Total ETF market volume registered a quiet $209.94 billion, representing just 86% of the 30-day average daily volume. The session was characterized by a stark divergence in activity, with broad market segments like Equity and Fixed Income trading well below their typical pace. In contrast, highly focused and thematic areas saw intense turnover, as Digital Asset and Commodity ETFs surged to 204% and 149% of their respective 30-day averages, driving the day’s primary narrative.
Asset Class
Volume
30D Avg.
% of 30D Avg.
Equity
$131.33B
$161.42B
81%
Fixed Income
$25.17B
$27.94B
90%
Commodities
$9.99B
$6.71B
149%
Digital Asset
$8.95B
$4.40B
204%
Currencies
$108.8M
$103.5M
105%
Alternatives
$487.9M
$733.1M
67%
Non-Traditional
$33.71B
$43.50B
78%
Multi-Asset
$184.8M
$219.1M
84%
Total
$209.94B
$245.02B
86%
Equity
Equity ETFs saw muted turnover, with total volume of $131.33 billion accounting for only 81% of the recent average. Despite the overall quietude, several thematic categories experienced significant spikes in activity. Health Innovation (400% of ADV), Sustainability (243%), Natural Resources (194%), and Precious Metals (164%) all saw heavy trading. Individual fund outliers were numerous and varied, led by the State Street SPDR S&P Telecom ETF (XTL) at 925% of its ADV, iShares Global Healthcare ETF (IXJ) at 772%, and the ARK Genomic Revolution ETF (ARKG) at 425%.
The Fixed Income space experienced a below-average session, with $25.17 billion changing hands, or 90% of its 30-day ADV. Pockets of concentrated activity emerged in Defined Maturity funds, which traded at 166% of their norm, and Emerging Markets debt at 198%. The session’s volume was dominated by enormous block trades in specific funds, most notably the iShares iBonds Dec 2029 Term Corporate ETF (IBDU) trading 1,269% of its average volume, and the PIMCO Investment Grade Corporate Bond Index ETF (CORP) at an exceptional 1,260% of its ADV.
Commodity ETFs were a focal point of activity, trading $9.99 billion for a robust 149% of their 30-day average. The surge was overwhelmingly driven by the Precious Metals category, which saw 171% of its typical volume. The largest and most liquid gold and silver funds led the charge, with SPDR Gold Shares (GLD) trading $5.94 billion (182% of ADV) and iShares Silver Trust (SLV) trading $1.37 billion (163% of ADV). Other metals also saw heightened interest, including abrdn Physical Platinum Shares ETF (PPLT) at 202% of its norm.
Digital Asset ETFs were the session’s standout, with explosive volume of $8.95 billion representing 204% of the 30-day ADV. The rally was broad-based across the crypto space, with Altcoin (280% of ADV), Ethereum (248%), and Bitcoin (194%) categories all experiencing massive turnover. The iShares Bitcoin Trust ETF (IBIT) was a volume leader, trading $4.83 billion at 320% of its average. Activity in altcoins was also notable, with the Bitwise XRP ETF (XRP) seeing a 584% spike in volume.
Currency ETFs posted a relatively normal session with $108.8 million in volume, or 105% of the 30-day average. Most of the day’s notable activity was concentrated in a single fund. The WisdomTree Bloomberg US Dollar Bullish Fund (USDU) traded $59.1 million, a significant 581% of its typical daily volume, while other currency products saw activity closer to their historical averages.
High-Volume Categories
No items met the inclusion criteria for this session.
The Alternatives asset class had a very quiet day, with volume of just $487.9 million translating to 67% of its 30-day ADV. No categories stood out for unusual activity. The only fund to see a significant volume spike was the First Trust Multi-Strategy Alternative ETF (LALT), which traded at 374% of its average on an otherwise light day for the space.
High-Volume Categories
No items met the inclusion criteria for this session.
Non-Traditional ETFs saw subdued overall volume at $33.71 billion, just 78% of the 30-day average. However, this figure masks the intense activity within the Leveraged and Inverse Crypto category, which traded at 345% of its norm, directly mirroring the surge in the underlying digital asset space. Top movers included the Volatility Shares 2x Bitcoin ETF (BITX) at 476% of ADV and the ProShares Ultra Bitcoin ETF (BITU) at 407% of ADV, as traders amplified their crypto exposure.
Multi-Asset ETFs saw a quiet session with total volume of $184.8 million, or 84% of the 30-day average. Trading was broadly in line with recent norms, with no specific categories showing unusual interest. Minor outliers included the Return Stacked U.S. Stocks & Managed Futures ETF (RSST) at 278% of its ADV and the iShares Core 40/60 Moderate Allocation ETF (AOM) at 230% of its average.
High-Volume Categories
No items met the inclusion criteria for this session.
Single-stock activity was marked by several crypto-related names trading at multiples of their average volume, echoing the theme in the ETF space. StablecoinX, Inc. Class A (USDE) saw an astronomical 36,008% of its ADV on $770.1M of turnover. More broadly, crypto-exposed firms like (COIN), (MSTR), and (HOOD) traded at 296%, 291%, and 275% of their respective averages and are widely held across 260, 177, and 310 ETFs. Separately, biotech firm (MRNA) was also extremely active, trading $12.31 billion in shares, or 677% of its ADV, and is a constituent in 224 different ETFs.
Share Issuer League Tables Note on Flow Volatility: Daily flow outliers may be driven by specialized portfolio rebalancing. With the continued growth of actively managed […]
Share Macro Overview U.S. equities experienced their most significant decline in three weeks as resurgent inflation concerns, fueled by rising oil prices, pushed Treasury yields […]
Share Macro Summary Total ETF market volume registered $217.96 billion, a subdued session at just 89% of the 30-day average daily volume. The session was […]
Manage Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
