ETFGI Reports Assets In The Global ETF Industry Hit Record US$19.85 Trillion As Industry Posts Highest Ever Annual Net Inflows

New research from ETFGI reports today that assets invested in the ETFs industry globally reached a new record of US$19.85 trillion at the end of December. During December, the ETFs industry globally gathered net inflows of US$330.78 billion, bringing year-to-date net inflows to a record US$2.37 trillion, according to ETFGI's December 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)  ETFGI is 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.

Highlights

• Global ETF assets reached a new record of $19.85 trillion at the end of 2025, surpassing the previous record of $19.44 trillion set in November 2025.
• ETF assets grew 33.7% year‑to‑date, rising from $14.85 trillion at the end of 2024 to $19.85 trillion at year‑end 2025.
• December saw $330.78 billion in net inflows.
• YTD net inflows totaled $2.37 trillion, the highest ever recorded, exceeding
  • $1.88 trillion in 2024 (second‑highest), and
  • $1.29 trillion in 2021 (third‑highest)
• December marked the 79th consecutive month of net inflows into ETFs.
• iShares leads the global ETF industry with $5.56T in assets (28.0% market share), followed by Vanguard with $4.25T (21.4%) and State Street’s SPDR ETFs with $1.99T (10.0%); collectively, these top three providers account for 59.5% of global ETF AUM, while each of the remaining 964 providers holds less than 5% market share.

“The S&P 500 rose 0.06% in December, finishing 2025 up 17.88%. Developed markets outside the United States gained 3.30% in December and increased 35.10% over the full year, with Korea (+10.98%) and Austria (+7.89%) posting the strongest monthly gains among developed countries.  Emerging markets advanced 1.63% in December and were up 24.39% in 2025, led by Peru (+9.87%) and South Africa (+9.49%), which recorded the largest increases among emerging markets during the month.” According to Deborah Fuhr, managing partner, founder, and owner of ETFGI.

Growth in assets in the Global ETFs industry as of the end of December

The Global ETFs industry had 15,807 products, with 30,634 listings, assets of $19.85 Tn, from 967 providers on 83 exchanges in 65 countries at the end of December.

During December, ETFs attracted $330.78 billion in net inflows, capping a strong finish to the year. Equity ETFs led the way with $211.15 billion in net new assets, bringing year‑to‑date inflows to $1.14 trillion, slightly ahead of the $1.11 trillion gathered over the same period in 2024. Fixed income ETFs saw robust demand as well, pulling in $50.95 billion during the month and finishing the year with $458.63 billion in net inflows—significantly higher than the $315.24 billion recorded by year‑end 2024. Commodity ETFs reported $16.32 billion in December inflows, pushing year‑to‑date totals to $106.65 billion, a dramatic increase compared to just $3.91 billion over the same period the prior year. Active ETFs also continued to gain momentum, drawing $56.23 billion in December and closing out the year with $637.47 billion in net inflows, well above the $373.54 billion gathered during the same timeframe in 2024.

Substantial inflows can be attributed to the top 20 ETFs by net new assets, which collectively gathered $117.57 Bn during December. iShares Core S&P 500 ETF (IVV US) gathered $29.29 Bn, the largest individual net inflow.

Top 20 ETFs by net new assets December: Global

The top 10 ETPs by net new assets collectively gathered $3.18 Bn over December. iShares Physical Gold ETC (SGLN LN) gathered $512.20 Mn, the largest individual net inflow.

Top 10 ETPs by net new assets December: Global

Investors have tended to invest in Equity ETFs during December.