Theme Tracker: Crypto Heats Up, Solar Shines Bright, Cleantech Charges Ahead

A fresh bout of risk appetite swept U.S. markets last week. Regulatory clarity for digital assets—the landmark GENIUS Act that sets reserve rules for stablecoins—helped send the total crypto market-cap above $4 trillion and unlocked a surge of inflows into crypto-linked ETFs. At the same time, broad ETF flow data show investors rotating out of bonds and into growth-oriented equity and crypto funds, underscoring a “risk-on” mood across asset classes.

Against that backdrop, five ETFs stood out as the market’s brightest momentum plays.

1. CoinShares Valkyrie Bitcoin Miners ETF (WGMI)

Performance: 1-Week +5.35 %

Theme: Bitcoin mining infrastructure

Why It Moved: Crypto-friendly legislation and Bitcoin’s push toward fresh highs funneled capital into miners, whose revenues scale directly with hash-price.

2. Grayscale Bitcoin Miners ETF (MNRS)

Performance: 1-Week +5.62 %

Theme: Bitcoin mining infrastructure

Why It Moved: Follows WGMI higher as institutional demand for diversified miner exposure rebounds amid stronger BTC price action.

3. Schwab Crypto Thematic ETF (STCE)

Performance: 1-Week +2.88 %

Theme: Broad digital-asset ecosystem

Why It Moved: Benefited from record weekly inflows to spot Bitcoin and Ethereum funds and renewed optimism after the GENIUS Act.

4. Invesco Solar ETF (TAN)

Performance: 1-Week +2.66 %

Theme: Solar power & renewables

Why It Moved: Clean-tech shares bounced as investors rotated back into growth themes and bargain-hunted quality solar names after a tough Q2.

5. ProShares S&P Kensho Cleantech ETF (CTEX)

Performance: 1-Week +3.28 %

Theme: Next-gen environmental tech

Why It Moved: Broader cleantech cohort caught the same tailwinds, aided by expectations that forthcoming tax incentives will stay intact through 2028.

Thematic Insight – Sustainable Rally or Sugar-High?

Crypto: Regulatory momentum is real, but the rapid 40% two-week jump in Bitcoin and Ether leaves sentiment stretched. Expect volatility, especially if forthcoming Fed commentary revives rate-hike jitters.

Cleantech/Solar: Policy overhangs remain (e.g., proposed tweaks to clean-energy credits), yet valuations have reset dramatically since spring. If bond yields stabilize, the space could see follow-through as investors search for durable growth outside megacap tech.

Positioning Tip: For risk-tolerant investors, staggering entries—rather than chasing—may help manage drawdowns. Pairing thematic upside with cash-flow stalwarts (e.g., utilities or dividend ETFs) can dampen portfolio swings if the risk-on breeze fades.

Bottom Line

Last week’s tape rewarded the bold: crypto miners and cleantech innovators out-ran the broader market as investors embraced growth and regulation-driven narratives. Whether this marks the start of a prolonged thematic upswing or just a summer squeeze will hinge on macro data and Washington’s next policy moves—but for now, risk is back on the menu.

Compare top Crypto-Miner, Cleantech, and Solar funds side-by-side with our ETF Compare Tool