This week's highlights
Top performers last week were congregated around renewable energy – with TANN, CLNE, URNM, HGEN and ERTH all focussing on this niche. Clean energy stocks have benefitted from a $370 billion support package clearing the US senate, thanks to holdout West Virginian senator Joe Manchin changing his vote.
Ethereum, which is tracked via the ETFS 21Shares Ethereum ETF (EETH), also featured in the top 10. Ethereum provided a near 55% return in Aussie dollars in July, sharply outperforming bitcoin. The rally was driven by optimism about the blockchain upgrading to a more efficient and environmentally friendly proof-of-stake protocol.
Geared inverse funds BBOZ, SNAS, BBUS – which make downbeat wages on US and Australian share markets – were the bottom performers as share markets rallied sharply.
The industry saw $416 million in reported inflows, making it one of the biggest weeks in recent months. Inflows were focussed on equity ETFs, suggesting investor sentiment is turning more bullish.
The industry saw just $32 million in reported outflows, with AAA and BNKS providing the bulk of these. The small value of reported outflows is another signal of bullishness.
Trading volumes centred on the usual suspects, with VAS, Australia’s largest index ETF, enjoying another week on the top spot.