ETFs: Mainly technology, defense, and gold mines

The AI euphoria continues, with tech stocks climbing to new highs. This also applies to gold, the crisis currency. Gold mine trackers are benefiting enormously. Those who want to invest more broadly usually opt for world or US trackers.

7 October 2025. FRANKFURT (Börse Frankfurt). Wall Street continues its rally, gold and Bitcoin reach all-time highs, and the DAX is also back on track to reach its historic high at 24,422 points on Tuesday afternoon. The big themes in ETF trading are therefore tech stocks, mining stocks, and cryptocurrencies—apart from the ever-popular defense trackers. Overall, purchases clearly outweigh sales, as Frank Mohr of Société Générale reports. Turnover has picked up somewhat recently, reports Ivo Orlemann of ICF Bank.

“Demand for tech ETFs has risen again, probably due to the OpenAI/AMD deal,” explains Michael Norizin of Lang & Schwarz, referring to OpenAI's billion-dollar order for US chip manufacturer AMD. Semiconductor ETFs such as iShares MSCI Global Semiconductors (IE000I8KRLL9) are currently being bought up in particular. Mohr sees many purchases for Xtrackers Artificial Intelligence & Big Data (IE00BGV5VN51) and Xtrackers MSCI World Information Technology (IE00BM67HT60). However, more specialized areas are also being targeted, such as electromobility (IE00BGL86Z12), digital security (IE00BG0J4C88), and even China's tech sector (LU2265794946). 

Defense ETF triples in value in two and a half years

At the same time, the boom in defense stocks continues. Particularly popular is the VanEck Defense (IE000YYE6WK5), as reported by Norizin. Orlemann also sees high demand for the WisdomTree Europe Defense (IE0002Y8CX98). Both continue to rise. The price of VanEck Defense has now tripled since the ETF was launched in April 2023. 
According to Norizin, the sharp rise in demand for hydrogen ETFs, such as Global X Hydrogen (IE0002RPS3K2), is also striking. By April of this year, the ETF, launched in 2022, had suffered heavy losses. Since then, its price has more than doubled.

Gold mining ETFs: Steep rise

However, gold mining ETFs have performed best this year. The reason: The price of gold is approaching the US$4,000 mark, with the most recent all-time high at US$3,969. According to Norizin, the VanEck Gold Miners and VanEck Junior Gold Miners (IE00BQQP9F84, IE00BQQP9G91) as well as the UBS Solactive Global Pure Gold Miners (IE00B7KMNP07) are particularly in demand. All three have more than doubled in price since the beginning of the year. Interest in platinum and palladium ETCs also remains strong. According to Orlemann, in addition to VanEck gold mining ETFs, precious metal ETCs are also in demand, for example on gold (IE00B579F325), silver (JE00B1VS3333) and palladium (JE00B1VS3002). 

According to traders, there is some trading activity in both directions in VanEck Rare Earth and Strategic Metals (IE0002PG6CA6), which tracks companies in the rare earths sector. According to Norzin, VanEck Uranium and Nuclear Technologies (IE000M7V94E1), which provides access to companies in the uranium mining and nuclear energy infrastructure sectors, is also in high demand.

Major indices: World and US trackers particularly sought after

In trading with ETFs on the major indices, world ETFs are currently particularly popular, as Mohr reports, for example from iShares. “At the beginning of the month, we always see a lot of buying due to the many MSCI World savings plans,” he explains. Trading in US ETFs is somewhat more mixed, with a slight buying surplus. “There were many sales in the Vanguard S&P 500 (IE00B3XXRP09), but inflows in the iShares Core S&P 500 (IE00B5BMR087) and Amundi Core Nasdaq-100 Swap (LU1829221024).” According to Mohr, DAX trackers tend to be on the sell list, while MSCI Europe and Stoxx Europe 600 ETFs are being traded on both sides.

Despite Bitcoin record: purchases and sales of crypto ETNs

There is also a lot of activity in crypto ETNs, mostly in the major coins, as Norizin reports. “But these are purchases and sales,” he adds. Orlemann sees a lot of interest in Bitcoin, Ethereum, Solana, and Ripple trackers, such as WisdomTree Physical Bitcoin (GB00BJYDH287), WisdomTree Physical Ethereum (GB00BJYDH394), and 21Shares XRP on Ripple (CH0454664043). Bitcoin climbed to $125,965 yesterday, Monday, a new all-time high. Currently, it is hardly any lower.