Market Moves: Week Ending 14 March 2025

• Gold mining ETFs (GDX, MNRS) were a theme across the top performers last week after physical gold (GOLD eclipsed US$3000 per ounce for the first time.¹ The safe haven asset has surged 13% YTD as investors sought refuge from market volatility and global central banks continued to accumulate the precious metal.²
• Cryptocurrency ETFs (BTXX, CRYP, EETH, IBTC, IETH, QETH) were the poorest performs of the week. Investors were disappointed at President Trump’s proposed implementation of a US strategic Bitcoin reserve, which only involved assets seized through legal actions, rather than active government purchases.³ Trade war and tariff fears also continued to dampen risk-on sentiment.
• There were $1.4 billion in reported inflows for the week and $1.2 billion in outflows, marking a week of net inflows for the Australian ETF industry.

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