The first Bitcoin investment fund in the Middle East was launched at Nasdaq Dubai

The first Bitcoin investment fund in the Middle East was launched at Nasdaq Dubai

Canadian digital asset fund management company 3iQ has announced the launch of the Middle East region's first bitcoin mutual fund on the Dubai Nasdaq Stock Exchange.

New Bitcoin Market

While the number of Bitcoin investors is growing worldwide, the opening of a Bitcoin fund could pave the way for a new influx of capital from one of the richest regions of the world into the currency market.

Investors can gain access to bitcoin price movements more than ever by buying the fund's investment units. Currently, in addition to the ability to buy directly from the Dubai Nasdaq market, it is possible to move units from the Toronto Stock Exchange to the Dubai Nasdaq. It is worth mentioning that after the beginning of trading the shares of this fund, the price of each share increased very fast by 11% and from $ 34.57 the initial price reached $ 38.40.

Frederick Pye, CEO of 3iQ, expressed satisfaction with the decision, saying that although the move comes as Bitcoin has lost more than 50 percent of its value in just a few weeks, Investors in the fund are likely to be in a "win-win" position in the event of a possible price increase in the summer.

The initial reaction of the dollar and the US stock market to the approval of the financial package

The initial reaction of the dollar, the Treasury and the US stock market to the approval of the financial package

Investors are keen to buy and hold US dollars. In global markets and this month, the US dollar index has climbed to its highest level in four months. The US Senate has approved Biden's $ 1.9 trillion bailout package, and the House of Representatives is expected to approve it today and sign it by the end of the week.
Under a previous US government support program, $ 600 in subsidies were able to support US retail and consumer spending. This time, a $ 1,400 support payment is planned and is expected to support the US economy more than ever. According to the US government, approximately 98% of those who received the $ 600 payment will also receive the $ 1,400 government payment. In the meantime, the benefits for the unemployed have been extended. US government support, along with widespread vaccination in the United States, will support the US economic recovery.
Yesterday, the US stock market showed a vague performance in response to the approval of the government financial package. While the Dow Jones industrial average rose, the S&P 500 and NASDAQ stock indexes fell. It seems that in the current situation, investors are not interested in buying shares of technology companies. The US dollar has also reacted positively. US 10-year Treasury yields also rose above 1.60 percent. From a fundamental analysis point of view, the US dollar is expected to continue to grow and the main focus of the market will be on US inflation indicators. US inflation data will be released on Wednesday. Given that energy prices rose sharply in February, US inflation data is expected to be stronger than market forecasts.

Review of Apple Stock Performance (AAPL) on the last trading day

Review of Apple Stock Performance (AAPL) on the last trading day

Shares of Apple Corps (NASDAQ: AAPL) closed up 0.12% at $ 129.87 on the last trading day. The overall stock market followed an uptrend on Friday, with the Nasdaq Composite Index (COMP) rising 0.07% to 13,874.46. The Dow Jones Industrial Average (DJIA) closed unchanged at 31,494.32. Friday's uptrend offset the three-day decline in Apple shares. On the other hand, Apple shares closed $ 15.22 lower than their highest 52-week high ($ 145.09) on January 25.
Let's compare the performance of some of Apple's competitors. For example, the stock of Microsoft (MSFT) fell 1.16% to $ 240.97. Alphabet (GOOGL) fell 0.81% to $ 2,088.81 and IBM fell 1.44% to $ 118.99.
Apple stock traded at $ 86.8 million, down $ 16.5 million from its 50-day moving average ($ 103.3 million).