Market Moves: Week Ending 28 March 2024

  • Crypto ETFs (EBTC, EETH) were the top performers of the week as investors geared up for the impending Bitcoin ‘halving’.1 Historically, Bitcoin’s price has rallied dramatically in periods following the ‘halving’. Analysts currently expect the event to occur on the 20th of April.2
  • Gold mining ETFs (GDX, MNRS) also outperformed as gold hit a new all-time high of ~US$2265 on bullish sentiment surrounding Fed rate cuts and central bank purchases.3
  • Short equity funds (BBOZ, BEAR) were the poorest performers after Australian shares hit a record high of 7900 points before the Easter weekend.4 The rally was driven by a rebound in resource prices such as gold and iron ore.5 Interest rate sensitive stocks also climbed as investors bet on rate cuts in the latter half of the year.
  • There were $309.9 million in reported inflows for the shortened week and $83.4 million in outflows, marking a week of net inflow 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 03/04/2024. Investing involves risk, including the possible loss of principal. Diversification does not ensure a profit nor guarantee against a loss.

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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.