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Market Moves: Week Ending 1 March 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.

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Authored by: Justin Lin

Date:
Mar 5, 2024

Category:
Reports

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Global X Management (AUS) Limited (“Global X”) (Australian Financial Services Licence Number 466778, ACN 150 433 828) is the product issuer. Offers of interests in any retail product will only be made in, or accompanied by, a Product Disclosure Statement (PDS). In respect of each retail product, Global X has prepared a target market determination (TMD). Each PDS and TMD is available at www.globalxetfs.com.au. The information on this website is general in nature only and does not take into account your personal objectives, financial situations or needs. Before acting on any information, you should consider the appropriateness of the information having regard to your objectives, financial situation or needs and consider seeking independent financial, legal, tax and other relevant advice having regard to your particular circumstances. Any investment decision should only be made after obtaining and considering the relevant PDS and TMD. Investments in any product issued by Global X are subject to investment risk, including possible delays in repayment and loss of income and principal invested. The value or return of an investment will fluctuate and an investor may lose some or all of their investment. Past performance is not a reliable indicator of future performance.

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