Global ETF Assets Reach Record High of US$18.81 Trillion at end of September according to new research from ETFGI

Press Release

LONDON — October 16, 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 globally reached a new record of US$18.81 trillion at the end of September. During September, the ETFs industry globally gathered net inflows of US$267.66 billion, bringing year-to-date net inflows to a record US$1.54 trillion, according to ETFGI's September 2025 Global 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 Global ETF Industry Report

  • Record High: Assets invested in the global ETFs industry reached a new all-time high of $18.81 trillion at the end of September, surpassing the previous record of $17.85 trillion set in August 2025.
  • Strong Growth: Assets have increased 26.7% year-to-date, rising from $14.85 trillion at the end of 2024.
  • Monthly Inflows: Net inflows of $267.66 billion were recorded in September.
  • Historic YTD Inflows: Year-to-date net inflows of $1.54 trillion mark the highest on record, exceeding the previous highs of $1.24 trillion in 2024 and $923.10 billion in 2021.
  • 12-Month Inflows: A total of $2.18 trillion in net inflows has been gathered over the past 12 months.
  • Consistent Momentum: September marked the 76th consecutive month of net inflows.

 

“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

https://etfgi.com/sites/default/files/styles/feature_image/public/source_3.png?itok=sw3zyEon Growth in assets in the Global ETFs industry as of the end of September

 

 

 

iShares remains the largest ETF provider globally, with $5.28 trillion in assets under management (AUM), representing 28.3% of the total market. Vanguard ranks second with $4.01 trillion and a 21.5% market share, followed by SPDR ETFs with $1.89 trillion, accounting for 10.1% of the market. Together, these top three providers—out of a total of 915—control 59.8% of global ETF industry AUM. The remaining 912 providers each hold less than 5% market share individually.

The Global ETFs industry had 15,125 products, with 29,677 listings, assets of $18.81 Tn, from 915 providers on 81 exchanges in 63 countries.

September Global ETF industry net flows overview

During September, ETFs globally gathered $267.66 billion in net inflows.

  • Equity ETFs attracted $124.32 billion in net inflows, bringing year-to-date (YTD) net inflows to $677.37 billion, slightly below the $695.89 billion recorded at the same point in 2024.
  • Fixed Income ETFs saw $49.36 billion in net inflows during the month, with YTD inflows reaching $314.23 billion, surpassing the $248.31 billion gathered by the end of September 2024.
  • Commodities ETFs reported $20.50 billion in net inflows in September, bringing YTD inflows to $73.14 billion, significantly higher than the $1.07 billion reported YTD in 2024.
  • Active ETFs attracted $70.59 billion in net inflows during the month, with YTD inflows totaling $447.72 billion, well above the $239.15 billion recorded YTD in 2024.

 

Substantial inflows can be attributed to the top 20 ETFs by net new assets, which collectively gathered $77.05 Bn during September. iShares Core S&P 500 ETF (IVV US) gathered $18.67 Bn, the largest individual net inflow.
 

Top 20 ETFs by net new assets September 2025: Global

 

Name

 

Ticker

Assets
($ Mn)
Sep-25

NNA
($ Mn)
 YTD-25

NNA
($ Mn)
Sep-25

iShares Core S&P 500 ETF

 

IVV US

    692,785.73

            35,299.82

        18,673.60

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

 

SPP5 GY

        5,000.76

             5,002.49

          4,982.49

Vanguard S&P 500 ETF

 

VOO US

    764,003.43

            85,737.48

          4,692.65

iShares S&P 100 ETF

 

OEF US

      27,544.49

             9,728.30

          4,584.08

SPDR Gold Shares

 

GLD US

    122,075.21

            15,161.73

          4,212.73

iShares U.S. Equity Factor Rotation Active ETF

 

DYNF US

      27,196.37

            10,577.33

          3,739.06

iShares AI Innovation and Tech Active ETF

 

BAI US

        6,099.32

             5,446.35

          3,384.76

Vanguard Total Stock Market ETF

 

VTI US

    543,586.67

            27,235.95

          3,291.37

Invesco QQQ Trust

 

QQQ US

    385,274.83

            10,102.93

          2,987.73

iShares Gold Trust

 

IAU US

      59,153.33

             9,378.24

          2,934.83

Vanguard Information Technology ETF

 

VGT US

    110,467.40

             7,569.59

          2,723.69

iShares Bitcoin Trust

 

IBIT US

      87,828.95

            23,722.91

          2,664.69

iShares 7-10 Year Treasury Bond ETF

 

IEF US

      38,520.49

             5,756.12

          2,655.95

iShares Core MSCI EAFE ETF

 

IEFA US

    155,523.73

             8,531.85

          2,454.57

Vanguard Total Bond Market ETF

 

BND US

    139,225.66

            13,915.10

          2,394.08

Vanguard FTSE Developed Markets ETF

 

VEA US

    178,890.86

            10,556.29

          2,387.27

iShares Core MSCI Emerging Markets ETF

 

IEMG US

    109,970.05

            10,826.04

          2,218.12

iShares Dynamic Equity Active ETF

 

BDYN US

        2,143.41

             2,134.90

          2,134.90

iShares U.S. Aerospace & Defense ETF

 

ITA US

      11,836.08

             2,797.07

          2,025.15

CIB CSI AAA Sci-Tech Innovation Corporate Bond ETF

 

551560 CH

        1,907.72

             1,906.47

          1,906.47

 

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

The top 10 ETPs by net new assets collectively gathered $4.15 Bn over 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: Global

Name

 

Ticker

Asset
($ 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

Japan Physical Gold ETF

 

1540 JP

        7,001.24

             1,709.73

             414.49

iPath Series B S&P 500 VIX Short-Term Futures ETN

 

VXX US

        1,011.98

                978.07

             272.99

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

 

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.


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

 

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, 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 ETF and mutual fund share classes, Active ETFs, conversions Crypto, digital assets and tokenisation and market structure.

 

Speakers will include:

  • Eric Biegeleisen, CFA, Partner, Deputy CIO, 3EDGE Asset Management
  • Thomas Bonville, Managing Director - Head of Derivative Sales, Clear Street 
  • Deborah Fuhr, Managing Partner, Founder, ETFGI
  • Anthony Giordano, Head of ETF Markets Oversight, State Street Investment Management 
  • Leah J. Miller, Vice President, Model Portfolio Strategy, BlackRock
  • Amrita Nandakumar, President, Vident Asset Management
  • Tara O’Reilly, Partner, Asset Management and Investment Funds, Arthur Cox LLP
  • David Pennella, Managing Director, GTS
  • Alex Poukchanski, Director, Index Analytics, CRSP
  • Trace Rakestraw, Senior Special Counsel, U.S. Securities and Exchange Commission
  • Cullen Rogers, CIO, Wedbush
  • Jeffrey Sardinha, Senior Vice President - Head of ETF Solutions – Americas, State Street
  • Paul Schroeder, CMT, QQQ Equity Product Strategist, Invesco
  • Peter Shea, Partner, Seward & Kissel LLP
  • Kim Tilley, Managing Director, Head of Investment Solutions, Lazard Asset Management
  • Richard Vagnoni, Senior Economist, FINRA

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

📍Location: The Yale Club, New York City

🆓 Free Registration: For CFA members, buy-side institutional investors, and financial advisors

​ 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:

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