- ETP average daily volume surged 32.48% m/m (+104.08% y/y) to an all-time high of 5.99 bn, as the VIX average daily close dropped 12.83% m/m (-15.58% y/y), to 17.27.
- Average daily value jumped 27.47% m/m (+88.27% y/y) to $349.5 bn.
- ETPs accounted for 30.87% of total equity ADV (+550 bps m/m), a record high, and 32.28% of ADVT (+285 bps m/m).
- Active ETPs (transparent and semi-transparent) accounted for 11.55% (+6 bps m/m) of total AUM, 22.52% (-370 bps m/m) of total ADV and 9.52% (+73 bps m/m) of total ADVT.
- The 20-most-active ETPs comprised 36.48% (+171 bp m/m) of total ETP volume and 11.26% (+244 bps m/m) of all equity volume.
- Off-exchange venues (+144 bps m/m) gained the most market share, as IEX (+14 bps m/m) set a new record of 4.65%. NYSE (-60 bps m/m) lost the most market share, while Cboe BZX (-24 bps m/m) fell to a record low of 4.56%.
- Net ETP inflows were $178.38 bn. US equity funds ($103.90 bn) again led the pack, with US corporate fixed income ($30.99 bn) a distant second. Only emerging market (-$4.54 bn) and currency funds (-$2.52 bn) experienced net outflows.
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