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Something went wrong. Please try again later. More content below * Oops! Something went wrong. Please try again later. More content below * Oops! Something went wrong. Please try again later. More content below * BLOCK-USD * BTC-USD * PAY-USD * Danny Nelson April 26, 2021, 6:08 AM*2 min read [271f7fd9e7] * Oops! Something went wrong. Please try again later. More content below * Oops! Something went wrong. Please try again later. More content below * Oops! Something went wrong. Please try again later. More content below * BLOCK-USD * BTC-USD * PAY-USD * JPMorgan Chase is preparing to offer an actively managed bitcoin fund to certain clients, becoming the latest, largest and - if its CEO's well-documented distaste for bitcoin is any indication - unlikeliest U.S. mega-bank to embrace crypto as an asset class. The JPMorgan bitcoin fund could roll out as soon as this summer, two sources familiar with the matter told CoinDesk. Institutional bitcoin shop NYDIG will serve as JPMorgan's custody provider, a third source said. JPMorgan's bitcoin fund will be actively managed, multiple sources told CoinDesk. That's a notable break from the passive fare offered by crypto industry stalwarts like Pantera Capital and Galaxy Digital, which let well-heeled clients buy and hold bitcoin through funds without ever touching it themselves. Galaxy and NYDIG are now offering bitcoin funds to Morgan Stanley clients. Related: Market Wrap: Bitcoin Bounces to $54K as Ether Fees Drop Below Average in Past Week The JPMorgan fund will be for private wealth clients, a source familiar with the situation told CoinDesk. The move by JPMorgan marks a sharp turn for the $3 trillion bank. JPMorgan CEO Jamie Dimon called bitcoin a dangerous fraud in 2017, threatening then to "fire in a second" any trader who touched the stuff. "If you're stupid enough to buy it, you'll pay the price for it one day," he said at the time. While he quickly walked back the "fraud" label and has more recently toned down his rhetoric, Dimon, who has repeatedly argued that government regulation of cryptocurrencies is inevitable, maintained late last year that bitcoin is "not my cup of tea." Related: Tesla Sold Bitcoin in Q1 for Proceeds of $272M Despite its CEO's personal disdain for the crypto, top deputies within its Corporate and Investment Banking division acknowledged in February that client demand might force the institution to change. Story continues JPMorgan's hulking investment, commercial banking and wealth management divisions have gradually evolved in their treatment of crypto and blockchain, even if the client-facing bitcoin fund is new. The bank's research analysts regularly issue market insight on bitcoin's price and prospects in reports available to clients. The firm's Onyx division seeks to speed up interbank payments via blockchain technology and JPM coin, for example. After five years of quiet development, Onyx is mounting a global hiring campaign for blockchain engineers. On the Investment Banking side, JPMorgan issued its first crypto-adjacent investment product in March, a structured note tied to the performance of bitcoin proxy stocks such as MicroStrategy and Riot Blockchain. JPMorgan's new fund product, however, will be its first directly dependent on bitcoin's performance. Bank representatives did not respond to CoinDesk's questions by press time. Ian Allison contributed reporting. Related Stories * JPMorgan to Let Clients Invest in Bitcoin Fund for First Time: Sources * JPMorgan to Let Clients Invest in Bitcoin Fund for First Time: Sources [ ] Related Quotes Symbol Last Price Change % Change BLOCK-USD 3.6149 +0.5624 +18.43% Blocknet USD BTC-USD 53,511.53 +5,928.34 +12.46% Bitcoin USD PAY-USD 0.1067 +0.0184 +20.87% TenX USD TRENDING * 1. Lyft to Sell Self-Driving Unit in $550 Million Toyota Deal * 2. UPDATE 1-Lyft sells self-driving tech unit to Toyota for $550 mln, moves up profit timeline * 3. GameStop raises $551 million to accelerate e-commerce push, shares jump * 4. Chipmaker stocks are going to be 'the key' to reading the market: analyst * 5. GameStop raises $551 mln to accelerate e-commerce push, shares jump __ Recommended Stories * [placeholde] Insider Monkey These Top Hedge Funds are Buying Coinbase and Other Bitcoin Stocks In this article we will take a look at the top hedge funds buying Coinbase and other bitcoin stocks. You can skip our comprehensive analysis of the crypto industry and go directly to Hedge Funds are Buying Coinbase and These 5 Bitcoin Stocks. Hedge funds are loading up on crypto stocks as the market for [...] 7h ago * [placeholde] Bloomberg JPMorgan Is Preparing to Offer a Bitcoin Fund to Wealthy Clients (Bloomberg) -- JPMorgan Chase & Co. is preparing to offer a Bitcoin fund to wealthy clients, the latest sign that Wall Street is warming to the largest cryptocurrency after it soared in recent months.The actively managed fund will be available as soon as this summer, CoinDesk reported Monday, citing sources familiar with the plans. NYDIG will be the custody provider, a person with knowledge of the situation said, asking not to be identified because the decision hasn't been made public.Spokespeople for JPMorgan and NYDIG declined to comment.Bitcoin rose as much as 12% Monday morning to trade at almost $54,000, the biggest intraday gain since early February.Wall Street banks are grappling with whether to offer clients exposure to cyptocurrencies after staying mostly on the sidelines as Bitcoin and other tokens surged in popularity. JPMorgan has been taking some of the biggest strides, adding Bitcoin exchanges Coinbase Inc. and Gemini Trust Co. as banking clients last year. The firm also turned to crypto to help speed up corporate payments, launching JPM Coin in 2019.JPMorgan co-President Daniel Pinto said last week that the firm will "accompany the clients" when it comes to Bitcoin. The biggest U.S. bank joins Morgan Stanley in planning to offer rich clients access to funds that enable ownership of Bitcoin.Read more: Morgan Stanley to Offer Rich Clients Access to Bitcoin FundsFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.(c)2021 Bloomberg L.P. 8h ago * [placeholde] Ad*Netsphere | Search Ads + Why this Ad? + I like this ad + I don't like this ad + Advertise with us AdLift Chairs for Seniors Paid by Medicare See search results for lift chairs and other seating options. * [placeholde] MarketWatch JPMorgan may offer actively managed bitcoin fund: report Banking giant JPMorgan Chase is preparing to offer its private wealth clients an actively managed bitcoin fund, Coindesk reported on Monday, citing sources. That fund could be ready by summer, with the bank enlisting NYDIG, an institutional technology and financial services firm dedicated to bitcoin , to act as custody provider, the report said. The report comes as bitcoin rebounded on Monday from last week's losses, with the price climbing above $53,000. A spokesman for JPMorgan could not immediately be reached for comment. 11h ago * [placeholde] BeInCrypto Sean Culkin of Kansas City Chiefs Is Taking Full 2021 Salary in Bitcoin On Monday morning, Sean Culkin made NFL history. Not for any on-field accomplishments but reportedly for being the first NFL athlete to take his full salary in bitcoin. 7h ago * [placeholde] Simply Wall St. Be Sure To Check Out East West Bancorp, Inc. 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Relying only on the stock market can leave you devastated if the market crashes. Most financial advisors suggest that you diversify your portfolio outside of investments involved in the market, and real estate is a great option. You don't need to be a millionaire to invest in real estate. People of all income levels can invest in it if they know how to do it right. The best thing about real estate is you can leverage your investment, meaning you can invest a small amount of cash yet make a significant investment thanks to mortgage financing. If you've never invested in real estate before, here are five great ways to get started. 5 Ways To Start Real Estate Investments Getting involved in real estate investments isn't as far-reached as you'd think. Today many loan programs make it easy to leverage your money. Before you invest, use these five tips to get you started. 1. Save Money And Think About Your Options It's no secret that you need money to buy real estate investments. But the good news is you don't need 100% of the sales price. Most lenders allow you to borrow with as little as 20 - 30% down. That's $20,000 - $30,000 for every $100,000 in sales price. It's not a bad deal to invest in something worth $100,000 for only $20,000, right? As you save money for your investment, think about how you want to invest - you have two main options: Fix and flip - As you see on shows like Fixer Upper, you too can buy rundown properties, fix them up, and sell them for a profit. Unfortunately, you won't make nearly the money they make on the show, but you get the idea. If you have the resources to find an undervalued home and the cash (or financing) to fix it up, you may flip a profit. Buy and hold - More typical for new investors is the buy and hold real estate investment strategy. When you buy a home in an area desirable to renters, you own the home but rent it to tenants. It's a great way to make monthly cash flow while earning the equity and future capital gains in the house. 2. Find Homes To Invest In Here's the more challenging part. You have to find homes that are a good investment. Just perusing the MLS listings won't be enough. Sure, you'll find properties for sale, but is there money in them after all of your operating expenses? Instead, you need either a licensed professional to help you find homes that make a good investment or use a real estate investment platform. If you use a platform like Roofstock, not only will you find properties perfect for investors, but you can bid on properties that already have renters. See also: How to Invest in Real Estate Online Buying turnkey real estate takes less work upfront since the home already has tenants and doesn't need renovations. It also provides almost immediate cash flow since you start earning rent from the day you close on the property. As a turnkey investor, you take over the lease on the property. Your tenants stay in the property, and the only thing that changes for them is who they write a check to each month. 3. Determine Your Operating Expenses A big part of investing in real estate is understanding your operating expenses. Just like a business, you'll have costs that come off the top of your earnings. Your net profit is the total rent charged minus your monthly expenses. Determining your operating expenses yourself can be overwhelming, especially if you're a first-time investor. Here's a simple breakdown of the most common expenses investors face: Real estate taxes Homeowner's insurance Home maintenance and upkeep Major home repairs HOA fees Mortgage loan payments Property management fees 4. Build A Team It takes a village to make real estate investments work. Even though you have the money to invest, there are many other pieces to the puzzle. Trying to take it all on yourself is too much and doesn't work. Your team should include several professionals, including: A licensed appraiser to determine the fair market value of the home to make sure it's a good investment A property management company to handle managing the physical property and dealing with the tenants. A lender to provide the financing under terms you can afford An attorney to oversee the real estate process A financial advisor to help you decide if real estate investing is the right choice 5. Seal The Deal After you've assembled your team, done your homework, saved enough money, and found a home on Roofstock Marketplace, your next step is to make an offer and close on the deal. If you use Roofstock Marketplace, you do everything through their platform. It's simple to negotiate back and forth with the seller and finalize the sale. Once you reach an agreement, you provide the sales contract to your lender and finalize financing. Closings take place within a few weeks of signing the contract, and when it's done, you are a new real estate investor. What Is The Minimum Amount To Invest In Real Estate? Investing in real estate doesn't have to seem impossible. Even though you're investing in a property worth a couple hundred thousand dollars doesn't mean you need that much money. It's this thought that holds many would-be investors back. Because you won't live in the home, lenders want a larger down payment than they'd require if you did occupy the property. Owner-occupied loans can get away with a down payment as low as 3.5% in some cases. To invest in real estate, though, you'll need 20% - 30%. It sounds like a lot, but when you're investing in something worth much more, you'll see the benefit in the down payment. Not only are you able to secure financing when you make a decent down payment, but you'll have equity in the home. Equity is the difference between the home's value and your current mortgage. If you were to sell the house today, you'd get the difference between the value and the loan's balance. When you start your investment with a decent amount of equity, you'll walk away with an even larger capital gain when you sell the home. Is Real Estate Ever A Bad Investment? All investments have risks. There isn't anywhere you can invest your money except a savings account that carries no risk. So is real estate a bad investment? It can be if you don't do your due diligence. But, when you work with a reputable platform like Roofstock Marketplace, it's easier to make suitable investments - investments that earn you monthly cash flow and allow your equity to grow. Even using Roofstock, always do your research. Before you look for homes, know what you want. Ask yourself: Do I want to invest long distances? Frequently you'll find better deals investing halfway across the country. This is especially true if you live in a high-cost area. Sometimes the prices get too high to afford. Finding affordable properties a few states away, though, may open more possibilities, but you'll need to trust a property management company to handle the property. What type of property do I want to invest in? Most first-time investors invest in a single-family property. There are fewer restrictions (no HOA to answer to), and single-family homes hold their value better than condos or townhomes. What type of lease do I want? When you buy a turnkey property, it already has a lease and active tenants. Knowing the type of lease you want and the terms you'll accept is essential. Do you want a lease that's ending soon, or do you want a long-term tenant so you don't have to worry about vacancies? What are the values like in the area? Don't focus on the homes' current values but on the historical performance of the houses. Have they regularly appreciated, or did their values look a bit like a rollercoaster ride? Focusing on areas with steady values keeps your investment secure. Can You Lose Money Investing In Real Estate? You can lose money investing in real estate, just like you can lose money investing in the stock or bond market or any other asset. The key is in the research you do to make sure the investment is as sound as possible and has few risks. Is Owning Rental Property Worth It? This is where many people get stuck. They see the work involved in real estate investments, and they think it's not worth it. But, when you work with a reputable platform like Roofstock Marketplace, you'll know what you're getting into before you buy it. Seeing the property's financial analysis, operating expenses, and expected returns is half the battle. Sure, you could buy a bad property, and if you don't manage it right, it could be a difficult situation. But having the right professionals on your side and the accurate reports to review and make a decision, owning a rental property can be worth it. Knowing who you can lean on to handle the property management, who will give you legal advice, and even help to find the right property is the key to a successful real estate investment. Increasing Your Chances Of Buying Rental Property The key to buying a rental property is finding the right financing. Investment property loans can be harder to find because lenders often don't want to take the risk. Since it's not your home, you could easily default on the loan. Here's how to increase your chances of approval: Check your credit - Investors need good credit scores to get an investment property mortgage. While you don't need perfect credit, the higher your score is, the better your chances of approval at the lowest rate and/or highest loan amount. Pay off your debts - Pay off as many consumer debts as possible before applying for an investment loan. Lenders prefer low debt-to-income ratios, which compare your current debt payments to your gross monthly income. Have reserves available - Lenders like it when borrowers have reserves on hand (liquid assets). This shows lenders you can manage the mortgage even if you lose your tenants and the home remains vacant. Diversify Your Portfolio By Investing In Real Estate Diversifying your portfolio with real estate is one of the best ways to offset the stock market's risk. With money in different assets, you don't have to worry about losing everything should one market crash. Including real estate in your portfolio not only sets you up for a long-term investment but also creates monthly cash flow, helping you build your portfolio even further. Whether you've never invested before or you're an experienced investor, Roofstock Marketplace is a great way to find the perfect investment property today. Image by Paul Brennan from Pixabay See more from BenzingaClick here for options trades from Benzinga15 Tips For Buying Your First Rental PropertyTop 10 Features Of A Profitable Rental Property(c) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. 7h ago * [placeholde] Reuters US STOCKS-Wall Street edges higher on Tesla boost ahead of big tech earnings Wall Street's main indexes rose on Monday as Tesla shares gained ahead of the electric-car maker's earnings report, which would kick off this week's results from heavyweight technology companies. Tesla Inc rose 1.1% as analysts expect the company to report a rise in first-quarter revenue when it reports after markets close following record deliveries during the period. About 40% of the S&P 500's market cap report from Tuesday through Thursday, including tech and related heavyweights Microsoft Corp, Google parent Alphabet Inc, Apple Inc and Facebook Inc. Shares of the companies were mixed in early trading. 9h ago * [placeholde] Engadget Tesla built, sold and shipped more vehicles in this last quarter than ever before Elon Musk took a break from his SNL prep on Monday to host Tesla's Q1 2021 investor earnings call and let the journalists who had tuned in know all about the company's stellar start to the start of the new year. 2h ago * [placeholde] Ad*DealProwl + Why this Ad? + I like this ad + I don't like this ad + Advertise with us AdThe 23 Hottest Mother's Day Gifts of 2021 It's true, these gift ideas will score you major points with Mom. * [placeholde] Bloomberg Bitcoin Rebounds After Hitting Lowest Level Since March (Bloomberg) -- Bitcoin rallied back Monday as investors took advantage of the lowest levels in seven weeks to pile back in.The largest cryptocurrency rose as much as 13% to above $54,000, the biggest intraday gain since early February.The move comes as JPMorgan Chase & Co. is preparing to introduce an actively managed Bitcoin fund to some clients as soon as this summer, Coindesk reported, citing unidentified people familiar with the matter. The rebound reverses a two-week slump that had pushed Bitcoin below its 100-day moving average amid technical warnings from Wall Street and fears of a growing crypto bubble.Some pinned Monday's move on a tweet Saturday from billionaire Elon Musk, who in the past has affected prices with his comments on the social platform.In a potential reference to cryptocurrencies, the Tesla Inc. founder asked "What does the future hodl?", using a term often seen as meaning "hold on for dear life" that supporters use to refer to buying and holding their digital assets.After markets closed in New York on Monday, Musk's Tesla Inc. quarterly results revealed that it spent $1.2 billion on Bitcoin in the first quarter and made $101 million selling it during that period. Musk had disclosed the crypto investment in February and the announcement subsequently helped fuel a red-hot rally for the digital asset.Cryptocurrency-exposed stocks also rose. Monex Group Inc. gained 7.1%, while Remixpoint Inc. increased 7% and Ceres Inc. added 6.1%. In the U.S., Coinbase Global Inc. gained 4.4%, while Riot Blockchain Inc. jumped 6.3%.Bitcoin has retained a gain of about 80% year-to-date as big-name investors endorse it and institutions from Goldman Sachs Group Inc. to Bank of New York Mellon advance their offerings around cryptocurrencies. JPMorgan's John Normand reiterated in a note Friday that Bitcoin's ascent has been steeper than any other financial innovation or bubble of the past 50 years."Crypto bulls breathed a sigh of relief as last week's deep rout across the space failed to extend," Steen Jakobsen, chief investment officer at Saxo Bank, wrote in a note. However, "it has quite a wall to climb to fully neutralize the recent selloff(Updates to add Tesla's Bitcoin sale in sixth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.(c)2021 Bloomberg L.P. 1h ago * [placeholde] TipRanks Is Skillz Stock a Buy Right Now? This Is What You Need to Know Once in a while, a new business model announces its arrival in a way that cannot be ignored. Accordingly, Jefferies analyst Andrew Uerkwitz thinks Skillz (SKLZ) has the potential to be a major disruptor in the mobile gaming universe. "In social gaming it started with Farmville. Candy Crush came along and showed that gamers came in sorts of stripes and flavors. Supercell built a mobile empire of competitive battlers," the 5-star analyst said. "We believe Skillz is next in line." There is a lot to like about the company and its approach to forge ahead in the huge market it operates within. Uerkwitz believes the company's focus on competition, leader boards, and special events is an excellent way to monetize users, giving SKLZ a TAM (total addressable market) of more than 1 billion mobile gamers. What's more, the company's conversion metrics stand out in a segment where retaining high engagement levels is notoriously difficult. Skillz has figured out that gamers are willing to fork out money to join in the "thrill of competition." The data bears this out. After downloading a mobile game, more than 50% will never even open it. Half of those who do, won't ever do so again. A month later, the percentages of those left playing "are typically in the single digits." And for those paying for games, the rates are worse - usually in the 2-3% range. Skillz' conversion rate, on the other hand, is excellent - and only improving. In 2020, player engagement reached new heights. The company boasted average MAUs (monthly active users) of 2.6 million, of which 324,000 were paying MAUs, representing a payer conversion ratio of 12.6%. The figure peaked in 4Q20, climbing to 16.3% of paying MAUs in the quarter. "These are some of the highest payer conversion rates we have seen on mobile," Uerkwitz said. "We see Skillz's conversion metrics as evidence that its unique competition model is sound, and importantly scalable as it spends to bring new players into the top of the funnel." However, getting to scale is an issue the company is still working on, and could take a while. Therefore, despite the opportunity and SKLZ' unique value proposition, its valuation keeps Uerkwitz on the sidelines. Accordingly, Uerkwitz rates SKLZ a Hold along with a $17 price target. The implication for investors? Downside of 9% from current levels. (To watch Uerkwitz' track record, click here) In contrast, going by the Street's overall average price target, the valuation issue is certainly not a concern. The shares are expected to add ~56% over the coming months, given the figure clocks in at $29. Rating wise, opinions are evenly split, ultimately tilting in the bulls' favor; based on 3 Buys and Holds, each, the stock has a Moderate Buy consensus rating. (See SKLZ stock analysis on TipRanks) To find good ideas for stocks trading at attractive valuations, visit TipRanks' Best Stocks to Buy, a newly launched tool that unites all of TipRanks' equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment. 9h ago * [placeholde] Seventeen Selena Gomez Went Out On The Town in A Black Mini Dress, Leather Coat And Thigh High Boots The brand-new blonde went out on Oscars night, and her outfit is a serious vibe. 7h ago * [placeholde] Ad*Autooverload + Why this Ad? + I like this ad + I don't like this ad + Advertise with us AdHarrison's Jet Make Air Force One Look Like A Toy These Are The Most Insane Private Jets On The Planet... * [placeholde] TechCrunch Tesla grows 74% in the first quarter, besting expectations as its shares ease after hours Today after the bell, American electric car company Tesla reported its Q1 2021 financial performance. For the broader electric vehicle and battery startup market that has pursued many SPAC-led combinations in recent months, the generally positive Tesla trailing results could prove a boon, underscoring continued market demand for their category's hardware. 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Add'l terms apply. * [placeholde] Investor's Business Daily Dow Jones Slips While Nasdaq Leads Upside; Several Growth Stocks Score Breakouts The Dow Jones traded slightly lower in today's market over the past hour of trading. Meanwhile, the Nasdaq traded near its highs of the day. 5h ago * [placeholde] Reuters Exclusive-Schlumberger names new executives to energy transition business - memo (Reuters) -Top oilfield services firm Schlumberger NV on Monday named new executives to energy transition units, according to a memo seen by Reuters, a move that signals its growing commitment to lower carbon businesses. Sebastian Pages, formerly in the Well Construction group, was appointed as New Energy finance director. Kahina Abdeli-Galinier, previously the marketing director for Digital & Integration, was named Emissions Business Director to "build and manage a new business to methane emissions for oil and gas operations of our customers," the memo said. 8h ago * [placeholde] Reuters Tesla sees growth on track as China, bitcoin boost revenue (Reuters) -Electric carmaker Tesla Inc marginally beat Wall Street expectations for first-quarter revenue on Monday boosted by a jump in environmental credit sales to other automakers and robust demand from China. Sales of regulatory permits were higher than quarterly profit, in line with the trend of several quarters, and net profit was dented by a $299 million award to Chief Executive Elon Musk. Tesla's quarterly performance hit targets qualifying the billionaire entrepreneur for two options payouts worth a combined $11 billion. 3h ago More Stories __ __ __