A new ETF playoff champion has been crowned. Artificial Intelligence routed spot Bitcoin ETFs to claim the first-ever ETF championship.
Last week, in advance of the big game party Exchange is hosting at LIV on February 11th, investors voted on their favorite investing ideas in 2024. Consequently, Artificial Intelligence came out on top. AI defeated a host of compelling trends and strategies. These ideas included actively managed fixed Income, equal weight large caps, index core bond funds, healthcare funds, gold, and spot bitcoin ETFs.
Why Artificial Intelligence Won
Spot bitcoin ETFs had momentum going into the final matchup. The long-sought SEC approval for such funds combined with a general recovery in the cryptocurrency space set the stage. However, artificial intelligence proved too compelling to overcome. Accordingly, investors are intrigued by the far-reaching possibilities of AI, which could impact multiple sectors of the global economy in 2024.
VettaFi head of research Todd Rosenbluth said. “Spot bitcoin ETFs like the Grayscale Bitcoin Trust (GBTC) and iShares Bitcoin ETF (IBIT) garnered a lot of attention since they began trading as ETFs in January. So, it’s a pleasant surprise that many people believe the investment theme of artificial intelligence has room for continued growth. ETFs like the Global X Artificial Intelligence & Technology ETF (AIQ) and the ROBO Global Artificial Intelligence ETF (THNQ) were strong performers in 2023.”