JP Morgan Asset Management has released a report highlighting the critical role of exchange-traded funds (ETFs) in financial markets, noting they provide more liquidity than is immediately apparent. The firm, identified as the largest active ETF issuer with $300 billion in assets under management (AUM), saw flows of over $48 billion across 44 products. The report found that AI-themed ETFs led inflows among all sectors in 2026, reaching an AUM of about $67 billion, despite a difficult quarter for price performance. Other major firms offering crypto ETFs include BlackRock, Fidelity, Goldman Sachs, and Janus. The report also noted that ETFs accounted for 28% of total U.S. exchange volume, rising to nearly 50% during high volatility.
JP Morgan Asset Management’s comprehensive report on ETFs established the firm as the largest active ETF issuer, with $300 billion in AUM and over $48 billion in flows across 44 active products. Other notable firms offering crypto ETFs include BlackRock, Fidelity, Goldman Sachs, and Janus.
AI-themed ETFs were a standout, leading inflows among all sectors in 2026 with an AUM of about $67 billion. The infrastructure sector followed with a cap below $60 billion, while five themes each had AUM over $30 billion.
This growth occurred despite a difficult quarter for the AI narrative’s price performance. The rising cap indicates Wall Street is heavily banking on these funds, according to the report.
JP Morgan’s chief ETF strategist, Jon Maier, stated, “Many [themes] are morphing towards AI and the ecosystem surrounding AI.” He said the trend will only continue.
The report highlighted that ETFs provide more liquidity to markets than is immediately apparent. ETFs’ long-term percentage of total U.S. exchange volume stood at 28%, but during high volatility, ETF volume accounted for nearly 50%.
This shows ETFs are a key player by multiplying layers of liquidity. For example, the secondary market sees about $5.5 million in daily trading volume, while the primary ETF market accounts for roughly $6.1 billion per day.
The AI narrative was second in mindshare among all crypto categories in Q2 2026, at 11.2%, as per CoinGecko. This was closely behind meme coins at 12.1%, hinting that AI could catalyze the next crypto bull run, according to Token Terminal data.
