Bitcoin, Blockchain and India Among the Best Performing Themes of H1 2024: Ned Davis Research

June 28, 2024 10:59 AM ETTO SPY, AMZN, NVDA, GDX, EVX, AMLP, GO AWAY, INCO, URTH, HALF, EMQQ, GBTC, MILAN, ESGU, BLOCK, Quality of artificial intelligence, EXPO, SP500, FIGS, METV, USCAFrom: Carla MozeeSA News Editor

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Bitcoin-Focused Exchange Traded Funds (BTC-USD exchange rate), blockchain technology and the Indian economy were the best-performing themes in H1 2024, said Ned Davis Research.

The Grayscale Bitcoin Trust ETF (GBTC) tops NDR’s list released Thursday as part of its mid-year forecast. Grayscale’s John Hoffman at In Search of the Alpha Vertex last week he predicted that cryptocurrencies “will be in every wallet” in the next 20 years.

So far in 2024, the MSCI World Index (IMPACT) gained 11%. The S&P 500 Index (SP500)(TO SPY)(GO AWAY) advanced about 15%, fueled largely by large-cap technology stocks including Nvidia (NVDA) and Meta (Metaphysics).

Here is the list of NDR themes and ETFs with performance from the beginning of the year until early Friday. *ETF weight in ‘Magnificent 7‘ are in brackets:

• Topic: Bitcoin – Grayscale Bitcoin Trust ETF (GBTC) – Year-to-date earnings: 54.5%
• Topic: Blockchain – Amplifying Transformational ETF Data Sharing (BLOCK)*(1.4) – YTD Earnings: 20.3%
• Topic: India – Colombia India Consumers (INCO) – Year-to-date earnings: 19.2%
• Topic: 5G and IoT – Defiance 5G Next Gen Connectivity ETF (FIGS) *(12.9) – YTD Earnings: 16.5%
• Theme: Video Games – VanEck Video Gaming and eSports ETF (EXPO) – YTD Earnings: 18.3%
• Theme: Climate Change – Xtrackers MSCI USA Climate Action Equity ETF (USCA)*(32.0) – YTD Earnings: 16.3%
• SPDR S&P 500 ETF Fund (TO SPY)*(32.5) – Year-to-date earnings: 15.3%
• Theme: AI & Automation – GlobalAIQ)*(24.1) – YTD Earnings: 14.7%
• Topic: ESG – iShares ESG Aware MSCI USA ETF (ESGU)*(31.0) – Year-to-date earnings: 14.6%
• Theme: Metaverse – Roundhill Ball Metaverse ETF (METV)*(33.7) – Year-to-date earnings: 14.5%
• Theme: Environmental Services – VanEck Environmental Services ETF (EVX) – Year-to-date earnings: 11.9%
• Theme: MLP – Alerian MLP ETF (AMLP) – YTD gain: 12%
• Topic: Millennials GlobalMILAN)*(12.8) – YTD Earnings: 9.1%
• Topic: Gold/Silver Miners – VanEck Gold Miners ETF (GDX) – YTD Earnings: 10.7%
• Theme: Emerging Markets – Internet & Ecommerce ETFs on Emerging Markets (EMQQ) – YTD Earnings: 8.3%

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