The global ETF market continues to hit record highs, according to ETFGI’s latest report, with 2025 seeing almost US$2.4 trillion ($3.47 trillion) in net inflows.
ETFGI’s December ETF market report revealed that the global ETF market ended the year with US$19.8 trillion in total assets invested, marking an all-time high for the ever-growing industry.
Up from US$14.8f trillion at the end of 2024, this marks a 33.7 per cent year-to-date (YTD) increase in total assets.
This was supported by inflows of US$330.7 billion for the final month of 2025, which brought the YTD net inflows to US$2.3 trillion, far surpassing the previous all-time-high of $1.8 trillion seen in 2024.
Meanwhile, iShares continues to dominate the industry, capturing 28 per cent of the market share with its total assets valued at US$5.5 trillion, followed by Vanguard in second with $4.2 trillion in assets and 21.4 per cent of the market. State Street’s SPDR ETFs were a far third with US$2 trillion and a 10 per cent market share.
This is in contrast to Australia where Vanguard was the top provider with AU$74.6 billion in AUM.
Together, the three major providers represent 59.5 per cent of global ETF assets under management (AUM), with the remaining 964 providers each holding less than 5 per cent of market share.
Looking closer at the where flows went, equity ETFs proved a favourite with US$211.1 billion in net new assets for December, with YTD inflows of US$1.1 trillion.
Fixed income ETFs saw a considerable uptick in flows, with the report showing US$51 billion was poured into these ETFs for a YTD total of $458.6 billion, up from US$315.2 the previous year.
Commodity ETFs also saw a major increase for the year, increase from $3.9 billion in 2024 to $106.6 billion at the end of 2025, with the December flows hitting $16.3 billion.
All three major providers were represented in the top-p funds for the year, with V
The active ETF sector saw inflows of US$56.2 billion in December for annual result of $637.4 billion net flow, a significant jump from the $373.5 billion in 2024. This brought active ETF AUM to US$1.92 trillion, up from US$1.86 trillion in the previous year.
