Global X estimates transportation to be the biggest winner as the US Senate works to pass the new $579 billion infrastructure bill, according to CNBC.
The electric vehicles segment in the transportation sector is said to benefit big in the bill due to the drive for clean technology.
Global X’s head of research and strategy reported that 3% of vehicle sales in May and June were electric, and the figure could even go higher.
Global X’s report findings are affirmed by $4 billion of inflows in its two ETFs; U.S. Infrastructure Development ETF and Lithium & Battery Tech ETF.
Each ETF has an estimated $4 billion in assets. PAVE: CBOE is down –1.43% LIT: NYSE Arca is down -4.31%