Assets in the European ETF industry have surpassed the US$3 trillion mark for the first time, reaching a record $3.01 trillion at the end of September 2025, according to ETF research firm ETFGI’s latest European ETFs Industry Landscape Insights report.
The data showed a 32.6% increase year-to-date (YTD), up from $2.27 trillion at the end of 2024 and crossing the previous record of $2.87 trillion set in August.
During September, the industry attracted $49.93 billion in net inflows, pushing YTD inflows to an all-time high of $290.92 billion. This surpassed the previous full-year records of $176.24 billion in 2024 and $154.02 billion in 2021. September also marked the 36th consecutive month of net inflows for European ETFs.
iShares continues to lead the market, with $1.23 trillion in assets under management and a 40.8% share. Amundi ETF ranks second with $368.49 billion (12.2%), followed by Xtrackers with $317.27 billion (10.5%). These three providers together account for 63.5% of total European ETF assets.
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At the end of September, the European ETF industry comprised 3,413 products, with 14,341 listings from 133 providers across 29 exchanges in 24 countries.
Equity ETFs dominated September flows with $33.18 billion in net inflows ( YTD: $196.33 billion), well ahead of the amount recorded over the same period in 2024. Fixed income ETFs attracted $4.44 billion in September (YTD: $48.51 billion), while commodities ETFs added $5.34 billion, a reversal from $4.90 billion in net outflows during the same period last year.
Active ETFs gained $5.82 billion in September and $27.03 billion YTD, more than double the amount gathered by this point in 2024.
The top 20 ETFs by net new assets collectively received $22.52 billion in September, led by the SPDR Bloomberg 1-5 Year U.S. Corporate Bond UCITS ETF with $4.98 billion.
Among exchange-traded products, the top 10 gathered US$3.69 billion, led by the iShares Physical Gold ETC, which pulled in $1.44 billion, the largest individual inflow.
“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.
