| | | | | | | March 24, 2025 | | | |  | Jeff Bergstrom
Editor
John Lothian News | |
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| | | | Lead Stories | | | US Ether ETFs Suffer Longest Outflow Streak as Token Lags Rivals; The Ethereum blockchain faces questions over its direction; Funds tracking the Ether token suffered 13 days of outflows
Sidhartha Shukla - Bloomberg
US exchange-traded funds investing directly in Ether have been hit by their longest run of daily withdrawals since launching in July 2024, underscoring shaky demand for the second-largest cryptocurrency. The group of nine ETFs have shed about $415 million across 13 straight days of net outflows, according to data compiled by Bloomberg. Bitcoin ETFs in the US, by contrast, have rebounded from a period of waning investor demand to post six consecutive days of net inflows up until March 21.
/jlne.ws/4hFbLqC
Turkey Bans Short Selling, Eases Buyback Rules to Bolster Stocks
Ugur Yilmaz - Bloomberg
Turkey's capital markets regulator banned short-selling across all stocks and relaxed share buyback rules in a bid to prevent further equity losses after the country's benchmark index tumbled last week following the detention of a prominent opposition leader. The new rules, announced late Sunday, broaden a previous ban that limited short-selling to only the top-50 listed companies. In addition, the regulator has allowed listed companies to repurchase shares at prices above the last market close and reduced the minimum equity capital protection requirement for margin trading to 20% from 35%.
/jlne.ws/4kTZWQ2
Wall Street Fear Index Slides as Tariff Fears Ease
George Glover - Barron's
The most widely followed market fear gauge was sliding on Monday, with investors hopeful that U.S. President Donald Trump might not follow through with all of his tariff threats.
The Cboe Volatility Index, which tracks S&P 500 options contracts and trades under the ticker VIX, was down 1.8% to just under 19 in early trading. Any reading of below 20 is typically seen as a sign of relatively low uncertainty.
/jlne.ws/4iPYqN4
Unusual Spike in Equity-Funding Costs Squeezes Smart-Money Crowd
Yiqin Shen - Bloomberg
An unusual rise in funding costs tied to hundreds of billions of dollars' worth of equity investments is squeezing some hedge funds and money managers, while presenting cash-rich market players with an opportunity to rake in profits. So-called financing spreads on S&P 500 Index futures - a cost embedded in the price of derivatives that allow investors to gain exposure to stocks without buying shares outright - have climbed markedly during the recent bull market. They spiked to a record late last year and have remained above historical levels even during the latest downturn.
/jlne.ws/4kTAgDb
| | | | | | Exchanges | | | Coinbase Is in Advanced Talks to Buy Derivatives Venue Deribit
Ben Bartenstein, Anna Irrera, Matthew Monks and Suvashree Ghosh - Bloomberg
Coinbase Global Inc. is in advanced discussions to acquire crypto derivatives exchange Deribit, the world's largest trading platform for Bitcoin and Ether options, according to people with knowledge of the matter. The companies have notified regulators in Dubai about the discussions as Deribit holds a license there, which would be taken over by any acquirer, some of the people said. Coinbase is the biggest US-based crypto exchange, according to data platform Kaiko.
/jlne.ws/4c6j1L3
Reitway Global Debuts First Income-Focused ETF on the JSE
JSE
Trading under the alpha code, RWINC, the fund is structured to mitigate capital loss relative to market movements, as the ETF was built to balance income generation with market resilience. The ETF is designed to give investors exposure to global properties by replicating and tracking the Reitway Global Property Index. Reitway Global is a niche investment management firm, providing products dedicated to Global Listed Property. The company has a concentrated approach that emphasises the global sector perspective aiming to create and preserve wealth over the medium and long term. By focusing on REITs, Reitway provides investors with an opportunity to diversify their portfolio, providing access to listed property stocks in the Americas, Asia Pacific, Europe and the Middle East.
/jlne.ws/4kY7dhW
| | | | | | Regulation & Enforcement | | | Barclays beats two lawsuits in US over $17.7 billion issuance blunder
Reuters
Barclays won the dismissal on Friday of two U.S. securities fraud lawsuits stemming from the British bank's unauthorized sale of $17.7 billion more securities than U.S. regulators allowed. U.S. District Judge Lewis Liman in Manhattan said investors who acquired Barclays' iPath Series B S&P 500 VIX Short-Term Future exchange-traded notes ("VXX") could not sue over general assurances the bank made about its internal controls even as it issued the notes without the required regulatory approval.Liman also dismissed similar claims by investors who got caught in a market squeeze when Barclays suspended VXX sales in March 2022, causing the price of VXX securities they had sold short to soar 140% above their so-called indicative value.
/jlne.ws/4ipUp29
LME fined for failing to hit the brakes in nickel crisis
Andy Home - Reuters
The venerable 148-year old London Metal Exchange (LME) has just made it into the history books for the wrong reasons by becoming the first British trading exchange to be fined by a regulator.
The Financial Conduct Authority's (FCA) imposition of a 9.2 million pound ($11.9 million) penalty draws a line under the 2022 nickel crisis, which resulted in the eight-day suspension of the LME nickel contract and the controversial decision to cancel trades.
/jlne.ws/4hHupOC
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