Macro Summary
Total market volume reached $248.77B for the session, trading generally in line with its 30-day average at 98%. Broad activity remained balanced, with outsized volume appearing strictly within specific thematic and non-traditional segments. Digital Assets stood out as the most active asset class, trading at 160% of its normal ADV, led notably by significant volume in Bitcoin ETFs. Conversely, Commodity and Alternative volumes remained muted.
| Asset Class | Volume | 30D Avg. | % of 30D Avg. |
|---|---|---|---|
| Equity | $159.27B | $164.28B | 97% |
| Fixed Income | $21.96B | $28.31B | 78% |
| Commodity | $4.45B | $7.56B | 59% |
| Digital Asset | $6.41B | $4.02B | 160% |
| Currency | $102.32M | $114.29M | 90% |
| Alternative | $936.35M | $1.06B | 89% |
| Non-Traditional | $55.43B | $48.76B | 114% |
| Multi-Asset | $221.68M | $247.51M | 90% |
Equity
Equity ETFs recorded $159.27B in total volume, tracking near average at 97% of ADV. Activity spiked noticeably within Thematic ETFs, particularly in Health Innovation (320% ADV) and Disruptive Tech (170% ADV). Financials also saw elevated trading, pushing the sector to 146% of its typical volume.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Equity: Thematic – Health Innovation | 320% | $260.29M | +2.99% |
| Equity: Thematic – Disruptive Tech | 170% | $4.52B | -0.84% |
| Equity: Sector – Financials | 146% | $4.55B | +2.28% |
| Equity: Specialty – Long | Short | 134% | $253.66M | +0.12% |
| Equity: Thematic – Industrial Revolution | 133% | $887.68M | +0.52% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| FELC | Fidelity Enhanced Large Cap Core ETF | 534% | $156.06M | +0.28% |
| FFLG | Fidelity Fundamental Large Cap Growth ETF | 405% | $11.77M | +0.49% |
| CAOS | Alpha Architect Tail Risk ETF | 397% | $15.02M | -0.04% |
| PTL | Inspire 500 ETF | 367% | $29.69M | -1.46% |
| IAI | iShares U.S. Broker-Dealers & Securities Exchanges ETF | 363% | $67.76M | +2.79% |
| ARKG | ARK Genomic Revolution ETF | 347% | $251.57M | +7.36% |
| TDI | Touchstone Dynamic International ETF | 338% | $11.67M | -0.31% |
| RSPT | Invesco S&P 500 Equal Weight Technology ETF | 334% | $67.86M | -1.31% |
| CSRE | Cohen & Steers Real Estate Active ETF | 325% | $10.55M | +1.65% |
| EFIV | State Street SPDR S&P 500 ESG ETF | 321% | $8.20M | +0.96% |
Fixed Income
Fixed Income volume closed at $21.96B, representing a sluggish 78% of its 30-day average. Short-term taxable bonds drove isolated activity, pushing the Taxable – Short-Term category to 143% of its ADV amidst an otherwise quiet session for debt markets.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Fixed Income: Taxable – Short-Term | 143% | $1.35B | +0.04% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| SPSK | SP Funds Dow Jones Global Sukuk ETF | 504% | $26.04M | +0.11% |
| LQDH | iShares Interest Rate Hedged Corporate Bond ETF | 284% | $7.31M | -2.43% |
| BSJR | Invesco BulletShares 2027 High Yield Corporate Bond ETF | 262% | $8.22M | +0.11% |
| IGSB | iShares 1-5 Year Investment Grade Corporate Bond ETF | 253% | $426.39M | +0.06% |
| BSJQ | Invesco BulletShares 2026 High Yield Corp Bond ETF | 249% | $15.94M | +0.02% |
| KORP | American Century Diversified Corporate Bond ETF | 248% | $8.79M | -0.25% |
| MYCH | State Street My2028 Corporate Bond ETF | 236% | $15.83M | +0.12% |
| PCY | Invesco Emerging Markets Sovereign Debt ETF | 225% | $14.25M | +0.21% |
| JPST | JPMorgan Ultra-Short Income ETF | 216% | $686.12M | -0.02% |
| IBTG | iShares iBonds Dec 2026 Term Treasury ETF | 200% | $15.91M | +0.04% |
Commodity
Commodities experienced a subdued session, with total volume at $4.45B, representing only 59% of the 30-day average. Broad weakness across energy and agricultural funds kept overall trading light, though select multi-sector strategies saw minor upticks.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| CMDY | iShares Bloomberg Roll Select Commodity Strategy ETF | 208% | $9.25M | -1.01% |
Digital Asset
Digital Assets saw the strongest relative volume of the day, logging $6.41B and tracking at 160% of its normal ADV. The action was heavily concentrated in Cryptocurrency – Bitcoin funds, which commanded $5.72B in volume despite broad price declines across the segment.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Digital Asset: Cryptocurrency – Bitcoin | 168% | $5.72B | -2.33% |
| Digital Asset: Cryptocurrency – Altcoin | 135% | $100.25M | -3.29% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| BTC | Grayscale Bitcoin Mini Trust ETF | 207% | $110.40M | -2.96% |
| BRRR | Coinshares Bitcoin ETF | 192% | $7.70M | -2.85% |
| BITO | ProShares Bitcoin ETF | 185% | $2.33B | -2.97% |
| MSBT | Morgan Stanley Bitcoin Trust ETF | 179% | $16.93M | -3.15% |
| BITB | Bitwise Bitcoin ETF Trust | 175% | $100.17M | -3.07% |
| FBTC | Fidelity Wise Origin Bitcoin Fund | 169% | $375.64M | -3.03% |
| BTCO | Invesco Galaxy Bitcoin ETF | 168% | $10.64M | -2.85% |
| EZBC | Franklin Bitcoin ETF | 167% | $12.95M | -2.82% |
| XRPZ | Franklin XRP ETF | 167% | $5.87M | -2.83% |
| HODL | VanEck Bitcoin ETF | 157% | $32.99M | -2.82% |
Currency
Currency ETFs traded at 90% of their 30-day average volume, totaling $102.32M for the session. The asset class saw limited overall movement, though FXE (Euro) recorded an isolated surge in activity.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| FXE | Invesco CurrencyShares Euro Trust | 331% | $58.80M | +0.18% |
Alternative
Alternative strategies posted a muted session, gathering $936.35M in total volume to finish at 89% of ADV. Action remained quiet across both absolute return and volatility-based funds, with no significant volume outliers noted.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
No items met the inclusion criteria for this session.
Non-Traditional
Non-Traditional ETFs were active, tallying $55.43B in volume at 114% of their typical ADV. Leverage and Inverse products dominated the tape, heavily skewed by outsized volume in Single Stock and Crypto-linked instruments.
High-Volume Categories
| Category | Activity vs ADV | $ Volume | 1-Day Return |
|---|---|---|---|
| Non-Traditional: Leverage | Inverse – Crypto | 172% | $848.52M | -3.47% |
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| MVLL | GraniteShares 2x Long MRVL Daily ETF | 1257% | $1.35B | +6.46% |
| MUU | Direxion Daily MU Bull 2X ETF | 250% | $3.56B | -16.24% |
| BALT | Innovator Defined Wealth Shield ETF | 206% | $25.09M | +0.10% |
| PJUN | Innovator U.S. Equity Power Buffer ETF – June | 205% | $14.46M | +0.22% |
| MULL | GraniteShares 2x Long MU Daily ETF | 190% | $341.16M | -16.41% |
| AAOX | Tradr 2X Long AAOI Daily ETF | 183% | $449.37M | +15.89% |
| FAS | Direxion Daily Financial Bull 3X ETF | 176% | $138.53M | +7.61% |
| GGLL | Direxion Daily GOOGL Bull 2X ETF | 171% | $306.68M | +6.67% |
| DLLL | GraniteShares 2x Long DELL Daily ETF | 168% | $74.65M | -1.38% |
| QQA | Invesco QQQ Income Advantage ETF | 167% | $10.67M | -0.37% |
Multi-Asset
Multi-Asset volume settled at $221.68M, marking 90% of its normal activity. Action was somewhat concentrated in Specialty strategies, particularly Multi-Asset Income and Real Assets, while broad Target Risk flows remained quiet.
High-Volume Categories
No items met the inclusion criteria for this session.
High-Activity Ticker Outliers
| Ticker | Name | Activity vs ADV | $ Volume | 1D Return |
|---|---|---|---|---|
| INCM | Franklin Income Focus ETF Income Focus ETF | 218% | $22.00M | +0.58% |
| RAAX | VanEck Real Assets ETF | 207% | $19.30M | -0.34% |
| RLY | State Street Multi-Asset Real Return ETF | 182% | $13.67M | -0.23% |
