Market Moves: Week Ending 28 February 2025

• Short equity funds (SNAS) were the top performers of the week as trade war concerns came back into play. This week Trump will enforce a 25% US tariff across almost all goods imported from Canada and Mexico, as well as an additional 10% tariff on Chinese goods.¹ Traders dialled back risk exposures on fears of trade retaliation and rising inflation.
• Cryptocurrency ETFs (BTXX, EBTC, EETH, IBTC, IETH, QBTC, QETH, VBTC) fell across the board last week after a major security breach at the cryptocurrency exchange Bybit saw US$1.5 billion of Ethereum stolen.² Traders also sold-off crypto in general as risk-off sentiment took hold. US Bitcoin ETFs saw substantial outflows, with investors withdrawing around US$3.3 billion in February.³
• There were $667.2 million in reported inflows for the week and $74.9 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.