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Market Moves: Week Ending 22 November 2024

Cryptocurrency ETFs (IBTC, EBTC, BTXX, IETH, EETH) had another week at the top of the pops as Bitcoin reached all-time highs. This comes as Trump and his election party have shown strong support for crypto, including accumulating a US government Bitcoin stockpile reserve and pledge to make the US the “crypto capital of the planet”.¹
Chinese equity ETFs (CNEW, CETF) slipped after some disappointing tech earnings, paired with ongoing geopolitical tensions as Trump threatens an additional 10% tariff on all Chinese imports when he takes office in January 2025.
There were $612.3 million in reported inflows for the week and $185.8 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 26/11/2024. 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: Global X Research Team

Date:
Nov 26, 2024

Category:
Reports

Topics:
ETF Express, Market Moves

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