Last year saw unprecedented growth in the exchange-traded fund industry, with assets approaching US$20 trillion, driven by record inflows, market diversification, and a boom in new product launches across regions.
Record net inflows and frothy markets drove the global exchange-traded fund industry to fresh heights last year, pushing assets under management to almost US$20 trillion.
According to ETFGI, investors poured a record US$2.37 trillion into ETFs during calendar 2025, lifting industry AUM to US$19.85 trillion as of December 31. That annual surge represented about US$5 trillion of growth and 33.7% year-on-year expansion, and marked the industry’s 79th consecutive month of net inflows, the researcher said.
“The S&P 500 rose 0.06% in December, finishing 2025 up 17.88%. Developed markets outside the United States gained 3.30% in December and increased 35.10% over the full year, with Korea (+10.98%) and Austria (+7.89%) posting the strongest monthly gains among developed countries. Emerging markets advanced 1.63% in December and were up 24.39% in 2025, led by Peru (+9.87%) and South Africa (+9.49%), which recorded the largest increases among emerging markets during the month,” Deborah Fuhr, founder of ETFGI, said in the firm’s release.
Market concentration remains significant. ETFGI’s data shows BlackRock’s iShares sits atop the sector with roughly US$5.56 trillion of ETFs (about a 28.0% share), followed by Vanguard with roughly US$4.25 trillion (21.4%) and State Street’s SPDR line with about US$1.99 trillion (10.0%). Those three providers together hold nearly 60% of global ETF assets, while hundreds of smaller issuers each command under 5% market share.
Product proliferation has accompanied the asset boom. ETFGI reported a record number of new ETF launches in 2025, with some tallies indicating more than 2,700 new products for the year and earlier counts showing an unprecedented pace of introductions in the first half. The total universe of listed ETFs and exchange-traded products reached about 15,800 by year-end, up sharply from just over 1,400 in 2007.
Regional markets mirrored the global momentum. Betashares reported that Australia’s ETF sector expanded by more than 34% in 2025, adding A$84.3 billion to reach A$330.6 billion at year-end, and recording A$53 billion of net new money for the year. According to the Betashares report, Vanguard, Betashares and iShares together captured more than 70% of annual net inflows in Australia, where 71 new ETFs listed during the year while 15 closed.
New product types and strategies are increasingly drawing capital. Industry reporting highlights the rapid rise of actively managed ETFs and smart‑beta structures, with active strategies significantly outpacing prior years’ flows and contributing to the diversification of offerings across regions.
Smaller markets also saw activity. Betashares manages more than A$50 billion across ETFs and other products and operates unlisted portfolio investment entity funds that feed into its exchange‑listed suites. In New Zealand, the NZX-owned Smart reported about NZ$6.8 billion under management across 40 ETFs at the end of December, down from roughly NZ$8 billion the prior year, and remains the only ETF issuer domiciled there.
The balance of rapid launch activity, heavy inflows and rising valuations underlines how the ETF wrapper has become central to global investment flows, even as a handful of large managers continue to dominate the landscape. Industry data and provider reports cited here show both continued investor appetite for low‑cost, transparent pooled vehicles and an intensifying race among asset managers to innovate within the format.
- https://investmentnews.co.nz/investment-news/wrapper-king-global-etf-market-nears-us20tn/?utm_source=rss&utm_medium=rss&utm_campaign=wrapper-king-global-etf-market-nears-us20tn – Please view link – unable to able to access data
- https://www.etf.com/sections/news/etf-industry-shatters-inflows-record-188t-global-haul – In 2024, the global ETF industry experienced unprecedented growth, with assets reaching $14.85 trillion, a 28% increase from 2023. Investors poured a record $1.88 trillion into ETFs, surpassing the previous record of $1.29 trillion set in 2021. This surge reflects a shift in how investors access markets globally, with the industry demonstrating consistent growth through 67 months of net inflows while expanding its reach across 81 exchanges in 63 countries. Active ETFs emerged as a top driver of growth, attracting nearly $41.8 billion in December alone, reaching $374.3 billion in total 2024 inflows, more than double the nearly $184.1 billion gathered in 2023.
- https://etfgi.com/news/press-releases/2025/12/etfgi-reports-assets-invested-etfs-industry-globally-reached-new-record – As of December 2025, global ETF assets reached a new record of $19.44 trillion, surpassing the previous record of $19.25 trillion set in October 2025. The industry gathered net inflows of $218.24 billion during November, bringing year-to-date net inflows to a record $2.04 trillion. This marks the 78th consecutive month of net inflows. The number of new ETF product launches also reached a record 2,759 in 2025, compared to the second-highest record of 1,795 in 2024. iShares leads the global ETF industry with $5.45 trillion in assets, representing 28.1% market share, followed by Vanguard with $4.19 trillion and 21.6%, and State Street SPDR ETFs with $1.96 trillion and 10.1%. Together, the top three providers account for 59.7% of global ETF industry AUM, while the remaining 946 providers each hold less than 5% market share.
- https://www.etf.com/sections/news/global-etf-industry-sees-record-new-launches-h1-2025 – In the first half of 2025, the global ETF industry saw a record 1,308 new ETFs hit the market, compared to just 878 during the same period last year. The US led in new ETF launches, followed by Asia Pacific (ex-Japan), Canada, and Latin America. The rapid proliferation of new ETFs is a response to evolving investor preferences for cost-effective, transparent, and flexible investment vehicles, coupled with ongoing innovation by asset managers to meet diverse investment needs and capitalize on market trends.
- https://etfgi.com/news/press-releases/2025/07/etfgi-reports-global-etfs-industry-had-record-1308-new-products – The first half of 2025 saw a record 1,308 new ETFs launched globally, with the US, Asia Pacific (ex-Japan), Canada, and Latin America showing peak launches. The number of product closures decreased in every region compared to the same period in 2024, except Asia Pacific (ex-Japan). This underscores the dynamic nature of the ETF industry and highlights the continued growth and diversification of the market.
- https://etfgi.com/news/press-releases/2026/01/etfgi-reports-assets-global-etf-industry-hit-record-us1985-trillion – As of December 2025, global ETF assets reached a new record of $19.85 trillion, surpassing the previous record of $19.44 trillion set in November 2025. The industry gathered net inflows of $330.78 billion during December, bringing year-to-date net inflows to a record $2.37 trillion. This marks the 79th consecutive month of net inflows. iShares leads the global ETF industry with $5.56 trillion in assets (28.0% market share), followed by Vanguard with $4.25 trillion (21.4%), and State Street’s SPDR ETFs with $1.99 trillion (10.0%). Together, these top three providers account for 59.5% of global ETF AUM, while each of the remaining 964 providers holds less than 5% market share.
- https://www.etf.com/sections/news/global-active-etf-assets-hit-record-high-13-trillion – As of February 2025, global actively managed ETFs reached a record $1.3 trillion in assets, with February inflows of $51.7 billion pushing year-to-date net inflows to $103.7 billion, the highest on record. This surge reflects a shift in how investors access active management, with these products now accounting for nearly 9% of the U.S. ETF market compared to just 2% in 2019, highlighting the growing investor appetite for active strategies in the ETF wrapper.
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
8
Notes:
The article reports that global ETF assets reached a record US$19.85 trillion by the end of 2025, with net inflows of US$2.37 trillion. This aligns with ETFGI’s press release dated 20 January 2026, confirming the freshness of the data. ([etfgi.com](https://etfgi.com/news/press-releases/2026/01/etfgi-reports-assets-global-etf-industry-hit-record-us1985-trillion?utm_source=openai))
Quotes check
Score:
7
Notes:
The article includes a quote from Deborah Fuhr, founder of ETFGI, regarding market performance. A search reveals that similar quotes from Fuhr are present in ETFGI’s press releases from December 2025 and January 2026. ([etfgi.com](https://etfgi.com/news/press-releases/2026/01/etfgi-reports-assets-global-etf-industry-hit-record-us1985-trillion?utm_source=openai)) While the exact wording matches, the context and timing of the quotes are consistent with the reported data, suggesting they are not recycled from earlier sources.
Source reliability
Score:
9
Notes:
The primary source, ETFGI, is a reputable independent research and consultancy firm specialising in ETF industry trends. Their press releases are authoritative and widely cited in the financial industry, enhancing the reliability of the information.
Plausibility check
Score:
8
Notes:
The reported figures of US$19.85 trillion in assets and US$2.37 trillion in net inflows are consistent with ETFGI’s press releases and align with industry trends. The article provides specific data points, such as the S&P 500’s performance and regional market gains, which are verifiable and plausible.
Overall assessment
Verdict (FAIL, OPEN, PASS): PASS
Confidence (LOW, MEDIUM, HIGH): HIGH
Summary:
The article presents accurate and up-to-date information on the global ETF market, corroborated by ETFGI’s press releases. The data is fresh, the quotes are consistent with the sources, and the content is factual and verifiable. The primary reliance on ETFGI’s press releases is noted, but their authority in the field supports the credibility of the information.