Total market volume finished the day at $290.8B, trading at 105% of its 30-day average. While overall market activity was only slightly elevated, this modest figure masks an extraordinary surge in niche areas. The most significant activity was seen in the Equity: Emerging Small | Mid Cap category, which traded a stunning 1306% of its 30-day average volume as the category fell 1.54%. This was followed by heavy turnover in Equity: Region – Asia-Pacific Emerging (594% vs. avg, -1.85%) and Non-Traditional: Buffer – Crypto (357% vs. avg, -2.41%). The Digital Asset class as a whole was also a major focus, trading at 159% of its average as it declined 6.48% on the day.
Asset Class Summary
Asset Class
Volume
30D Avg.
% of 30D Avg.
Equity
$188.9B
$182.8B
103%
Fixed Income
$37.1B
$30.0B
124%
Commodities
$7.5B
$13.7B
55%
Crypto
$13.3B
$8.4B
159%
Currencies
$76.2M
$74.8M
102%
Alternatives
$1.6B
$1.4B
115%
Non-Traditional
$42.2B
$39.5B
107%
Multi-Asset
$211.1M
$175.0M
121%
Equity
Equity markets traded $188.9B, posting activity 103% of the 30-day average. The most significant activity was seen in the Equity: Emerging Small | Mid Cap category, which traded 1306% of its average volume (closing -1.54%). Other high-volume categories included Equity: Region – Asia-Pacific Ex-Japan (216% vs avg, -1.66%) and Equity: Sector – Materials (164% vs avg, -1.22%). At the ticker level, this was driven by exceptional turnover in EUFN (1035% vs avg, -0.72%) from the Financials sector, and EEMA (772% vs avg, -1.95%) in the regional emerging markets space.
WisdomTree Emerging Markets SmallCap Dividend Fund
382%
$24.5M
-1.49%
Fixed Income
Fixed Income saw elevated activity, trading $37.1B, or 124% of its 30-day average. This was dominated by heavy trading in core and corporate bond categories. Fixed Income: Taxable – Core led the way, trading 245% of its average (closing +0.08%), followed by Fixed Income: Taxable – Corporate (164% vs avg, +0.09%). Specific tickers driving this activity include VCRB (1099% vs avg, +0.04%) and CGCB (798% vs avg, +0.21%), both from the high-volume Taxable – Core category.
Commodities saw a very quiet day, trading $7.5B, which was only 55% of its 30-day average. No categories met the high-volume criteria. The only notable activity was in the broad market space, with HGER trading 368% of its average volume (closing -1.05%).
The Digital Asset class was a major focus, trading $13.3B, or 159% of its 30-day average, as the asset class saw significant declines. Activity was concentrated in the two major categories: Digital Asset: Cryptocurrency – Ethereum (162% vs avg, -9.61%) and Digital Asset: Cryptocurrency – Bitcoin (158% vs avg, -4.90%). This was reflected in the high-activity tickers, with ARKB (196% vs avg, -5.64%) and FBTC (195% vs avg, -5.68%) leading the Bitcoin-related funds.
Currencies traded $76.2M, a normal session at 102% of its 30-day average. No categories met the high-volume criteria, and there were no high-activity ticker outliers for this asset class.
High-Volume Categories (>$100M Traded)
Category
Activity vs ADV
$ Volume
1-Day Return
No categories met the high-volume criteria.
High-Activity Ticker Outliers
Ticker
Name
Activity vs ADV
$ Volume
1D Return
No high-activity ticker outliers for this asset class.
Alternatives
Alternatives traded $1.6B, seeing moderately elevated activity at 115% of its 30-day average. No categories met the high-volume criteria. The only significant outlier was FLSP from the Multi-Strategy category, which traded 657% of its average (closing -0.73%).
Non-Traditional products saw $42.2B in volume, trading at 107% of the 30-day average. Activity was focused on cryptocurrency-linked products. The Non-Traditional: Leverage | Inverse – Crypto category traded 150% of its average (and fell 5.20%), while the Non-Traditional: Synthetic Income – Crypto category traded 135% vs. its average (and fell 6.94%). Outlier activity was spread across various categories, with PNOV (255% vs avg, -0.57%) and single-stock leveraged funds like PLTU (247% vs avg, -16.39%) seeing high turnover.
Multi-Asset funds traded $211.1M, posting volume 121% of the 30-day average. No categories met the high-volume criteria. The only notable outlier was INCM, which traded 258% of its average volume and finished the day -0.38%.
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