- ETP average daily volume fell 12.85% m/m (-7.26% y/y), to 2.29 bn, as the VIX average daily close climbed 12.34% m/m (5.68% y/y), to 19.96.
- Average daily value traded dropped 20.32% m/m (-18.15% y/y), to $135.6 bn.
- ETPs accounted for 19.66% of total equity ADV (-253 bps m/m) and 24.47% of ADVT (-400 bps m/m).
- The 20-most-active ETPs comprised 39.45% (-78 bps m/m) of total ETP volume and 7.76% (-117 bps m/m) of all equity volume.
- Cboe EDGX (+33 bps m/m) gained the most market share, while Nasdaq (-62 bps m/m) lost the most.
- Net ETP flows were positive for a 10th consecutive month at $92.87 bn, with all groups seeing net inflows. US equity funds ($47.20 bn) led the way, followed by US corporate fixed income (+$13.69 bn) and emerging market funds (+$10.08 bn).
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