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The 2024 trading year is off to a strong start and many exchange traded funds are following suit. Of the best performing ETFs on the year, the space is littered with crypto (BTC-USD) (ETH-USD) focused and cannabis based funds. Inside the top 10 best performing ETFs of the year the two segments represent seven of the ten names.
See below a list of the best performing ETFs of 2024 put together by Seeking Alpha.
Top 10 Performing ETFs of 2024
No. 10: iShares MSCI Turkey ETF (TUR) +15.3% YTD.
No. 9: Valkyrie Bitcoin and Ether Strategy ETF (BTF) +15.5% YTD.
No. 8: Hashdex Bitcoin Futures ETF (DEFI) +15.6% YTD.
No. 7: Simplify Bitcoin Strategy PLUS Income ETF (MAXI) +16.1% YTD.
No. 6: AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) +22.4% YTD.
No. 5: Amplify U.S. Alternative Harvest ETF (MJUS) +22.4% YTD.
No. 4: Roundhill Cannabis ETF (BATS:WEED) +25.2% YTD.
No. 3: Simplify Interest Rate Hedge ETF (PFIX) +26.6% YTD.
No. 2: Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) +27.4% YTD.
No. 1: Simplify Tail Risk Strategy ETF (CYA) +343.2% YTD.
On a separate note, the three worst performing exchange traded funds of 2024 are the Global X MSCI Nigeria ETF (NGE), Sprott Lithium Miners ETF (LITP), and the KraneShares European Carbon Allowance Strategy ETF (KEUA). Year-to-date NGE is -32.4%, LITP is -31%, and KEUA is -30.7%.
What’s Next for Crypto and Cannabis?
“Bitcoin has a lot going for it at the moment. For starters, we are seeing a big rise in network utilization, which is reflected in the higher network fees,” Seeking Analyst James Foord stated in Bitcoin Near $50,000, What Next?
“The setup for cannabis stocks is among the most promising in years, and MSOS may be a convenient way to invest,” Julian Lin said in MSOS: One Of The Most Promising Setups For Cannabis Stocks In Years.
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