ETFGI reports that assets in the U.S. ETF industry reached a record high of US$13.08 trillion at the end of October
Press Release
LONDON — November 14 2025 — ETFGI, a leading independent research and consultancy firm known for its expertise in subscription research, consulting, events, and ETF TV on global ETF trends, announced today that assets in the U.S. ETF industry reached a record US$13.08 trillion at the end of October. During the month, U.S. ETFs gathered net inflows of US$186.19 billion, bringing year-to-date inflows to US$1.14 trillion, according to ETFGI’s October 2025 U.S. ETFs and ETPs industry landscape insights report, part of its annual subscription research service. (All figures in USD unless otherwise noted.)
Highlights
- Record Assets: U.S. ETF industry assets reached $13.08 trillion at the end of October, surpassing the previous record of $12.70 trillion in September 2025.
- Strong Growth: Assets have grown 26.4% year-to-date, rising from $10.35 trillion at the end of 2024.
- Historic Inflows: October saw $186.19 billion in net inflows, the highest monthly inflow on record, beating the previous record of $164.42 billion in November 2024.
- Year-to-Date Inflows: $1.14 trillion in YTD net inflows marks the highest on record, ahead of $861.35 billion in 2024 and $732.74 billion in 2021.
- Consistency: This is the 42nd consecutive month of net inflows.
The S&P 500 rose 2.34% in October, bringing its year-to-date gain to 17.52%. Developed markets excluding the U.S. advanced 1.69% in October and are up 29.83% so far in 2025, with Korea (+18.88%) and Luxembourg (+6.71%) leading the monthly gains. Emerging markets climbed 1.71% during October and have gained 24.50% year-to-date, driven by strong performances in Taiwan (+8.60%) and Hungary (+8.41%), 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 October
The ETFs industry in the United States had 4,664 products, assets of US$13.08 Tn, from 439 providers listed on 3 exchanges at the end of October.
iShares remains the largest ETF provider in the U.S. with $3.88 trillion in assets, representing a 29.7% market share. Vanguard ranks second with $3.75 trillion (28.7%), followed by State Street SPDR ETFs at $1.80 trillion (13.7%). Collectively, the top three providers—out of 439—account for 72.1% of total U.S. ETF assets, while the remaining 436 providers each hold less than 7% market share
In October, U.S. ETFs attracted record net inflows of $186.19 billion. Equity ETFs led with $85.50 billion, bringing year-to-date net inflows to $436.75 billion—surpassing last year’s $400.15 billion at this point. Fixed income ETFs added $32.56 billion in October, pushing YTD net inflows to $206.87 billion, ahead of $161.31 billion in 2024. Commodities ETFs saw $6.04 billion in net inflows, with YTD inflows reaching $45.02 billion versus $3.51 billion last year. Active ETFs gathered $62.19 billion in October, bringing YTD net inflows to $425.41 billion—well above the $239.85 billion recorded in 2024.
Substantial inflows can be attributed to the top 20 ETF‘s by net new assets, which collectively gathered $91.39 Bn in October. Vanguard S&P 500 ETF (VOO US) gathered $17.74 Bn, the largest individual net inflow.
Top 20 ETFs by net new assets October 2025: US
|
Name |
Ticker |
Assets |
NNA |
NNA |
|
Vanguard S&P 500 ETF |
VOO US |
799,867.35 |
103,477.09 |
17,739.60 |
|
Akre Focus ETF |
AKRE US |
10,412.53 |
10,815.93 |
10,815.93 |
|
SPDR S&P 500 ETF Trust |
SPY US |
703,081.27 |
(21,600.55) |
7,398.15 |
|
Invesco QQQ Trust |
QQQ US |
410,887.82 |
17,031.52 |
6,928.60 |
|
SPDR Portfolio S&P 500 ETF |
SPLG US |
95,792.85 |
29,793.47 |
6,781.43 |
|
JPMorgan BetaBuilders Europe ETF |
BBEU US |
8,206.82 |
3,647.08 |
4,082.13 |
|
Vanguard Total Stock Market ETF |
VTI US |
559,515.73 |
31,311.69 |
4,075.74 |
|
iShares US Treasury Bond ETF |
GOVT US |
33,012.00 |
2,583.38 |
4,045.85 |
|
iShares Bitcoin Trust |
IBIT US |
87,858.86 |
27,654.05 |
3,931.14 |
|
SPDR Gold Shares |
GLD US |
131,107.28 |
18,828.03 |
3,666.30 |
|
iShares Core U.S. Aggregate Bond ETF |
AGG US |
135,596.55 |
11,178.50 |
3,171.57 |
|
Vanguard Total Bond Market ETF |
BND US |
142,735.14 |
17,034.42 |
3,119.31 |
|
Vanguard Total International Stock Index Fund ETF |
VXUS US |
110,845.11 |
14,434.10 |
2,410.90 |
|
Invesco Nasdaq 100 ETF |
QQQM US |
68,784.66 |
17,685.25 |
2,284.79 |
|
JPMorgan Municipal ETF |
JMUB US |
6,082.08 |
3,967.39 |
2,162.50 |
|
Vanguard FTSE Developed Markets ETF |
VEA US |
183,580.30 |
12,473.18 |
1,916.89 |
|
Vanguard Total International Bond ETF |
BNDX US |
72,924.90 |
9,866.00 |
1,829.63 |
|
Vanguard Short-Term Treasury ETF |
VGSH US |
24,727.48 |
3,534.79 |
1,708.27 |
|
Vanguard Information Technology ETF |
VGT US |
118,968.32 |
9,252.68 |
1,683.09 |
|
iShares 7-10 Year Treasury Bond ETF |
IEF US |
40,288.89 |
7,391.83 |
1,635.71 |
The top 10 ETPs by net assets collectively gathered $335.66 Mn during October. Grayscale Ethereum Mini Trust ETF (ETH US) gathered $65.24 Mn, the largest individual net inflow.
Top 10 ETPs by net new assets October 2025: US
|
Name |
Ticker |
Assets |
NNA |
NNA |
|
Grayscale Ethereum Mini Trust ETF |
ETH US |
2,856.06 |
938.65 |
65.24 |
|
Grayscale Bitcoin Mini Trust ETF |
BTC US |
5,294.56 |
1,111.69 |
63.97 |
|
MicroSectors Gold Miners -3X Inverse Leveraged ETN |
GDXD US |
102.67 |
190.52 |
43.68 |
|
United States Copper Index Fund |
CPER US |
334.97 |
147.02 |
41.28 |
|
VanEck Merk Gold ETF |
OUNZ US |
2,282.31 |
390.02 |
34.97 |
|
ProShares UltraShort Gold |
GLL US |
91.44 |
28.36 |
27.89 |
|
MicroSectors Gold -3X Inverse Leveraged ETN |
DULL US |
29.00 |
31.75 |
16.83 |
|
Teucrium Soybean Fund |
SOYB US |
49.75 |
22.04 |
14.85 |
|
ProShares UltraShort Silver |
ZSL US |
42.16 |
42.18 |
14.07 |
|
MicroSectors US Big Banks Index 3X Leveraged ETN |
BNKU US |
26.99 |
19.94 |
12.89 |
Investors have tended to invest in Equity ETFs/ETPs during October.
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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