ETF turnover in European stock ETFs rose by 29.3% last week on average daily turnover  of $1.24 billion, according to the latest figures from Deutsche Bank.

Turnover in an Asian equity ETF also reached a record last week. On the Shanghai Stock Exchange, turnover in the SSE 50 ETF reached a new high of 57.55% through the first four days of last week. There were 577 million orders for the SSE 50 ETF last week, including 400 million redemption orders and net 177 million orders for new subscriptions, the ninth  consecutive week during which the ETF saw net new subscriptions.

In the much smaller European fixed income ETF market, turnover rose by 37.5% to $168 million. Money market ETFs saw the brunt of the activity last week, and helped to raise total European ETF turnover to an average of $1.54 billion last week.

In terms market share across Europe of ETF trading, the Deutsche Borse continues to lead with 32.8% ETF market share, with the London Stock Exchange and Italian Exchange together representing 20.8% of the ETF market, according to Deutsche Bank research.

The turnover spike hasn't slowed the introduction of new ETFs in Europe, though. Last week and continuing into this week, two dozen new ETFs hit the market, including 13 from ETF Securities (see story). Lyxor, SPA and Credit Agricole Structured Asset Management also brought out new ETFs (see story).

Deutsche Bank noted in its research that more launches mirroring the investment style box approach, the basis for many advisors and investors in the U.S., are becoming bigger winners in Europe. In particular, short and leveraged style bets have grown to the third-largest traded segment of the European ETF market, capturing 22% of average daily turnover.