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Up until recently, many investors were unaware that there is an ETF that tracks the VIX Volatility Index. Its ticker is VXX. The VIX generally moves in the opposite direction of the market, so it is more of a hedge or a short bet on the market than anything. As shown below, VXX has gone from $110 down to the mid-$20s since the bull market started last March. As shown below, the ETF didn't trade much volume in 2009, but over the last few months, its daily volume has picked up immensely. In 2009, the ETF averaged 956,000 shares a day. So far this year, the average daily volume has been 6,500,000 shares.

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Source: VIX ETF Volume Picks Up