European stock markets closed with varied performances. According to RTHK, Germany's DAX index ended at 22,636 points, experiencing a slight decline of 16 points, or nearly 0.1%. Meanwhile, France's CAC index rose by 17 points, marking a 0.2% increase to close at 7,743 points. The UK's FTSE 100 index saw a more significant rise, gaining 71 points, or 0.7%, to finish at 9,965 points.

Actively managed crypto exchange-traded products (ETPs) are poised to become a significant trend in the crypto investment landscape, according to 21Shares President Duncan Moir. According to NS3.AI, Moir highlighted that as global active ETF assets are projected to reach $1.8 trillion by the end of 2025, the crypto sector is particularly well-suited for active management. He noted that issuers are increasingly developing more complex products, including those with staking structures, to cater to evolving investor needs.

The United Kingdom's Ministry of Defence has stated that the Sovereign Base Areas have never been part of the Republic of Cyprus. According to Jin10, the UK has no plans to alter this status. The Sovereign Base Areas, which are British Overseas Territories, have been a point of contention in the region. The UK maintains these areas for strategic military purposes, and their status has been a longstanding issue in UK-Cyprus relations. The statement reaffirms the UK's position on the matter, indicating no forthcoming changes to the current arrangement.

Duncan Moir, President of 21Shares, stated that as the crypto market matures from simple price-tracking funds, actively managed exchange-traded products will become the next stage of crypto investment. Data compiled by Morningstar and Goldman Sachs Asset Management shows that global actively managed ETF assets will approach $1.8 trillion by the end of 2025. Moir pointed out that crypto, as an emerging and growing asset class, is particularly well-suited for active management; 21Shares combines bottom-up research and quantification of single assets with independent top-down strategies for risk and allocation management, and has expanded its portfolio management and trading teams. Moir added that the integration following FalconX's acquisition of 21Shares in October is expected to accelerate product development, especially in more complex products. Moir noted that demand for crypto ETPs and ETFs varies across regions; in Europe, where the investor base is more mature, institutions already holding Bitcoin and Ethereum are seeking to further increase their crypto allocations. Against this backdrop, 21Shares recently launched an exchange-traded product in Europe linked to Strategy Preferred Stock (STRC), offering exposure to high-yield instruments related to the company's Bitcoin capital strategy, and reported strong early demand in several regions. The report notes that as the crypto ETP and ETF markets develop, issuers are launching more complex structures, with staking becoming one of the growth directions; Grayscale introduced staking into its ETP in October, and BlackRock launched a Nasdaq-listed Ethereum product with a staking mechanism in March, recording $15.5 million in trading volume on its first day. Duncan Moir stated that 21Shares evaluates new products based on internal research, customer needs, and market trends, citing its Bitcoin and Gold ETPs as examples, noting that these products have been running for four years and recently cross-listed in London. (Cointelegraph)

A senior official from the U.S. Transportation Security Administration (TSA) has expressed concerns over significant security risks due to a funding stalemate. According to Jin10, the official highlighted in written testimony that the ongoing financial impasse is creating substantial challenges for maintaining security measures. The TSA is facing difficulties in ensuring adequate resources to address potential threats, which could compromise the safety of transportation systems. The testimony underscores the urgency of resolving the funding issues to prevent any adverse impact on national security.

Republican members of the U.S. Senate Banking Committee are calling on the White House to disclose a report on stablecoin interest, which remains undisclosed. According to NS3.AI, lawmakers have nearly reached a 99% consensus on the provisions related to the CLARITY bill. The report by the Council of Economic Advisers analyzes the potential impact of paying interest on stablecoins, particularly concerning deposit outflows from traditional banks and the implications for bank lending. While Republican committee members have been briefed on the findings, the document has yet to be made public.

BHP Group, the leading mining company globally, forecasts a tightening in the global potash market over the coming decade. Bloomberg posted on X, highlighting BHP's strategic focus on expanding its potash operations to meet anticipated demand. The company is investing in its Jansen project in Canada, which is expected to become one of the world's largest potash mines. BHP's move aligns with its long-term strategy to diversify its portfolio and capitalize on the growing need for fertilizers driven by global population growth and agricultural demands. The company believes that the potash market will experience significant supply constraints, prompting the need for increased production capacity. BHP's commitment to the Jansen project underscores its confidence in the future of the potash industry and its potential to contribute to global food security.

According to The Washington Post, court records show that a senior deputy to Justice Department official Jenny Piro admitted at a closed-door hearing this month that the Justice Department had no evidence of wrongdoing by Federal Reserve Chairman Jerome Powell in its criminal investigation into the costs of renovating the Federal Reserve building.

According to the Financial Times, Iran has sent a letter to member states of the International Maritime Organization (IMO) stating that "non-hostile vessels" can pass through the Strait of Hormuz "in coordination with Iranian authorities." In the letter, distributed to IMO members on Tuesday, the Iranian Foreign Ministry stated that Iran has "taken necessary and proportionate measures to prevent aggressors and their supporters from using the Strait of Hormuz to advance hostile actions against Iran." Currently, approximately 3,200 ships are stranded in the Persian Gulf, and at least 22 ships have been attacked by Iran since the conflict began. The IMO held an emergency meeting of member states last week and is negotiating to establish a humanitarian corridor to allow ships facing severe supply shortages to leave the Persian Gulf. Recent ship tracking data indicates that Iran is allowing a small number of vessels to pass through a route within its territorial waters. Analysts believe this route allows Iranian authorities to verify the identities of ships before allowing them passage.

According to Israel's Channel 12, the US may soon announce a one-month ceasefire in the Iran war, a mechanism promoted by US Middle East envoys Witkov and Kushner. As of press time, no other authoritative media outlets have reported on this. Investinglive analyst Eamonn Sheridan stated that this news could signify a reduction in short-term geopolitical risks. The energy market's reaction aligns with the removal of some war risk premiums. The decline in oil prices reflects the energy market's continued high sensitivity to any signs of a possible de-escalation of regional tensions, even temporarily. While such a long ceasefire may not necessarily resolve a broader conflict, it suggests a potential reduction in hostilities in the short term, thereby reducing the risk of disruption to regional energy infrastructure and shipping routes. For traders, the key is that oil prices have consistently carried a significant risk premium associated with concerns about a broader escalation. Any report suggesting a possible formal pause in the conflict could trigger a rapid repricing in the market, especially given positions biased towards supply risk concerns. This situation appears to be exactly as described; however, the sustainability of this trend may depend on whether the report receives official confirmation and whether the proposed ceasefire mechanism gains clear support from all relevant parties. Currently, this news points to an ongoing process, rather than a completed agreement. Therefore, the market will continue to closely monitor subsequent developments, including official statements, remarks from Israeli and US officials, and any responses from the other side. (Jinshi)

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