Groundhog Day for ETFs: Crypto and Precious Metals Dominate the Volume Spotlight… Again.

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Macro Summary

Total market volume settled at $222.1B, trading at 94% of its 30-day average. The day’s activity was most notable in the Digital Asset space, which saw volumes surge to 154% of its recent average. This spike was overwhelmingly driven by heavy turnover in Bitcoin-focused ETFs, particularly as spot Bitcoin products like GBTC and EZBC traded at more than double their usual daily volume, indicating a significant re-engagement with the primary cryptocurrency. Outside of crypto, trading was more subdued, though Non-Traditional and Commodity ETFs also saw above-average activity, largely fueled by leveraged single-stock products and precious metals, respectively.

Explore the Live Asset Class Dashboard

Asset Class Volume 30D Avg. % of 30D Avg.
Equity $144.0B $163.5B 88%
Fixed Income $22.4B $27.1B 83%
Commodities $10.0B $7.6B 131%
Crypto $9.2B $6.0B 154%
Currencies $84.4M $65.8M 128%
Alternatives $595.3M $850.8M 70%
Non-Traditional $35.6B $30.9B 115%
Multi-Asset $174.7M $127.5M 137%

Equity

The Equity asset class recorded $144.0B in volume, trading at a subdued 88% of its 30-day average. Elevated activity was concentrated in specific sectors, with Information Technology, Health Care, and Financials seeing above-average turnover. This was largely driven by heavy turnover in the semiconductor space, with SOXX seeing significant volume, as well as outsized activity in pharmaceutical ETF PPH and regional banking fund KRE.

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
Equity: Thematic – Precious Metals 132% $3.2B +2.77%
Equity: Thematic – Natural Resources 154% $1.1B +0.74%
Equity: Thematic – Industrial Revolution 175% $306.4M +1.56%
Equity: Global Ex-U.S. Small | Mid Cap 148% $286.5M +0.10%
Equity: Thematic – FinTech 207% $219.6M +3.62%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
PPH VanEck Pharmaceutical ETF 1292% $557.1M -0.35%
BKDV BNY Mellon Dynamic Value ETF 1000% $28.3M +0.66%
EMCS Xtrackers MSCI Emerging Markets Climate Selection ETF 883% $142.0M +0.50%
BITQ Bitwise Crypto Industry Innovators ETF 568% $26.2M +5.22%
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 536% $140.8M +0.09%
ROBO ROBO Global Robotics & Automation Index ETF 494% $18.6M +1.44%
ARKQ ARK Autonomous Technology & Robotics ETF 457% $84.8M +4.55%
WCLD WisdomTree Cloud Computing Fund 405% $44.9M +1.14%
ARKX ARK Space Exploration & Innovation ETF 335% $20.7M +3.64%
STCE Schwab Crypto Thematic ETF 328% $21.9M +7.03%

Fixed Income

Fixed Income markets saw light trading, with total volume of $22.4B representing just 83% of the 30-day average. The only area showing above-average interest was the Core category. This modest uptick was supported by notable activity in ETFs like AVIG and JBND, while High Yield also saw concentrated interest in specific funds like SYFI, which traded at over 800% its average volume.

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
SYFI AB Short Duration High Yield ETF 802% $30.4M -0.15%
CARY Angel Oak Income ETF 375% $15.6M -0.05%
VBIL Vanguard 0-3 Month Treasury Bill ETF 258% $238.2M +0.01%
AVIG Avantis Core Fixed Income ETF 253% $21.4M -0.24%
FTSL First Trust Senior Loan Fund 248% $27.9M -0.01%
BSCX Invesco BulletShares 2033 Corporate Bond ETF 229% $9.0M -0.23%
LONZ PIMCO Senior Loan Active Exchange-Traded Fund 226% $6.9M +0.06%
BBAG JPMorgan BetaBuilders U.S. Aggregate Bond ETF 222% $6.6M -0.26%
BILZ PIMCO Ultra Short Government Active Exchange-Traded Fund 216% $41.0M +0.01%
BSCP Invesco Bulletshares 2025 Corporate Bond ETF 217% $29.0M +0.02%

Commodities

The Commodities space was active, trading $10.0B in volume, or 131% of its 30-day average. The primary driver was the Precious Metals category, which saw robust turnover. This was highlighted by exceptional volume in the palladium ETF PALL, which traded at over 3.5 times its usual activity.

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
Commodity: Focused – Precious Metals 133% $9.3B +1.80%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
PALL abrdn Physical Palladium Shares ETF 359% $136.5M +4.58%
GLTR abrdn Physical Precious Metals Basket Shares ETF 201% $18.2M +1.77%
CPER United States Copper Index Fund 190% $17.8M -0.54%

Crypto

The Digital Asset class was the day’s standout, with volume hitting $9.2B, a significant 154% of its 30-day average. The surge was almost entirely concentrated in Bitcoin products, which traded at 170% of their average. High-activity outliers like EZBC, GBTC, and BTC all saw more than double their usual turnover, pointing to a decisive risk-on sentiment in the crypto space.

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
Digital Asset: Cryptocurrency – Bitcoin 170% $6.6B +2.05%
Digital Asset: Cryptocurrency – Ethereum 126% $2.6B +3.96%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
EZBC Franklin Bitcoin ETF 233% $21.6M +2.15%
GBTC Grayscale Bitcoin Trust ETF 216% $428.6M +2.13%
BTC Grayscale Bitcoin Mini Trust ETF 205% $122.8M +2.15%
FETH Fidelity Ethereum Fund ETF 164% $193.3M +4.25%

Currencies

The Currencies asset class saw elevated activity, with $84.4M in volume, representing 128% of its 30-day average. The heightened interest was driven by significant turnover in the Japanese Yen ETF FXY, which traded at nearly 2.5 times its typical volume.

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
FXY Invesco Currencyshares Japanese Yen Trust 247% $25.7M -1.91%

Alternatives

The Alternatives space saw muted trading with $595.3M in volume, or 70% of its 30-day average. Activity was quiet across the board, with no specific categories or tickers showing significant deviation from their recent trading patterns.

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.

Non-Traditional

Non-Traditional ETFs saw elevated volume, reaching $35.6B, which is 115% of the 30-day average. The activity was primarily driven by the Leverage | Inverse – Single Stock category, where tickers like AMDL saw exceptionally high turnover, trading at 4.5 times its average. The Buffer – Fixed Income category also experienced an anomalous surge, though from a much lower base.

High-Volume Categories (>$100M Traded)

Category Activity vs ADV $ Volume 1-Day Return
Non-Traditional: Leverage | Inverse – Single Stock 133% $12.6B +2.91%

High-Activity Ticker Outliers

Ticker Name Activity vs ADV $ Volume 1D Return
AMDL GraniteShares 2x Long AMD Daily ETF 450% $1.3B +46.55%
DDM ProShares Ultra Dow30 372% $53.4M -0.34%
SMCX Defiance Daily Target 2X Long SMCI ETF 217% $158.7M +10.14%
AMZU Direxion Daily AMZN Bull 2X Shares 208% $151.2M +1.41%
QDEC FT Vest Nasdaq-100 Buffer ETF – December 204% $6.5M +0.36%
IDVO Amplify CWP International Enhanced Dividend Income ETF 200% $8.3M +0.17%
JNUG Direxion Daily Junior Gold Miners Index Bull 2X Shares 187% $110.1M +5.75%
NUGT Direxion Daily Gold Miners Index Bull 2x Shares 179% $263.9M +4.10%
FEPI REX FANG & Innovation Equity Premium Income ETF 178% $9.2M +0.65%
ZALT Innovator U.S. Equity 10 Buffer ETF – Quarterly 177% $5.1M +0.06%

Multi-Asset

The Multi-Asset class saw strong relative trading volume at $174.7M, reaching 137% of its 30-day average. The heightened activity was concentrated in the Multi-Asset Income and Alternative Asset Sleeve categories, with INCM in particular trading at over 4 times its usual daily volume.

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
INCM Franklin Income Focus ETF Income Focus ETF 443% $25.7M +0.07%
YYY Amplify High Income ETF 154% $4.6M +0.04%

Disclaimer: This AI-assisted commentary is for informational purposes only. The “High-Volume Categories” table includes categories with over $100M in volume and activity at least 125% of their 30-day average, limited to the top 5 by volume. The “High-Activity Ticker Outliers” table shows the top 10 ETFs from each asset class, sorted by the highest trading activity versus their 30-day average. All reported ETFs have AUM over $250M and an ADV greater than $2.5M.

Disclosures: This material is for informational purposes only and should not be considered investment advice. All investments, including ETFs, involve risk, including the possible loss of principal. Investors should consider their investment objectives, risks, charges, and expenses carefully before investing.

This analysis was developed by the team at ETF Action. We leverage advanced AI tools to assist in the drafting and refinement of our content, based on our expert prompts, direction, and final review.

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