IBIT Rose 2.65% Friday as Crypto ETFs Led

Bitcoin Trust IBIT rose 2.65% on Friday, leading moves across the ETFs we track, with Ethereum Trust ETHA also stronger at +1.99% in Specialty. In equities, technology funds outperformed as XLK gained 1.49% and IYW added 1.33%, while Energy XLE and Covered Calls S&P JEPI each fell 1.34%; in fixed income, short-duration government exposure edged higher but high-yield credit lagged.

Equity: Technology rebounded 1.49%

Outperformers: Technology XLK +1.49% (3M perf: +12.6%), US Technology IYW +1.33% (+11.5%)

Underperformers: Energy XLE -1.34% (3M perf: +16.0%), Covered Calls S&P JEPI -1.34% (-1.1%)

3M Regime

Strong: South Korea EWY (3M perf: +32.3%), Taiwan EWT (+32.2%), Energy XLE (+16.0%)

Weak: China MCHI (3M perf: -7.5%), China Large Cap FXI (-7.1%), Copper Miners COPX (-6.8%)

Signals to Monitor

Volatility Compression: Copper Miners COPX, Dow Jones DIA, High Dividend DVY

Overbought: Taiwan EWT, US Technology IYW, Nasdaq 100 QQQ

Fixed Income: High Yield Bonds weakened 0.44%

Outperformers: Short TIPS VTIP +0.14% (3M perf: +1.5%), Int. Treasuries VGIT +0.10% (unch.)

Underperformers: High Yield Bonds JNK -0.44% (3M perf: +0.2%), High Yield HYG -0.40% (+0.1%)

3M Regime

Strong: Short TIPS VTIP (3M perf: +1.5%), TIPS TIP (+0.8%), EM Sovereign Bonds EMB (+0.3%)

Weak: Inv. Grade Credit LQD (3M perf: -0.7%), Long Treasuries TLT (-0.7%), Global Bonds BNDX (-0.3%)

Signals to Monitor

Overbought: Short TIPS VTIP

Specialty: Bitcoin Trust climbed 2.65%

Outperformers: Bitcoin Trust IBIT +2.65% (3M perf: -6.4%), Ethereum Trust ETHA +1.99% (-13.6%)

Underperformers: Gold Miners GDX -1.34% (3M perf: -7.5%), Biotechnology IBB -0.84% (-2.9%)

3M Regime

Strong: Semiconductors SMH (3M perf: +26.4%), Clean Energy ICLN (+15.4%), Infrastructure PAVE (+11.7%)

Weak: Ethereum Trust ETHA (3M perf: -13.6%), Gold Miners GDX (-7.5%), Bitcoin Trust IBIT (-6.4%)

Signals to Monitor

Volatility Compression: Managed Futures DBMF, Ethereum Trust ETHA, Long/Short Equity FTLS

Overbought: Long/Short Equity FTLS, Momentum Factor MTUM, Semiconductors SMH

Romain Gandon — CEO, Quantlake

Disclaimer: This article is for informational and educational purposes only and does not constitute investment advice. Past performance is not indicative of future results.