ETFGI reports U.S. ETF Industry Surges to Record 11.81 Trillion US dollars in AUM Amid Unprecedented 678 Billion US dollar YTD Net Inflows

Press Release

LONDON — August 20, 2025 — ETFGI, a leading independent research and consultancy firm renowned for its expertise in subscription research, consulting services, events, and ETF TV on global ETF industry trends, reported today that assets invested in the ETFs industry in the United States reached a new record of US$11.81 trillion at the end of July.  During July, the ETFs industry in the United States gathered net inflows of US$124.16 billion, bringing YTD net inflows to a record US$678.14 billion, according to ETFGI's July 2025 US ETFs and ETPs industry landscape insights report, the monthly report which is part of an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)

U.S. ETF Industry Sets New Records in July 2025

• The U.S. ETF industry continues its remarkable growth trajectory, reaching a record $11.81 trillion in assets under management at the end of July—surpassing the previous high of $11.54 trillion set just a month earlier. This marks a 14.1% increase year-to-date, up from $10.35 trillion at the close of 2024.
• Investor appetite remains strong, with $124.16 billion in net inflows during July alone, contributing to a record-breaking $678.14 billion in YTD net inflows—the highest ever recorded. This surpasses the previous YTD records of $577.19 billion in 2024 and $523.91 billion in 2021.
• 39^th month of consecutive net inflows.
• Equity ETFs remained a key driver, gathering $58.17 billion in net inflows in July, reflecting continued investor confidence in equity markets and the utility of ETFs for tactical and strategic exposure.
• The ETFs industry in the United States has 4,428 products, assets of US$11.81 Tn, from 411 providers listed on 3 exchanges at the end of July.

 

The S&P 500 Index rose by 2.24% in July, bringing its year-to-date gain to 8.59%. In contrast, developed markets excluding the US declined by 0.71% during the month, though they remain up 19.44% for the year. Denmark and the Netherlands experienced the largest monthly drops among developed markets, falling by 13.90% and 5.78%, respectively. Emerging markets posted a 1.63% increase in July and are up 13.22% year-to-date, with Thailand and the United Arab Emirates leading the gains, rising by 14.13% and 8.41%, respectively, according to Deborah Fuhr, managing partner, founder, and owner of ETFGI.

 

 

Growth in assets in the ETFs industry in the United States as of the end of July

 

 

 

The U.S. ETF industry continued to attract strong investor interest in July, recording $124.16 billion in net inflows across all product categories.

Equity ETFs led the charge with $58.17 billion in net inflows for the month. However, year-to-date equity inflows totaled $249.65 billion, slightly below the $269.88 billion gathered by the same point in 2024, suggesting a modest shift in investor allocation preferences.

Fixed income ETFs saw $9.23 billion in net inflows during July, bringing YTD inflows to $120.13 billion—a notable increase over the $103.93 billion recorded by the end of July 2024. This reflects growing demand for yield and defensive positioning amid evolving macro conditions.

Commodity ETFs reversed last year’s trend, attracting $2.17 billion in net inflows in July and $22.79 billion YTD, compared to $2.26 billion in net outflows over the same period in 2024. This shift may signal renewed interest in inflation hedges and diversification.

Active ETFs continued their rapid ascent, gathering $45.84 billion in net inflows in July alone. YTD inflows reached $263.76 billion, far surpassing the $159.56 billion recorded in 2024, underscoring the growing appeal of active strategies in a dynamic market environment.

Substantial inflows can be attributed to the top 20 ETF‘s by net new assets, which collectively gathered $71.75 Bn in July. Vanguard S&P 500 ETF (VOO US) gathered $12.53 Bn, the largest individual net inflow.

Top 20 ETFs by net new assets July 2025: US

Name	Ticker	Assets ($ Mn)  Jul-25	NNA ($ Mn)  YTD-25	NNA ($ Mn) Jul-25
Vanguard S&P 500 ETF	VOO US	710,555.82	71,872.40	12,529.35
SPDR S&P 500 ETF Trust	SPY US	657,731.85	(16,340.14)	10,397.10
iShares Bitcoin Trust	IBIT US	86,791.72	20,351.13	5,178.38
iShares Core S&P 500 ETF	IVV US	634,983.89	11,863.07	4,708.87
SPDR Portfolio S&P 500 ETF	SPLG US	79,185.98	19,814.33	4,646.35
iShares Ethereum Trust	ETHA US	11,370.74	6,217.62	4,219.38
Vanguard Total Stock Market ETF	VTI US	509,941.15	21,931.48	3,851.11
Financial Select Sector SPDR Fund	XLF US	52,852.77	1,131.59	2,797.10
Simplify Government Money Market ETF	SBIL US	2,643.93	2,640.73	2,640.73
iShares 0-3 Month Treasury Bond ETF	SGOV US	51,762.50	21,833.63	2,540.72
Vanguard Total International Stock Index Fund ETF	VXUS US	97,410.57	9,930.06	2,427.72
iShares Core MSCI Emerging Markets ETF	IEMG US	98,881.57	8,421.86	2,037.81
YieldMax Ultra Option Income Strategy ETF	ULTY US	2,589.40	2,439.50	1,971.87
Vanguard Total Bond Market ETF	BND US	132,607.33	9,401.88	1,956.02
Invesco Nasdaq 100 ETF	QQQM US	56,083.05	11,716.91	1,904.62
Vanguard FTSE Developed Markets ETF	VEA US	162,801.13	6,172.43	1,822.27
iShares U.S. Equity Factor Rotation Active ETF	DYNF US	21,476.42	6,146.53	1,766.63
iShares Core MSCI EAFE ETF	IEFA US	140,934.75	4,328.11	1,483.32
iShares Broad USD High Yield Corporate Bond ETF	USHY US	25,274.81	5,745.44	1,471.29
Janus Henderson AAA CLO ETF	JAAA US	23,211.54	6,592.59	1,397.98

 

 

 

 

The top 10 ETPs by net assets collectively gathered $2.58 Bn during July. Fidelity Ethereum Fund (FETH US) gathered $599.15 Mn, the largest individual net inflow.

Top 10 ETPs by net new assets July 2025: US

Name	Ticker	Assets ($ Mn) Jul-25	NNA ($ Mn) YTD-25	NNA ($ Mn) Jul-25
Fidelity Ethereum Fund	FETH US	2,551.70	683.77	599.15
Grayscale Ethereum Mini Trust ETF	ETH US	2,489.82	596.25	458.97
ProShares Ultra VIX Short-Term Futures	UVXY US	800.39	502.95	381.18
iPath Series B S&P 500 VIX Short-Term Futures ETN	VXX US	572.02	355.81	295.02
ProShares Ultra DJ-UBS Natural Gas	BOIL US	483.72	81.07	274.54
Grayscale Bitcoin Mini Trust ETF	BTC US	5,382.53	855.53	237.75
ProShares VIX Short-Term Futures ETF	VIXY US	294.49	117.24	155.74
Bitwise Ethereum ETF	ETHW US	519.02	55.15	102.75
VanEck Merk Gold ETF	OUNZ US	1,763.21	257.19	42.82
United States Copper Index Fund	CPER US	219.64	69.80	31.14

 Investors have tended to invest in Equity ETFs/ETPs during July.

 

Contact deborah.fuhr@etfgi.com if you have any questions or comments on the press release or ETFGI events, research or consulting services.

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Register now to attend our 6th Annual ETFGI Global ETFs Insights Summit - United States on November 5 in New York City at The Yale Club in New York. 

 

The summit is designed as an educational event to foster deep, insightful discussions on the use, due diligence and selection and best trading practices for ETFs by financial advisors and institutional investors in the United States. Explore how regulatory changes are impacting product development including share classes, Active ETFs, conversions Crypto, digital assets and tokenisation and market structure.

 

Topics will include:

• Trends in the ETFs Industry - ETFGI Research

• Global Macro Outlook

• Innovation, Growth and Changing Demographics: The ETF Story in US

• The Rise of Active ETFs in the US

• The Rise of Alternative Strategies in the ETF Wrapper

• Update on ETF and Mutual Fund Share Classes, Conversions

• Opportunities for Virtual Assets and Tokenization in US

• Outlook for ETFs and the Asset Management Industry – What's Next?

• Networking drinks hosted by Waystone

 

Don’t miss this opportunity to explore key trends and network with industry leaders driving the future of ETFs. Register now to join us!

 

📅 Event Date: November 5th
⏰Time: Full day event including a networking drinks reception hosted by Waystone
📍Location: The Yale Club, New York City
🆓 Free Registration: For CFA members, buy-side institutional investors, and financial advisors
🐤 Early Bird Discount: Ends September 28th, 2025
​  CPD Credits: Earn educational credits
📋View the agenda, speakers, and topics from last year's successful 5th annual ETFGI Global ETFs Insights Summit - U.S. : https://bit.ly/49sAa03

 

Upcoming 2025 ETFGI Global ETFs Insights Summits schedule:

• 6th Annual - Asia Pacific in Hong Kong on September 3rd and virtually on September 4th. Register now.
• 6th Annual - Middle East/ GCC at ADGM in Abu Dhabi on October 7. Register now.
• 7th Annual - Canada - Join us to Celebrate 35 Years of ETFs in Toronto, Canada on Dec 9th at Borden Ladner Gervais LLP (BLG)’s office! Register now.

 

ETFGI (www.ETFGI.com) is a leading independent firm which has for over 13 years provided subscription research services providing monthly reports covering trends in the global ETFs ecosystem, factsheets on all ETFs and ETPs listed globally, consulting services, ETF TV (www.ETFtv.net) and our Annual ETFGI Global ETFs Insights Summit educational events.

If you are interested in sponsoring or speaking at any of our upcoming events or have any questions, please contact us deborah.fuhr@etfgi.com and margareta.hricova@etfgi.com.

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Contact:  Deborah Fuhr  Managing Partner, Founder  ETFGI  Mobile: +44 777 5823 111  Email: deborah.fuhr@etfgi.com  Web: www.etfgi.com  Connect on: Deborah Fuhr Twitter | LinkedIn  ETFGI Twitter | LinkedIn | Website ETFs Network LinkedIn  ETF TV Twitter | LinkedIn | Website Women in ETFs, Board member and founder   Women in ETFs Twitter | LinkedIn | Website   Disclaimer: This press release is published by, and remains the copyright of, ETFGI LLP ("ETFGI") or its licensors. The information and data in this press release is for information purposes only. ETFGI makes no warranties or representations regarding the accuracy or completeness of the information contained on this press release. ETFGI does not offer investment advice or make recommendations regarding investments and nothing in the press release shall be deemed to constitute financial or investment advice in any way and shall not constitute a regulated activity for the purposes of the Financial Services and Markets Act 2000. Further, nothing in this press release shall constitute or be deemed to constitute an invitation or inducement to any person to engage in investment activity. Should you undertake any such activity based on information contained in this press release, you do so entirely at your own risk and ETFGI shall have no liability whatsoever for any loss, damage, costs or expenses incurred or suffered by you as a result. ETFGI LLP is a limited liability partnership registered in England and Wales with registered number OC372221. Our registered office is at 130 Jermyn Street, 2nd Floor, St James’s, London, SW1Y 4UR.