ETFGI research reports Europe’s ETF Industry Surpassed $3 Trillion milestone for the First Time at end of September

Press Release

LONDON — October 10, 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 in the ETFs industry in Europe surpassed the US$3 Trillion milestone for the First Time at end of September. During September the ETFs industry in Europe gathered net inflows of US$49.93 billion, bringing year-to-date net inflows to US$290.92 billion, according to ETFGI's September 2025 European ETFs 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.)


 Highlights from ETFGI’s September 2025 European ETF Industry Report

  • European ETF assets surpassed the $3 trillion milestone, reaching a record $3.01 trillion at the end of September 2025—up from the previous record of $2.87 trillion in August.
  • Year-to-date (YTD) assets have grown by 32.6%, rising from $2.27 trillion at the end of 2024 to $3.01 trillion.
  • Net inflows in September totaled $49.93 billion.
  • YTD net inflows of $290.92 billion mark the highest on record, surpassing the previous highs of $176.24 billion in 2024 and $154.02 billion in 2021.
  • September marks the 36th consecutive month of net inflows into European ETFs.

“The S&P 500 rose 3.65% in September, bringing its year-to-date gain to 14.83.  Developed markets excluding the US increased by 2.50% during the month and are up 27.67% in 2025. The Netherlands and Korea led the gains among developed markets in September, rising 13.27% and 9.04%, respectively. Emerging markets advanced 5.49% in September and have gained 22.41% year-to-date, with Peru (up 12.80%) and South Africa (up 9.47%) posting the strongest monthly performance among emerging markets,” said Deborah Fuhr, managing partner, founder, and owner of ETFGI.

 

Growth in assets in the ETFs industry in Europe as of the end of September

 

 

 

 

iShares remains the leading provider in Europe, with assets under management (AUM) totalling $1.23 Tr, representing a 40.8% market share. Amundi ETF ranks second with $368.49 billion (12.2% market share), followed by Xtrackers with $317.27 billion (10.5% market share). Collectively, the top three providers out of 133 account for 63.5% of total assets in the ETFs industry in Europe, while each of the remaining 130 providers holds less than 8% market share individually.

The ETFs industry in Europe had 3,413 products, with 14,341 listings, from 133 providers listed on 29 exchanges in 24 countries at the end of September.

During September, ETFs in Europe recorded net inflows of $49.93 billion.

  • Equity ETFs led the way with $33.18 billion in net inflows for the month, bringing year-to-date (YTD) inflows to $196.33 billion—well ahead of the $122.27 billion gathered over the same period in 2024.
  • Fixed income ETFs attracted $4.44 billion in September, pushing YTD inflows to $48.51 billion, slightly above the $48.20 billion recorded by the end of September 2024.
  • Commodities ETFs saw $5.34 billion in net inflows during the month, lifting YTD inflows to $15.81 billion, a significant turnaround from the $4.90 billion in net outflows reported over the same period in 2024.
  • Active ETFs gathered $5.82 billion in September, with YTD inflows reaching $27.03 billion, more than double the $10.71 billion collected by this point in 2024.

Substantial inflows can be attributed to the top 20 ETFs by net new assets, which collectively gathered $22.52 Bn in September. SPDR Bloomberg 1-5 Year U.S. Corporate Bond UCITS ETF (Acc) (SPP5 GY) gathered $4.98 Bn, the largest individual net inflow.

Top 20 ETFs by net new assets September 2025: Europe

Name

Ticker

Assets
($ Mn)
 Sep-25

NNA
($ Mn)
 YTD-25

NNA
($ Mn)
Sep-25

SPDR Bloomberg 1-5 Year U.S. Corporate Bond UCITS ETF (Acc)

SPP5 GY

        5,000.76

             5,002.49

          4,982.49

Xtrackers MSCI World Financials UCITS ETF

XDWF GY

        2,850.33

             1,859.24

          1,716.73

AMUNDI MSCI WORLD UCITS ETF - USD

MWOF GY

      14,583.52

             9,367.29

          1,700.19

iShares MSCI USA ESG Enhanced UCITS ETF

EEDS LN

      24,101.00

             1,974.25

          1,393.30

Invesco S&P 500 UCITS ETF - Acc

SPXS LN

      48,037.28

             3,138.97

          1,353.37

BetaPlus Enhanced Global Sustainable Equity UCITS ETF

BPGU GY

        2,072.58

             2,024.52

          1,232.10

Amundi S&P 500 II UCITS ETF USD

LSPU LN

      26,143.88

             2,998.14

          1,059.74

Nordea BetaPlus Enhanced Global Developed Sustainable Equity UCITS ETF

BPDU SW

        1,034.60

             1,014.21

          1,014.21

iShares MSCI USA ESG Screened UCITS ETF

SASU LN

      16,307.70

             4,419.93

             995.10

iShares Core S&P 500 UCITS ETF

CSSPX SW

    134,489.11

             7,337.95

             965.21

Vanguard FTSE All-World UCITS ETF

VWRD LN

      48,532.67

             9,080.60

             843.27

Xtrackers S&P 500 Swap II UCITS ETF - 1C

X500 GY

           790.79

                785.38

             780.76

iShares MSCI Europe Financials Sector UCITS ETF

ESIF GY

        2,031.24

                902.93

             700.56

iShares Core MSCI EM IMI UCITS ETF

EMIM LN

      30,805.68

             1,171.06

             586.41

iShares $ High Yield Corp Bond UCITS ETF

IHYU LN

        6,195.30

                294.25

             583.46

UBS Core MSCI World UCITS ETF

UBU7 GY

        6,444.49

             3,483.05

             578.23

SPDR MSCI World UCITS ETF - Acc

SPPW GY

      15,840.88

             3,184.09

             527.16

iShares MSCI China Tech UCITS ETF

CTEC NA

        1,944.04

             1,511.69

             505.82

SPDR MSCI ACWI UCITS ETF

SPYY GY

        8,272.10

             2,862.01

             504.91

BNP Paribas Easy EURO STOXX 50 UCITS ETF EUR C

ETDD FP

        1,382.20

                658.21

             498.43

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The top 10 ETPs by net new assets collectively gathered $3.69 Bn during September. iShares Physical Gold ETC (SGLN LN) gathered $1.44 Bn, the largest individual net inflow.

 

Top 10 ETPs by net new assets September 2025: Europe

Name

Ticker

Assets
($ Mn)
 Sep-25

NNA
($ Mn)
 YTD-25

NNA
($ Mn)
Sep-25

iShares Physical Gold ETC

SGLN LN

      29,622.10

             4,469.30

          1,436.69

Invesco Physical Gold ETC - Acc

SGLD LN

      26,951.05

             2,009.45

             527.09

WisdomTree Physical Solana

SOLW SW

           572.60

                497.59

             479.80

iShares Physical Silver ETC

SSLN LN

        2,712.99

                915.87

             224.41

WisdomTree Physical Gold - EUR Daily Hedged

GBSE GY

        1,317.28

                567.10

             223.52

Xetra Gold EUR

4GLD GY

      21,804.87

                971.18

             218.61

WisdomTree Physical XRP

XRPW NA

           537.08

                234.30

             196.76

CoinShares FTX Physical Staked Solana

SLNC GY

           554.22

                191.03

             160.21

WisdomTree Copper

COPA LN

        1,223.03

               (185.15)

             110.41

21Shares XRP ETP

AXRP SW

           908.22

                314.88

             109.77

 

 

 

 

 

 

 

 

 

 

 

 

 

 

https://etfgi.com/sites/default/files/styles/feature_image/public/source_3.png?itok=sw3zyEon

 

 

 

Investors have tended to invest in Equity ETFs during September.

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