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, I WANT, INCO, URTH, HALF, EMQQ, GBTC, MILNO, ESGU, BLOCK, AIQ, EXPO, SP500, FIVG, METV, USCAFrom: Carla MozeeSA News Editor

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Bitcoin-Focused Exchange Traded Funds (BTC-USD), blockchain technology and the Indian economy were the best-performing themes during the first half of 2024, Ned Davis Research said.

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 (URTH) gained 11%. The S&P 500 Index (SP500)(TO SPY)(GO AWAY) grew by around 15%, thanks mainly to large-cap technology stocks, including Nvidia (NVDA) and Meta (Metaphysics).

Here is the list of NDR themes and ETFs with YTD performances until Friday morning. *ETF weight in ‘Magnificent 7‘ are in brackets:

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

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