logo
Back to Insights

Digital Assets

 

Market Moves: Week Ending 3 January 2025

Justin Lin
Justin Lin
07 Jan 2025
Market Moves: Week Ending 3 January 2025
  • Cryptocurrencies (EETH, CRYP, VBTC), in particular Ethereum, were the top performers of the week as traders anticipated the arrival of "alt-coin season".1 Alt-coin season describes periods during crypto bull markets in which "alternate coins" (cryptocurrencies that are not Bitcoin) can outperform Bitcoin.
  • Uranium ETFs (ATOM, URNM) also outperformed after the US government signed a historic power-purchase agreement with Constellation Energy, a nuclear energy provider.2 A bureaucratic hiccup in Kazakhstan also forced one of the world's largest uranium mines to halt operations, causing concerns over supply tightness.3
  • China-focused ETFs (CETF, CNEW, IZZ) were the poorest-performing funds of the week. The Chinese Manufacturing PMI, a widely watched metric for economic health, disappointed after falling from 51.5 to 50.5 in December.4 While any PMI above 50 marks an expansion of activity, analysts had expected a PMI of at least 51.7.
  • There were $347.7 million in reported inflows for the week and $163.4 million in outflows, marking a week of net inflows for the Australian ETF industry.

Download our weekly ETF monitor here.

Looking for more ETF Express content? Check out this week's Thematic Spotlight and Commodity Calls.

Footnotes
 

Related Insights

Subscribe

All of Global X news and product announcements directly to you

*
*
*
*

We adhere to a strict Privacy Policy governing the handling of your information. And you can, of course, opt-out any time.

logo

Material on this website is general in nature only, and does not take into account your personal objectives, financial situations or needs. Before making an investment decision, you should consider the information on this website and seek professional financial advice to assess whether a product is appropriate for you, and obtain and consider the Product Disclosure Statement (PDS) and Target Market Determination (TMD) for the relevant Fund, available from www.globalxetfs.com.au/funds or by calling + 61 2 8311 3488. You can also obtain a disclosure document by emailing info@globalxetfs.com.au. The information on this website has been prepared by Global X Management (AUS) Limited (ABN 13 150 433 828, Australian Financial Services Licence Number 466778) ("Global X") as product issuer of all products on this website except for Global X Physical Gold (GOLD), Silver (ETPMAG), Platinum (ETPMPT), Palladium (ETPMPD) and Precious Metals Basket (ETPMPM) which are issued by and Global X Metal Securities Australia Limited, a corporate authorised representative of Global X (CAR No: 001274650) (MSAL). No company in the Mirae Asset Group (Mirae Asset Global Investments Co., Ltd and its subsidiaries, including Global X and MSAL), nor any of their respective directors, employees or agents, make any representation or warrant as to the currency, reliability, accuracy or completeness of the information or statement of opinion or any previous or subsequent material contained on this website. To the maximum extent permitted by law, no liability or responsibility is accepted for any loss or damage as a result of any reliance on any information on this website. The content on this website may not be reproduced, distributed or published by any recipient for any purpose. Investments in any Global X product 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.