European ETF Week 38: Equities Lead, Crypto Outflows

European-listed exchange-traded funds and ETPs recorded mixed flows in the week of Sept. 14–18, with equities and fixed income drawing the largest net inflows while cryptocurrency products posted net withdrawals, according to Trackinsight data.

Equity ETFs attracted €3.55 billion over the five trading days. Fixed income products added €2.14 billion. Commodity ETPs recorded €546.6 million of inflows and multi-asset vehicles added €3.3 million. Cryptocurrency ETPs posted €89.6 million of net outflows.

Within fixed income, government investment-grade bond ETFs led inflows with €1.48 billion. Corporate investment-grade funds saw €517.3 million of net subscriptions and aggregate investment-grade ETFs added €120.8 million. Corporate high-yield products experienced €74.5 million of net outflows.

Gold-dedicated ETPs dominated commodity flows, taking in €944.1 million. Multi-commodity products added €134.6 million, while cotton and wheat saw smaller inflows. Crude oil ETPs recorded the largest commodity outflow at €573.5 million, and copper products lost €80.4 million.

At the sector level, materials and health care led inflows, with materials ETFs taking €179.0 million and health care €143.2 million. Energy funds added €51.8 million and information technology €34.0 million. Financial-sector ETFs recorded the largest sector withdrawal at €723.5 million, followed by industrials at €122.8 million and consumer staples at €59.8 million.

Health care was the best-performing sector, rising 2.79% for the week. Information technology advanced 1.99%. Financials declined 1.98%.

Geographic flows favored broad-market exposures. World equity ETFs received €1.46 billion and developed-market products added €1.25 billion. Country and regional inflows included the UK (€323.9 million), the eurozone (€230.5 million) and Switzerland (€210.5 million). Europe-focused ETFs logged the largest regional outflow at €405.3 million, followed by U.S.-focused products at €195.7 million and China at €130.0 million. Taiwan led regional performance with a 3.06% gain.

Thematic strategies showed notable inflows for Net Zero 2050 themes (€529.4 million) and cybersecurity strategies (€155.9 million). Global infrastructure themes added €76.4 million and biotech and genomics collected €47.2 million. Thematic cryptocurrency products saw €85.4 million of net outflows. Biotech and genomics led thematic performance with a 9.88% gain and cybersecurity rose 7.00%.

Within cryptocurrencies, bitcoin-related ETPs experienced €60.9 million of net withdrawals and ether-related products lost €35.0 million. Smaller tokens recorded modest flows: Near attracted €6.9 million, while XRP and Arbitrum each took about €1 million.

Asset managers with the largest weekly inflows were Vanguard (€1.42 billion), iShares (€1.39 billion) and Amundi (€1.38 billion). Other firms with notable net inflows included Invesco (€569.0 million), UBS (€382.1 million) and State Street Investment Management (€282.6 million).

At the fund level, the Vanguard FTSE All-World UCITS ETF (VWCE) topped net subscriptions with €429.8 million. An iShares short-duration corporate bond ESG ETF (SUSS) drew €377.5 million and Amundi’s physical gold ETC (GOLD) received €306.4 million. Other large inflows went to broad global equity and U.S.-focused ETFs with ESG or screened constructions.

Top weekly equity performers included the ARK Genomic Revolution UCITS ETF, up 14.65%, and several cybersecurity ETFs that rose more than 11%. A bitcoin-mining ETF advanced 8.73%, and a number of niche technology and semiconductor funds posted gains.

The flow and performance figures are drawn from Trackinsight’s weekly snapshot of European-listed ETFs and ETPs for Sept. 14–18, which aggregates net subscription and redemption activity alongside price returns across asset classes, sectors, regions and themes.