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etf

An ETF, or Exchange-Traded Fund, is an investment fund that is traded on a stock exchange, designed to track the performance of a specific index, commodity, bond, or a basket of assets. ETFs combine the characteristics of stocks and mutual funds, offering a diversified portfolio and liquidity. Cryptocurrency ETFs focus on tracking the price performance of crypto assets, providing investors with a way to participate in the market without directly holding cryptocurrencies. Their advantages include reducing investment risk and simplifying the trading process.
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first_img a16z Weekly Report: Listed GPU rental prices are higher than at the beginning of the year, Netflix's growth rate is about 12%

The venture capital firm a16z released a chart weekly report written by Moses Sternstein on October 23, 2026. The report states that Netflix is still growing, with revenue growth slowing to just below about 12%, the lowest level since 2021 to 2022. The company is producing its own short videos and entering live sports. The report cites BCG data indicating that the upper limit of media consumption in the U.S. is about 26 hours per week, showing a moderate decline since the peak of lockdowns. Moses Sternstein: Competition comes not only from other streaming services but also from short videos, with much of the recent media growth coming from background consumption while driving or working.In terms of computing power, the report cites Ornn Data stating that the rental price of every GPU in the chart series is higher than at the beginning of the year, including the oldest A100, which is about 9% to 143% higher compared to a 6-year straight-line depreciation. Moses Sternstein: Over a longer period, older A100 and H100 GPUs spend more time below that line, but have only shown significant strength since April this year, making comparisons over a longer period not entirely fair. According to OpenRouter, token demand surged sharply in spring, jumped again after a brief plateau at the end of summer, with token consumption for both open-source and closed-source models still following an exponential path, and the share of proprietary models slightly increased last week. The author states that OpenRouter only covers a very small portion, and these indices are not perfect proxies for actual token spending and GPU pricing.In manufacturing, the report states that computer production capacity and utilization rates are rising, with production increases being larger. The increase in communication and semiconductor production mainly comes from expansion, while the price increase for electrical equipment is the largest, but domestic production has slightly declined. The import increase of key categories of AI capital expenditures mentioned above far exceeds the domestic production increase in dollar terms. According to ADP, the increase in average weekly hours for industries related to AI construction is greater than that of other industries, and is generally greater than the net increase in personnel. Job switchers in manufacturing have about a 5 percentage point wage growth premium compared to stayers. Cybersecurity stocks remain strong in IGV this year, but have seen a larger pullback than the market since October. The revenue growth rate of large companies has mostly only increased by a few percentage points, with some experiencing declines, and stock price performance reaching up to about 125%, with Palo Alto Networks' revenue growth largely driven by acquisitions.

first_img Franklin Templeton completes the final regulatory procedures before the listing of the Bitcoin dividend ETF

According to Bitcoin Magazine, Franklin Templeton, with assets under management of $1.7 trillion, has completed the final regulatory procedure before listing two ETFs that convert stock dividends into Bitcoin.On October 22, the company submitted Form 8-A to the U.S. Securities and Exchange Commission to register shares of the Franklin US Equity Bitcoin DRIP Index ETF and the Franklin US Innovation Bitcoin DRIP Index ETF for trading on NASDAQ. The prospectus submitted on the same day indicates an effective date of October 27. These two funds were first filed in June of this year, with codes and fees not disclosed at that time.The stock fund code is FBEQ, which tracks the VettaFi US Large-Cap 500 Bitcoin DRIP Index. This index holds the 500 largest companies in the U.S. by market capitalization, weighted by free float. As of September 30, it actually held 499 stocks, with a concentration in the information technology sector. The fund's initial allocation is 95% stocks and 5% Bitcoin, with regular or special dividends distributed by companies being used to purchase Bitcoin at the opening of the next trading day after the ex-dividend date, increasing the Bitcoin allocation with each dividend payment.During quarterly rebalancing, any Bitcoin allocation exceeding 5% will be reduced to 4.5%; if the Bitcoin allocation exceeds 20% between two rebalancing periods, it will be brought down to 4.5% within two trading days, with the funds flowing back into stocks. The fund does not directly hold on-chain Bitcoin but gains exposure through Bitcoin exchange-traded products (including its own spot fund), futures and options, or depository receipts, with some achieved through a subsidiary in the Cayman Islands. The FBEQ fee is 0.09%, with no 12b-1 fees, managed by Franklin Advisory Services, and Franklin Templeton Institutional serves as a sub-advisor. The innovation fund employs the same mechanism, tracking the VettaFi US Innovation 100 Bitcoin DRIP Index, with components from the 100 largest non-financial companies listed on NASDAQ.Franklin Templeton had previously filed for a spot Bitcoin ETF in September 2023 and launched it in January 2024 under the code EZBC; in April of this year, it acquired 250 Digital and established an institutional digital asset department, Franklin Crypto. These two DRIP funds extend the strategy to investors who will not purchase Bitcoin on their own.
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