Tradeweb April ETFs: EUR82.8B Europe; AiEX Handles 95% Tickets

Tradeweb reported EUR82.8 billion of trading in European-listed ETFs on its institutional platform in April. Its Automated Intelligent Execution tool, AiEX, executed 95% of transactions by ticket count and 30% of total notional. Consolidated US-listed ETF notional reached $93.9 billion, with AiEX accounting for 61% of US ETF tickets, a record for the platform.

Institutional clients used ETFs to adjust exposures and manage risk in a calmer market than March. All ETF asset classes recorded net buying for the month.

Equity ETFs made up 72% of total platform flow in Europe, five percentage points above the previous 12-month rolling average. Across Tradeweb’s platforms, equities represented 61% of total notional value, fixed income 34%, and the remainder comprised commodity and specialty ETFs. On the European-listed platform, North America equities exceeded Global equities by EUR558 million.

Fixed income ETFs accounted for half of April’s top 10 by traded notional, spanning high yield, investment grade and rates exposure. The iShares Core EURO STOXX 50 UCITS (DE) ETF climbed seven places from March to become the platform’s top-traded fund by notional, last holding that spot in July 2025. On the US platform, the Vanguard 500 Index Fund ETF was the most actively traded fund for the sixth consecutive month.

Tradeweb reported global active client count grew more than 5% year-over-year in April, driven by new client adoption and deeper engagement from existing users. AiEX recorded a record share of US ETF tickets in April.

Adam Gould, Global Head of Equities at Tradeweb, commented: “Despite a relatively softer backdrop compared to March’s intense volatility, traded volumes remained strong in April, reflecting continued platform momentum. Institutional investors stayed active, using ETFs to adjust exposures and manage risk in a more measured environment, rather than stepping back from the market.” He added: “Global active client count grew by more than 5 percent year-over-year in April, driven by both new client adoption and deeper engagement from existing users. At the same time, record ticket numbers via AiEX highlight how automation is making participation more scalable and efficient across the buy-side.”