will-i-am-sure">announced his campaign</a> for the presidency in the 2024 election and was viewed as a potential candidate who could defeat Trump in the primary.
Eventually, Trump rose to become the Republican candidate, and <a href="https://www.benzinga.com/news/24/03/37810694/trump-rules-out-vivek-ramaswamy-as-vp-but-the-bitcoin-advocate-could-still-end-up-in-an-important-po">Ramaswamy also failed to secure the vice-presidential spot</a>. 
Ramaswamy has been vocal about his concerns regarding Central Bank Digital Currencies, seen as an anathema by cryptocurrency advocates.
During the recent Bitcoin 2024 conference, Trump promised to end efforts by the U.S. government to create a CBDC. Additionally, he advocated for setting up a national Bitcoin stockpile and laid out plans to make the country the cryptocurrency capital of the world.
Price Action: At the time of writing, Bitcoin was trading at $69,752.48, rising 3.49% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. 
Image via Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40002999/bitcoin-ethereum-dogecoin-move-sideways-as-trump-raises-pro-crypto-pitch-why-does-this-ana">Bitcoin, Ethereum, Dogecoin Move Sideways As Trump Raises Pro-Crypto Pitch &#8211; Why Does This Analyst Think Longing King Crypto Could Soon Be A Good Option?</a></li>
</ul>

Politics

Markets

Pro-Bitcoin Demographic Will Boost Trump's Vote Share By At Least 1%, Predicts Vivek Ramaswamy

Through this partnership, Palantir Foundry and Palantir Artificial Intelligence Platform (AIP) will support TES in supply chain management, simulation and scenario modeling for investment optimization, site selection, asset management, carbon emissions tracking, and modeling the energy transformation pipeline.

PLTR

Palantir And Tree Energy Solutions Announce Multi-Year AI Partnership To Accelerate Global Decarbonization Efforts

Elon Musk&#8216;s SpaceX resumed launch activities over the weekend after a <a href="https://www.benzinga.com/news/24/07/39977028/elon-musks-spacex-to-resume-launch-operations-two-weeks-after-mishap-involving-20-starlink-satellite">two-week-long pause</a> with three back-to-back Starlink mission launches. 
What Happened: SpaceX launched three back-to-back Starlink missions on Saturday and Sunday, taking 67 Starlink satellites in total to low-Earth orbit. While two of the missions were launched from Florida, the third was launched from California. 
The three launches come after a two-week-long pause. 
SpaceX launched Falcon 9 with 20 Starlink satellites from California on July 11. However, the Starlink satellites were deployed in a&nbsp;<a href="https://www.benzinga.com/news/24/07/39766325/starlink-satellites-from-thursdays-launch-will-fully-demise-in-earths-atmosphere-says-elon-musks-spa" target="_blank" rel="noreferrer noopener">lower-than-intended orbit&nbsp;</a>owing to an issue with the rocket&#8217;s second-stage engine. The company's launch operations have been on hold since.
The resumption follows an investigation by the company into the root cause of the mishap with oversight from the Federal Aviation Administration (FAA). Necessary design changes have also been deployed to prevent a recurrence of the issue, SpaceX said last week. 
Musk Rejoices: &#8220;Back in the saddle!&#8221; SpaceX CEO Musk wrote on X after Saturday&#8217;s launch.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Back in the saddle!
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1817095154416619622?ref_src=twsrc%5Etfw">July 27, 2024</a></blockquote>
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The CEO also congratulated the team at SpaceX on Sunday for the three successful back-to-back launches.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Congrats to the <a href="https://twitter.com/SpaceX?ref_src=twsrc%5Etfw">@SpaceX</a> Falcon team on completing 3 successful launches this weekend!
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1817565274377203761?ref_src=twsrc%5Etfw">July 28, 2024</a></blockquote>
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Why It Matters:&nbsp;SpaceX&nbsp;<a href="https://www.benzinga.com/news/24/07/39612042/elon-musks-spacex-launches-67-missions-in-first-half-of-2024-trailing-own-targets" target="_blank" rel="noreferrer noopener">completed 67 missions</a>&nbsp;using its Falcon launch vehicles as of the end of the second quarter, with its Falcon 9 workhorse alone accounting for 66 launches.&nbsp;&nbsp;The company is looking to launch 144 times in 2024, averaging twelve times per month.
With the three launches over the weekend, SpaceX has completed six missions in July. 
Starlink is the satellite internet segment of Musk&#8217;s SpaceX. It achieved a&nbsp;<a href="https://www.benzinga.com/news/23/11/35583773/spacex-ceo-elon-musk-says-starlink-business-has-achieved-breakeven-cash-flow-is-an-ipo-on-the-cards" target="_blank" rel="noreferrer noopener">breakeven cash flow</a>&nbsp;in November. 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
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<li><a href="https://www.benzinga.com/news/24/07/39979702/return-of-astronauts-aboard-boeings-starliner-uncertain-even-after-50-days-of-launch-nasa-hints-at-p">Return Of Astronauts Aboard Boeing&#8217;s Starliner Uncertain Even After 50 Days Of Launch: NASA Hints At Possibility Of Using SpaceX&#8217;s Dragon Spacecraft To Bring Them Back</a></li>
</ul>
Photo courtesy: SpaceX

SPACE

Elon Musk's SpaceX Resumes Big, Launches Three Starlink Missions Over Weekend, Placing 67 Satellites In Low Earth Orbit

Nicolas Maduro has secured a third term as the President of Venezuela. This outcome has sparked concerns about potential electoral fraud.
What Happened: The National Electoral Council of Venezuela declared Maduro the winner with 51% of the vote, despite multiple exit polls predicting an opposition victory, reported Reuters. Maduro&#8217;s main rival, Edmundo Gonzalez, was said to have secured 44% of the vote.
Maduro, addressing his supporters at the presidential palace, hailed his victory as a testament to peace and stability. He also pledged to initiate a &#8220;great national dialogue.&#8221;
However, U.S. Secretary of State Antony Blinken expressed &#8220;serious concerns&#8221; about the election results, stating that they do not reflect the will of the Venezuelan people. Blinken has called for a detailed tabulation of votes by the electoral authorities.
Despite the opposition&#8217;s allegations of electoral malpractice, the CNE has reported a 59% voter turnout. The opposition, which has been calling for change after 25 years of socialist rule, has urged the military to respect the election results.
Tesla Inc. CEO Elon Musk made a series of comments on Venezuela&#8217;s election developments. In one of his posts on X, he quoted a news piece representing Javier Milei, President of Argentina, stating, &#8220;Dictator Maduro, get the hell out!" Musk also captioned his post in similar lines, stating, &#8220;Shame on Dictator Maduro.&#8221; 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Shame on Dictator Maduro <a href="https://t.co/yad3Itps5N">https://t.co/yad3Itps5N</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1817776665906254018?ref_src=twsrc%5Etfw">July 29, 2024</a></blockquote>
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Cuban President Miguel Díaz-Canel warmly congratulated his &#8220;brother&#8221; Maduro on his victory in a post on X, reaffirming Cuba&#8217;s ongoing commitment to supporting the Bolivarian and Chavista Revolution.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Hoy triunfó la dignidad y el valor del pueblo venezolano sobre presiones y manipulaciones. Transmito al hermano presidente <a href="https://twitter.com/NicolasMaduro?ref_src=twsrc%5Etfw">@NicolasMaduro</a> nuestras afectuosas felicitaciones por esta victoria histórica y el compromiso de <a href="https://twitter.com/hashtag/Cuba?src=hash&amp;ref_src=twsrc%5Etfw">#Cuba</a> de estar junto a la Revolución Bolivariana y Chavista.
&mdash; Miguel Díaz-Canel Bermúdez (@DiazCanelB) <a href="https://twitter.com/DiazCanelB/status/1817777032413004064?ref_src=twsrc%5Etfw">July 29, 2024</a></blockquote>
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In another post, Musk highlighted a post from End Wokeness, a popular page on X, which pointed out a significant difference between exit polls and the actual election outcome. Exit polls indicated Maduro&#8217;s lead of only 31% over the opposition, but the actual result was 51.2%, highlighting a fabrication in the election results. Musk quoted it, saying, &#8220;What a travesty.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">What a travesty <a href="https://t.co/OOfhyXs4Y3">https://t.co/OOfhyXs4Y3</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1817790567989829826?ref_src=twsrc%5Etfw">July 29, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/24/07/39999519/trump-vs-harris-latest-survey-indicates-positive-signs-for-this-candidate?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs. Harris: Latest Survey Indicates Positive Signs For This Candidate</a>
Why It Matters: The election in Venezuela has been closely watched by the international community. Just hours before the election, U.S. Vice President and presumptive Democratic nominee for the 2024 Presidential Elections, Kamala Harris, <a href="https://www.benzinga.com/news/24/07/40002632/kamala-harris-the-will-of-the-venezuelan-people-must-be-respected-as-socialist-nicol-s-maduro-faces">stressed the importance of respecting the will of the Venezuelan people</a>. Her comments came amid concerns about potential electoral fraud.
Maduro&#8217;s victory, despite the opposition&#8217;s allegations, is likely to further strain the already tense relations between Venezuela and the United States.
Read Next: <a href="https://www.benzinga.com/news/24/07/39999465/trump-raises-eyebrows-with-controversial-remark-at-florida-event-in-four-years-you-dont-have-to-vote?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Raises Eyebrows With Controversial Remark At Florida Event: &#8216;In Four Years, You Don&#8217;t Have To Vote Again&#8217;</a>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Elon Musk Calls Venezuela Elections A 'Travesty' As Nicolas Maduro Wins Third Term Amid Fraud Allegations — Blinken Expresses 'Serious Concerns'

SVMH

Reported Friday, SRIVARU Receives Nasdaq Delisting Notification, Plans To Appeal Decision

Apple Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)&nbsp;first iPhone 16 models <a href="https://www.benzinga.com/news/24/05/39060951/as-apples-iphone-16-launch-nears-report-says-more-than-half-of-worlds-smartphones-will-be-ai-capable">shipped&nbsp;to consumers</a> this year will&nbsp;possibly not include&nbsp;the new AI features and&nbsp;will&nbsp;require a software update weeks&nbsp;later.
What Happened: Apple plans to introduce&nbsp;Apple Intelligence to customers as&nbsp;part of software updates by October,&nbsp;a few <a href="https://www.benzinga.com/news/24/07/39768442/6-new-hidden-iphone-features-you-probably-havent-discovered-yet-on-ios-18">weeks after the initial</a> iOS 18 and iPadOS&nbsp;18 releases planned for September, <a href="https://www.bloomberg.com/news/articles/2024-07-28/apple-intelligence-to-miss-initial-release-of-upcoming-ios-18-ipados-overhauls?srnd=phx-technology">reported</a> Bloomberg, citing people with knowledge of the matter.
Apple intends&nbsp;to make Apple Intelligence available&nbsp;to software developers for early testing&nbsp;as soon as this week&nbsp;via iOS 18.1 and iPadOS&nbsp;18.1 betas. 
This approach is unusual for Apple, which typically does not&nbsp;release previews of follow-up updates&nbsp;until&nbsp;the initial version of the&nbsp;new software generation is publicly released.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/07/39984404/apple-joins-meta-and-google-pledges-support-for-bidens-ai-regulations?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple Joins Meta And Google, Pledges Support For Biden&#8217;s AI Regulations</a>
Apple&#8217;s decision to separate the AI&nbsp;features from the initial launch&nbsp;of&nbsp;iOS 18 and iPadOS 18&nbsp;was driven by concerns&nbsp;over the stability of Apple&nbsp;Intelligence features, the report noted.
The company requires&nbsp;support from developers to help&nbsp;resolve&nbsp;issues and test features on&nbsp;a larger scale. Even when Apple Intelligence launches&nbsp;with&nbsp;iOS 18.1 and iPadOS 18.1,&nbsp;it will be missing some&nbsp;features.
The company plans&nbsp;to roll out its full&nbsp;set of Apple Intelligence features&nbsp;via multiple updates to iOS&nbsp;18 across the end of&nbsp;2024 and through the first&nbsp;half of 2025, the report stated.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: <a href="https://www.benzinga.com/news/24/06/39256948/tim-cook-announces-apple-intelligence-for-iphones-calls-it-next-big-step-tremendously-excited">Apple Intelligence includes</a> a&nbsp;range of features, including prioritization&nbsp;of key notifications, web page, and voice note summaries, tools&nbsp;to improve writing, a revamp&nbsp;to Siri, and integration of&nbsp;OpenAI's ChatGPT.
Earlier this month,&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39669649/apples-path-to-4-trillion-iphone-16-ai-supercycle-sparks-analyst-optimism">analysts predicted</a>&nbsp;a potential &#8220;AI supercycle&#8221; for Apple, driven by the iPhone 16&#8217;s AI features. Reports last week revealed that <a href="https://www.benzinga.com/markets/equities/24/07/39954971/apple-drops-from-3rd-to-6th-in-china-amid-intensifying-competition-huawei-shipments-surge-41-in-">Apple&#8217;s market share in China</a>&nbsp;has been declining. 
The company&#8217;s latest ranking in the country has dropped from third to sixth place.
Meanwhile, previously it was also reported, that the Cupertino, California-based <a href="https://www.benzinga.com/news/24/07/39904665/apple-plans-a18-chip-integration-to-bring-ai-features-to-iphone-16-its-entry-level-variants-and-ipad">tech giant plans to integrate</a> its A18 chip into its upcoming entry-level iPhones and iPads to run Apple Intelligence.
Image Courtesy — Apple
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/news/24/07/39926002/after-donald-trumps-recent-taiwan-statement-sent-shockwaves-japans-pm-kishida-reveals-new-bill-to-bo?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">After Donald Trump&#8217;s Recent Taiwan Statement Sent Shockwaves, Japan&#8217;s PM Kishida Reveals New Bill To Boost AI And Chipmaking With Domestic Investment</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Media

AAPL

First iPhone 16 Models May Not Have Apple Intelligence Features As Cupertino Delays AI Integration For iOS 18 Overhaul: Report

LUXH

Reported Friday, LuxUrban Hotels Prices Its ~$1.74M Public Offering Of 11,573,333 Common Shares At $0.15/Share

CTSH

Reported Sunday, Unitywater Taps Cognizant For ICT Support Managed Services For The Water Provider In Strategic Five-Year Deal

Dr Reddy's Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDY#NYSE">RDY</a>) reported quarterly earnings of ₹83.46 per share which beat the analyst consensus estimate of $76.83 by 8.63 percent. This is a 0.9 percent decrease over earnings of ₹84.22 per share from the same period last year. The company reported quarterly sales of ₹76.727 billion which beat the analyst consensus estimate of ₹72.830 billion by 5.35 percent. This is a 13.87 percent increase over sales of ₹67.384 billion the same period last year.

Earnings Beats

Dr Reddy's Laboratories Q1 2025 GAAP EPS ₹83.46 Beats ₹76.83 Estimate, Sales ₹76.727B Beat ₹72.830B Estimate

Renowned economist Peter Schiff has taken a swipe at former President Donald Trump and MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) co-founder Michael Saylor&#8217;s &#8216;never sell your Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)&#8217; stance, questioning the logic behind the strategy.
What Happened: On Sunday, in a post on X, Schiff expressed skepticism towards the idea of retaining Bitcoin. He questioned the point of owning Bitcoin if no one ever sells it, comparing it to living in poverty while dying and holding a large amount of the cryptocurrency.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Both <a href="https://twitter.com/saylor?ref_src=twsrc%5Etfw">@saylor</a> and <a href="https://twitter.com/hashtag/Trump?src=hash&amp;ref_src=twsrc%5Etfw">#Trump</a> say &quot;never sell your <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>.&quot; If that&#39;s true and no one who buys Bitcoin ever sells any, what&#39;s the point of owning it? What&#39;s the appeal of living in poverty, dying with a big stack of Bitcoin, with successive generations of heirs repeating the process?
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1817608449917694101?ref_src=twsrc%5Etfw">July 28, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
In another post, he pointed out what he perceives as flawed logic in the argument that Bitcoin&#8217;s value will skyrocket due to the U.S. inflating away its national debt. Schiff argued that the U.S. government could buy Bitcoin now and sell it in 20 years to repay the National Debt without creating inflation.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Noticed the flawed logic. <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> will go to millions per token because the U.S. will have to inflate away it&#39;s exploding <a href="https://twitter.com/hashtag/NationalDebt?src=hash&amp;ref_src=twsrc%5Etfw">#NationalDebt</a>. But the U.S. government will buy Bitcoin now, then sell it in 20 years to legitimately repay the National Debt, without creating <a href="https://twitter.com/hashtag/inflation?src=hash&amp;ref_src=twsrc%5Etfw">#inflation</a>.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1817684801522147583?ref_src=twsrc%5Etfw">July 28, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39999062/benzinga-bulls-and-bears-tesla-amc-meta-and-crypto-analyst-predicts-dogecoin-will-follow-h?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">One Crypto Is Poised To Outperform Bitcoin, Says Crypto Expert</a>
Why It Matters: Schiff&#8217;s comments come in response to Trump&#8217;s <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40001426/trump-aims-to-make-us-crypto-capital-of-the-planet-well-get-it-done">recent advocacy for a strategic national cryptocurrency stockpile.</a> During his keynote speech at the Bitcoin 2024 Conference, Trump assured that if he were to return to the presidency, the U.S. government would retain its Bitcoin holdings. 
The presidential nominee also stated that Bitcoin would <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40002734/trump-says-bitcoin-will-skyrocket-like-never-before-if-he-returns-to-the-white-house-promi">skyrocket like &#8220;never before&#8221; if he came back to power</a> and promised to fire current SEC Chair&nbsp;Gary Gensler&nbsp;on Day 1 of his tenure.
Michael Saylor was also one of the speakers at the conference and he stunned the cryptocurrency community by forecasting that the King Crypto would hit a staggering $13 million by 2045 in a base case scenario, and nearly $49 million in a bull case.
Price Action: At the time of writing, Bitcoin was trading at $68,693.74, up 0.89% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. Trump-themed Maga Coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>) was up 0.26%. Shares of MicroStrategy closed 9% higher at $1,752.71 during Friday's trading session.
Photo courtesy: Gage Skidmore on Flickr
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40001633/scaramucci-i-agree-with-every-single-thing-trump-has-said-on-bitcoin?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Scaramucci: &#8216;I Agree With Every Single Thing&#8217; Trump Has Said On Bitcoin</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

$TRUMP

MSTR

Peter Schiff Confronts Donald Trump And Michael Saylor's 'Never Sell Your Bitcoin' Strategy: 'What's The Point Of Owning It?'

Outlook 
Philips reiterates its confidence in delivering the 2025 plan, acknowledging that uncertainties remain. For the full year 2024, Philips continues to expect 3-5% comparable sales growth, an Adjusted EBITA margin of 11-11.5%, and free cash flow of EUR 0.9-1.1 billion. 
The outlook excludes the potential impact of the ongoing Philips Respironics-related legal proceedings, including the investigation by the US Department of Justice

Koninklijke Philips Reiterates 2024 Outlook: Continues To Expect 3-5% Comparable Sales Growth And Adjusted EBITA Margin Of 11-11.5%; Sees Free Cash Flow Of EUR 0.9B-1.1B

Koninklijke Philips Q2 Comparable Order Intake Grew 9% And 3% In H1 2024

Koninklijke Philips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHG#NYSE">PHG</a>) reported quarterly earnings of €0.30 per share which beat the analyst consensus estimate of €0.25 by 20 percent. This is a 11.11 percent increase over earnings of €0.27 per share from the same period last year. The company reported quarterly sales of €4.462 billion which beat the analyst consensus estimate of €4.430 billion by 0.72 percent. This is a 8.38 percent decrease over sales of €4.870 billion the same period last year.

Koninklijke Philips Q2 2024 Adj EPS €0.30 Beats €0.25 Estimate, Sales €4.462B Beat €4.430B Estimate

Jim Cramer, the host of CNBC&#8217;s &#8220;Mad Money,&#8221; has highlighted the <a href="https://www.benzinga.com/news/earnings/24/07/39993819/tech-stocks-slide-on-earnings-us-economy-flexes-muscles-small-cap-rally-continues-this-week-in-the-">upcoming earnings reports</a> from major tech companies as a critical turning point for the &#8220;great rotation&#8221; in the stock market.
What Happened: Cramer, in his recent <a href="https://www.cnbc.com/2024/07/28/jim-cramer-great-rotation-faces-big-test-with-big-tech-earnings.html">article</a>, pointed out that the upcoming earnings reports from tech giants like Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), and Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) will be a crucial test for the &#8220;great rotation&#8221; theory.
The &#8220;great rotation&#8221; refers to the movement of investors away from large-cap technology stocks and into small-cap stocks. This shift has been a significant trend in the stock market over the past few months.
Cramer emphasized that the market has been filled with speculative theories about the performance of these tech giants, but the upcoming earnings reports will provide the real facts.
He also noted that the recent earnings reports from Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) and Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) were met with disappointment, despite exceeding expectations. This, he suggests, is a sign that the market may not react as expected to the upcoming tech earnings.
&#8220;If the so-called "great rotation" out of megacap technology stocks into small caps that began earlier in July hadn't been at its zenith, I think both stocks would have rallied,&#8221; Cramer wrote. 
See Also: <a href="https://www.benzinga.com/markets/equities/24/07/39970069/investors-go-all-in-on-small-caps-pour-over-6-billion-into-russell-2000-etf-this-month-they-will?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Investors Go All In On Small Caps, Pour Over $6 Billion Into Russell 2000 ETF This Month: They &#8216;Will Return To Larger-Cap Alternatives,&#8217; Veteran Analyst Says</a>
Why It Matters: The tech earnings season began with disappointments, as shares of the &#8220;Magnificent Seven&#8221; companies declined during the last trading week. Alphabet Inc. reported <a href="https://www.benzinga.com/news/earnings/24/07/39993819/tech-stocks-slide-on-earnings-us-economy-flexes-muscles-small-cap-rally-continues-this-week-in-the-">stronger-than-expected</a> earnings and revenue but missed analysts' targets on YouTube advertising revenue. 
This led to the worst week of the year for the Google parent company&#8217;s stock. Similarly, Tesla Inc. <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39950739/tesla-apples-lackluster-reports-cause-hair-trigger-for-investors-to-rethink-tech-he">missed quarterly earnings</a> forecasts due to thinner profit margins impacted by lower vehicle prices and restructuring charges, causing shares to fall 12.3%.
As the second-quarter earnings season approaches, Amazon.com Inc., Uber Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>), and Alphabet Inc. are <a href="https://www.benzinga.com/news/large-cap/24/07/40001668/ford-stellantis-and-dell-are-among-top-12-large-cap-losers-last-week-july-21-july-27-are-the-other">emerging as standout picks</a>. JPMorgan analyst Doug Anmuth highlights these companies as top picks, despite the mixed performance of the internet sector so far this year.
Cathie Wood, the CEO of ARK Invest, has predicted a potential <a href="https://www.benzinga.com/markets/equities/24/07/39830547/why-cathie-wood-is-betting-on-small-cap-stocks-triumphing-over-magnificent-six-amid-restrictive-">shift in the equity market</a>, favoring small-cap stocks over large-cap tech companies. This forecast is based on the current "restrictive" monetary policy of the Federal Reserve, as outlined in a recent investor letter. 
Read Next: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39984123/jim-cramer-is-mystified-by-five-below-predicts-crowdstrike-is-going-to-bottom-here?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jim Cramer Is &#8216;Mystified&#8217; By Five Below, Predicts CrowdStrike &#8216;Is Going To Bottom Here&#8217;</a>
Image Via Pixabay
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Equities

AMZN

GOOG

GOOGL

MSFT

TSLA

UBER

Jim Cramer Says Tech Earnings Crucial Test For 'Great Rotation' Theory As Key Reports From Microsoft, Apple, Amazon, And Meta Loom On the Horizon

In an interesting turn of events, lesser-known Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)-labeled coins outperformed the apex cryptocurrency in 24-hour gains.
What Happened: Bitcoin Cash spiked over 7% in the last 24 hours, becoming the market's second-best-performing cryptocurrency.&nbsp;
The $8-billion market cap coin soared to a one-month high, witnessing a 40% jump in trading volumes.&nbsp;
Meanwhile, Bitcoin SV lifted nearly 4% during the day, recovering the losses made during the past week.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 11:00 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin Cash (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bch/usd">BCH</a>)</td>
<td>+7.72%</td>
<td>$426.48</td>
</tr>
<tr>
<td>Bitcoin SV (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BSV</a>)</td>
<td>+3.97%</td>
<td>$47.67</td>
</tr>
</tbody>
</table>
</figure>
Interestingly, King Crypto remained <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40002999/bitcoin-ethereum-dogecoin-move-sideways-as-trump-raises-pro-crypto-pitch-why-does-this-ana">little changed</a> over the day, rising just 0.87% over the last 24 hours even as Trump announced that he would sack SEC Chair Gary Gensler, viewed by some as hostile to the cause of cryptocurrencies, on Day 1 of entering office. "I will appoint a new SEC chairman who believes America should build the future and not block the future."
Bitcoin Cash is a result of a hard fork of the original Bitcoin blockchain in 2017 due to differences in the community over proposed upgrades. A year later, Bitcoin Cash underwent its own fork, leading to the creation of Bitcoin SV.
See Also:<a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39359780/dogecoin-shiba-inu-floki-are-dino-coins-says-trader-he-likes-these-3-other-meme-coins-as-b?itm_source=parsely-api"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40002734/trump-says-bitcoin-will-skyrocket-like-never-before-if-he-returns-to-the-white-house-promi">Trump Says Bitcoin Will &#8216;Skyrocket Like Never Before&#8217; If He Returns To The White House, Promises To Fire SEC Chair Gary Gensler On Day 1</a>
Why It Matters: The surge in value of these Bitcoin spinoffs highlights investors&#8217; growing interest, particularly among retail traders, in more affordable alternatives.
Bitcoin is one of the most expensive assets to purchase, with one unit priced at nearly $70,000 as of this writing. The high price makes owning one full Bitcoin a bit difficult though investors can always get exposure by making fractional purchases.
However, hard forks of the cryptocurrency, such as Bitcoin Cash, are priced much less in comparison, making them attractive buys, as they are viewed as cheaper plays by some investors.
The interest in Bitcoin is high after former President Donald Trump announced big plans for the digital asset, including <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40001426/trump-aims-to-make-us-crypto-capital-of-the-planet-well-get-it-done">a push for a national Bitcoin stockpile for the U.S</a>.

Price Action: At the time of writing, Bitcoin was trading at $68,693.74, up 0.89% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. Trump-themed Maga Coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>) was up 0.26%.
Photo by Igor Faun on Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40002999/bitcoin-ethereum-dogecoin-move-sideways-as-trump-raises-pro-crypto-pitch-why-does-this-ana">Bitcoin, Ethereum, Dogecoin Move Sideways As Trump Raises Pro-Crypto Pitch &#8211; Why Does This Analyst Think Longing King Crypto Could Soon Be A Good Option?</a></li>
</ul>

Movers

Trading Ideas

$BCH

$BSV

Bitcoin Cash And Bitcoin SV Outpace King Crypto With 24-Hour Gains: What's Happening With These Spin-Offs?

The Marvel Entertainment and Walt Disney (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) collaboration, &#8220;Deadpool &amp; Wolverine,&#8221; has set new records at the box office, grossing over $438.3 million worldwide in its opening weekend.
What Happened: The film&#8217;s international earnings were $233.3 million, while domestic earnings hit $205 million, making it the largest R-rated opening ever, both domestically and globally, <a href="https://deadline.com/2024/07/deadpool-wolverine-global-international-box-office-1236023236/">reported</a> Deadline on Sunday.
The success of &#8220;Deadpool &amp; Wolverine&#8221; has propelled the Marvel Cinematic Universe&#8217;s (MCU) total worldwide earnings beyond the $30 billion mark. The film, featuring Ryan Reynolds and Hugh Jackman, topped the charts in all markets where it was released.
See Also: <a href="https://www.benzinga.com/news/24/07/40000541/apples-market-share-drops-in-china-a18-chip-integration-to-bring-ai-features-to-iphone-16-and-more-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple&#8217;s Market Share Drops In China, A18 Chip Integration To Bring AI Features To iPhone 16 And More: This Week In Appleverse</a>
In several markets, including Germany, the U.K., Australia, the Netherlands, Hong Kong, and Taiwan, &#8220;Deadpool &amp; Wolverine&#8221; had the biggest opening weekend of 2024. 
The film grossed $94.5 million across Europe, marking the best start ever for a U.S. R-rated movie in the region, the report noted.
In the Asia-Pacific region (excluding China), the film earned $60.1 million. In China, the film&#8217;s opening was estimated at $24 million. Latin America saw earnings of $54.7 million, making it the second-highest opening weekend in 2024 across the region.
The film also performed well in Imax Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IMAX#NYSE">IMAX</a>), with a global haul of $36.5 million, marking the eighth biggest for the format ever and the best for July as well as for an R-rated title. 
Imax CEO Rich Gelfond commented on the film&#8217;s success, stating, &#8220;Deadpool &amp; Wolverine delivered one of the biggest Imax opening weekends of all time.&#8221;
Why It Matters: The film&#8217;s record-breaking performance <a href="https://www.benzinga.com/news/24/07/39991247/disney-amc-and-imax-stocks-surge-after-deadpool-wolverine-breaks-box-office-records">had a positive impact on the stocks</a> of Walt Disney, AMC Entertainment Holdings, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>), and Imax, as they all experienced a surge following the box office reports. 
The film&#8217;s success was anticipated, <a href="https://www.benzinga.com/general/entertainment/24/02/37147153/deadpool-3-trailer-breaks-records-thanks-to-super-bowl-could-the-movie-become-highest-gross">as its trailer</a>, released during Super Bowl LVIII, had already broken records, hinting at the film&#8217;s potential to become the highest-grossing R-rated movie.
Price Actions: On Friday, DIS shares rose by 0.81% to $89.93. AMC increased by 0.78% to $5.18, and IMAX climbed by 3.56% to $20.09. While DIS shares dropped slightly and Imax saw no change, AMC shares increased further during the after-hours session reaching $5.19, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39926002/after-donald-trumps-recent-taiwan-statement-sent-shockwaves-japans-pm-kishida-reveals-new-bill-to-bo?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">After Donald Trump&#8217;s Recent Taiwan Statement Sent Shockwaves, Japan&#8217;s PM Kishida Reveals New Bill To Boost AI And Chipmaking With Domestic Investment</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Entertainment

IMAX

Ryan Reynolds, Hugh Jackman Starrer 'Deadpool & Wolverine' Breaks Box Office Records, Rakes In Over $438M For Disney's Marvel At Global Opening

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Spot Ethereum (<a href="https://investorplace.com/cryptocurrency/eth-usd/">ETH-USD</a>) exchange-traded funds (ETFs) have started trading on Tuesday marking a major milestone for fans of the Ethereum blockchain.



Let&rsquo;s get into the spot Ethereum ETFs <a href="https://www.cnbc.com/2024/07/23/spot-ether-etfs-set-to-debut-tuesday-what-it-means-for-ethereum-blockchain.html">that started trading today</a> below!



<h2>Spot Ethereum ETFs to Watch on Tuesday</h2>



<ul><li>Grayscale Ethereum Trust (OTCQX:<a href="https://investorplace.com/stock-quotes/ethe-stock-quote/">ETHE</a>)</li>



<li>Grayscale Ethereum Mini Trust (ETH)</li>



<li>Bitwise Ethereum ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETHW#NYSE">ETHW</a>)</li>



<li>iShares Ethereum Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETHA#NASDAQ">ETHA</a>)</li>



<li>VanEck Ethereum Trust (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ETHV#BATS">ETHV</a>)</li>



<li>ARK 21Shares Core Ethereum ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CETH#BATS">CETH</a>)</li>



<li>Invesco Galaxy Ethereum ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/QETH#BATS">QETH</a>)</li>



<li>Fidelity Ethereum Fund (BATS:<a class="ticker" href="https://www.benzinga.com/stock/FETH#BATS">FETH</a>)</li>



<li>Franklin Ethereum ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/EZET#BATS">EZET</a>)</li>
</ul>This marks the first time that investors have been able to buy stakes in spot Ethereum ETFs. Previously, they were limited to Ethereum ETF futures. This change comes after spot Bitcoin (<a href="https://investorplace.com/cryptocurrency/btc-usd/">BTC-USD</a>) ETFs started trading earlier this year.



Crypto traders are celebrating the launch of spot Ethereum ETFs today as it marks another win for the market. Crypto has faced extra scrutiny from the Securities and Exchange Commission (SEC) as the government seeks extra regulations for the emerging market.



Spot Ethereum ETFs allow investors to invest in the crypto without holding it directly. That opens the market up to some investors that may not want the direct exposure or the hassle that comes with getting started in the space.



There are plenty of other stock market stories that traders are going to want to read about below!



We have all of the hottest stock market news investors need to know about on Tuesday! That includes what&rsquo;s going on with shares of Serve Robotics&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/serv-stock-quote/">SERV</a>) stock, Jaguar Health&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/jagx-stock-quote/">JAGX</a>) stock and AMC Entertainment&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/amc-stock-quote/">AMC</a>) stock today. All of this news is ready to go at the links below!



<h2>More Tuesday Stock Market News</h2>



<ul><li><a href="https://investorplace.com/2024/07/why-is-serve-robotics-serv-stock-down-today/">Why Is Serve Robotics (SERV) Stock Down Today?</a></li>



<li><a href="https://investorplace.com/2024/07/why-is-jaguar-health-jagx-stock-down-55-today/">Why Is Jaguar Health (JAGX) Stock Down 55% Today?</a></li>



<li><a href="https://investorplace.com/2024/07/wedbush-just-raised-its-price-target-on-amc-entertainment-amc-stock/">Wedbush Just Raised Its Price Target on AMC Entertainment (AMC) Stock</a></li>
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									</ul>The post <a href="https://investorplace.com/2024/07/spot-ethereum-etfs-9-tickers-to-watch-as-new-funds-start-trading/">Spot Ethereum ETFs: 9 Tickers to Watch as New Funds Start Trading</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Spot Ethereum ETFs: 9 Tickers to Watch as New Funds Start Trading

Which Spot Ethereum ETF To Buy? Or Buy Ether Directly?

Bitcoin Vs. Ethereum: Similarities, Differences And Considerations

Spot ether ETFs close out first trading day lower as ether price slips

SA subscribers' favorite ethereum ETFs

Spot ether ETFs garner $107M net inflows on launch day, driven by ETHA, ETHW

On Tuesday, July 23rd, spot Ethereum (ETH-USD) ETFs made their long-awaited debut in the United States in a significant victory for the crypto indu...

Ethereum ETFs Debut — What You Need to Know

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Fidelity Ethereum Fund Beneficial Interest

Cryptocurrency market tumbled on Thursday morning as Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell over 3% in early Asian trading, triggering a <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39918009/bitcoin-dogecoin-dip-ethereum-outperforms-as-eth-etfs-capture-20-of-btc-etf-inflows-was-th">wave of liquidations</a> worth over $250 million.



What Happened: Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) also took a heavy hit, falling by 7.5%, exacerbated by outflows from recently launched Ethereum exchange-traded funds (ETFs).



The sudden drop in Bitcoin, which saw the world&#8217;s largest cryptocurrency plummet from around $65,500 to nearly $64,000 within minutes, was largely attributed to a broader market downturn, with U.S. technology stocks taking a significant beating. 



Bitcoin is currently trading around $64,200, down 3.2% in the past 24 hours, while Ethereum has fallen 8.5% to $3,171.



The Nasdaq 100 index suffered its largest decline since 2022, underscoring the growing investor anxiety about risk assets.



The cryptocurrency derivatives market was caught off guard by the volatility. 



Binance, the world&#8217;s largest crypto exchange, bore the brunt of the liquidations, with over $118 million in long positions wiped out. 



Other major platforms like OKX and Huobi also reported substantial losses for long traders.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39938175/vice-president-harris-snubs-bitcoin-conference-would-have-been-a-disaster-for-her-shrugs-o#google_vignette">Vice President Harris Snubs Bitcoin Conference: &#8216;Would Have Been A Disaster For Her,&#8217; Shrugs Organizer</a>



What ETFs Did: Ethereum, which has been under pressure since the launch of its ETFs, saw a net outflow of $133 million from spot ETFs yesterday, according to industry data, according to <a href="https://sosovalue.com/assets/etf/us-eth-spot">data</a> from SoSo Value.



While Grayscale&#8217;s flagship Ethereum Trust ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETHE#NYSE">ETHE</a>) suffered a massive $327 million outflow, its Mini ETF and Fidelity&#8217;s ETF (CBOE: FETH) managed to attract inflows of $45.9 million and $74.4 million respectively. 



Despite these inflows, the overall sentiment around Ethereum ETFs remains cautious.



Despite the overall bearish sentiment, not all news was negative. 



Bitcoin spot ETFs recorded a net inflow of $44.5 million on July 24, with BlackRock&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) ETF seeing an impressive inflow of nearly $66 million, <a href="https://sosovalue.com/zh/assets/etf">according</a> to data.



However, Grayscale&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GBTC#OTC">GBTC</a>) experienced an outflow of $26.2 million. 



However, the recent price drop and the ongoing market uncertainty have cast a shadow over the cryptocurrency.



What&#8217;s Next: The upcoming Benzinga <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19 will provide a platform for industry leaders to discuss the challenges and opportunities facing the crypto ecosystem.



Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39935966/ferrari-revs-up-crypto-payments-in-europe-expanding-on-us-success">Ferrari Revs Up Crypto Payments In Europe, Expanding On US Success</a>

The much-anticipated <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39913874/ethereum-etfs-are-live-heres-how-experts-assess-their-launch">launch of Ethereum ETFs</a> in the U.S. saw a promising start, attracting a combined net inflow of nearly $107 million on their first day.



What Happened: The launch saw a flurry of activity with over $1 billion in shares traded across nine newly introduced ETFs.



BlackRock Inc.'s iShares Ethereum Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETHA#NASDAQ">ETHA</a>) led the pack with the highest level of inflows on Tuesday, securing $266.55 million.



Following closely were Bitwise Ethereum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETHW#NYSE">ETHW</a>) with $204 million and the Fidelity Ethereum Fund (CBOE: FETH) with $71 million, according to <a href="https://sosovalue.com/assets/etf/us-eth-spot">data</a> from SoSo Value.



This launch comes six months after U.S. regulators greenlighted the first U.S. spot-Bitcoin ETFs, which have collectively drawn in over $17 billion in net inflows this year.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246"/></a></figure>



What Experts Say: Lennix Lai, Global Chief Commercial Officer at OKX told Benzinga that the approval and launch of ETH ETFs shows that the SEC doesn't define ETH as a security and that has a significant implication to the classification of proof-of-stake (PoS) tokens in the market.



This could have cleared many regulatory roadblocks, uncertainty and risks for businesses working with PoS tokens, and even paved the way for the ETFs of other PoS tokens, he added.



&#8220;In terms of price, there could be a short-term price increase for ETH &#8211; given a substantial portion of ETH is staked in the protocol which could lead to scarcity &#8211; but the macro-economic factors are probably more influential than the launch of ETH ETFs,&#8221; he said.



Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), the second-largest digital asset, is highly regarded for blockchain-based financial services.



However, its market value remains less than a third of Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), leading to expectations of smaller inflows compared to Bitcoin ETFs.



The Bitcoin funds benefited from a narrative that positions the leading cryptocurrency as digital gold, a branding advantage that Ethereum lacks.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39915620/ethereum-may-be-headed-for-a-sell-off-after-etfs-launched-10x-research">Ethereum May Be Headed For A Sell-Off After ETFs Launched: 10x Research</a>



Additionally, the new Ether ETFs do not offer staking rewards, a benefit accessible through direct ownership of the token.



The US Securities and Exchange Commission (SEC) gave final approval to the spot Ethereum ETFs on July 22, and trading commenced in the United States on July 23.



What Bitcoin Did: On the same day, Bitcoin spot ETFs <a href="https://sosovalue.com/assets/etf/us-btc-spot">experienced</a> a total net outflow of $77.97 million, marking the first net outflow after 12 consecutive days of net inflows.



Grayscale&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GBTC#OTC">GBTC</a>) saw a net outflow of $27.31 million, while Ark &amp; 21Shares&#8216;s ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKA#BATS">ARKA</a>) had an outflow of $52.29 million and Bitwise&#8216;s Bitcoin ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BITB#NYSE">BITB</a>) recorded an outflow of $70.32 million.



In contrast, BlackRock&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) had a net inflow of $71.94 million.



As the digital asset landscape continues to evolve, the successful launch of Ether ETFs underscores growing investor interest in cryptocurrencies beyond Bitcoin. 



What&#8217;s Next: For more insights into the future of digital assets, join industry leaders at Benzinga&#8217;s <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39914429/the-curious-case-of-the-sec-lawsuit-involving-a-dubai-kidnapping-and-a-400m-transfer">The Curious Case Of The SEC Lawsuit Involving A Dubai Kidnapping And A $400M Transfer</a></li>
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