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Market Moves: Week Ending 1 November 2024

Cryptocurrency ETFs (BTXX, EBTC, IBTC) traded higher as investors continued to bet tentatively on the possibility of a Trump administration.¹ While Bitcoin edged higher over the week, trading volumes were relatively low – indicating caution ahead of the US election.
A uranium ETF (URNM) was the poorest performing fund of the week after a US regulatory body blocked Amazon’s power purchase agreement with Talen Energy at its US$650 million nuclear powered datacentre.² The deal was blocked on the basis of favouring corporate benefit over energy security for the general public.
There were $628.8 million in reported inflows for the week and $147.7 million 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.

^{Forecasts are not guaranteed and undue reliance should not be placed on them. This information is based on views held by Global X as at 05/11/2024. Investing involves risk, including the possible loss of principal. Diversification does not ensure a profit nor guarantee against a loss.}

^{Brokerage commissions will reduce returns.}

^{This material represents an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. This information is not intended to be individual or personalised investment or tax advice and should not be used for trading purposes. Please consult a financial advisor or tax professional for more information regarding your investment and/or tax situation.}

Authored by: Justin Lin

Date:
Nov 5, 2024

Category:
Reports

Topics:
ETF Express, Market Moves

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