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Market Moves: Week Ending 1 March 2024

Justin Lin
Justin Lin
05 Mar 2024
  • Crypto ETFs (CRYP, EBTC, EETH) were the top performers of the week after Bitcoin hit an all-time Australian dollar high of $100,000.1 Investor demand has been buoyed by US spot Bitcoin ETF demand and the impending ‘halving’ event which will permanently reduce the amount of Bitcoin available to crypto miners.2
  • Short equity funds (BEAR, BBOZ, BBUS, SNAS) were the poorest performers of the week after the S&P 500 hit all-time highs for a seventh consecutive week.3 US equities have shrugged off high interest rates as companies demonstrated strong profit margins in the recent earnings season and the threat of further rate hikes remains low.
  • There were $902.8 million in reported inflows for the shortened week and $333.2 million in outflows, marking a strong week of net inflows for the Australian ETF industry.

Download our weekly ETF monitor here.

Looking for more ETF Express content? Check out this week’s Thematic Spotlight and Commodity Calls.

 

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