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ReutersUS SEC expected to deny spot ether ETFs next month, industry sources say
U.S. issuers and other firms expect the Securities and Exchange Commission to deny their applications to launch exchange-traded funds (ETFs) tied to the price of ether after discouraging meetings with the agency in recent weeks, four people said. VanEck, ARK Investment Management and seven other issuers have filed with the SEC to list ETFs that would track the spot price of the world's second-largest cryptocurrency after bitcoin. The SEC must decide on VanEck's and ARK's filings, which are first in line, by May 23 and May 24 respectively.
- Reuters
Mexican cement maker Cemex's Q1 profit climbs despite dip in volumes
Mexican cement-maker Cemex reported a 13% increase in first-quarter net profit on Thursday, bolstered by lower taxes and less exposure to financial derivatives, although its operating earnings declined. The firm, one of the world's largest cement producers, posted a net profit of $254.4 million, beating analysts' estimate of $218.2 million as per LSEG data. Revenue inched up 3% year-over-year to $4.14 billion, just shy of analysts' estimate of $4.19 billion, despite volumes falling in all of its product segments.
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