ETF Industry Surpasses $1 Trillion in Inflows: A Historic Milestone
Investors are plowing money into a broad swath of assets, putting the ETF industry in the driver’s seat of what may be another record year.
The theme song for the exchange-traded fund (ETF) industry could very well be Frank Sinatra’s “It Was a Very Good Year.” The industry has reached an impressive $1.25 trillion in assets through November, achieving this milestone faster than ever before.
According to Matt Bartolini, global head of research strategists at State Street Investment Management, “Largely speaking, if you look across different asset classes—stocks, bonds, commodities, and gold—it’s been a very good year to own assets. Assets across the board have outperformed cash, creating a positive return environment.” Bartolini shared these insights with FOX Business in October when the industry celebrated a previous milestone.
State Street manages over $5 trillion in assets, serving clients in more than 60 countries.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| STT | STATE STREET CORP. | 132.22 | +1.52 | +1.16% |
Last year, ETF inflows hit $1 trillion on December 11, 2024. Bartolini had accurately predicted that the industry would surpass the $1 trillion mark by October 15, achieving this milestone a day early. Full-year totals are now expected to reach $1.4 trillion, up from an earlier estimate of $1.3 trillion, largely driven by bonds.
“Fixed income ETFs continue to gain popularity each year, breaking records in the first nine months alone. Their use cases have expanded beyond simple beta building blocks to include more active strategies with identifiable track records,” Bartolini noted.
HAND ON FUND MANAGERS DRIVE ETF GROWTH
Bond ETFs attracted $42 billion in inflows last month and are on track to net a record $400 billion this year. Gold ETFs are also experiencing significant inflows, with $1 billion alone in November, as the price of gold continues to rise, trading above $4,482.80 an ounce as of December 23. Inflows for gold ETFs have already reached $42 billion.
The SPDR Gold Trust ETF, the largest ETF backed by physical gold, has seen record inflows and has gained over 68%, while the smaller SPDR Gold Minishares ETF has experienced similar growth.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GLD | SPDR GOLD SHARES TRUST – USD ACC | 411.93 | -1.71 | -0.41% |
| GLDM | SPDR® GOLD MINISHARES® TRUST – USD ACC | 88.70 | -0.31 | -0.35% |
ETF LEADER BOARD DOMINATED BY NIMBLE FUNDS
Bartolini and others outline the traditional case for owning gold:
Gold’s Bullish Backdrop
- Persistent inflation above the Federal Reserve’s preferred 2% mandate
- Global instability
- Falling interest rates
- U.S. debt and deficits
- A weaker U.S. dollar
- Institutional instability at the Fed and in Japan
- Continued gold buying by central banks
Despite a market that may appear overextended, there is another bullish statistic for the precious metal.
Spot gold keeps climbing as traders and ETF investors see the yellow metal as a safe haven. (iStock)
“The tonnage of gold is actually below the high watermark,” Bartolini stated. “The actual amount of gold tons being held is below that high watermark,” suggesting potential for further upside.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SLV | ISHARES SILVER TRUST – USD ACC | 68.63 | +3.41 | +5.23% |
| SIVR | ABRDN PHYSICAL SILVER SHARES ETF – USD ACC | 72.07 | +3.58 | +5.23% |
Gold prices have surged over 70% this year, while silver has skyrocketed more than 140%, both reaching record highs. The Aberdeen Physical Silver Shares ETF and iShares Silver Trust have also benefited from this precious metals rally.
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This story, originally published on 10/14/25, has been updated with November ETF data from State Street.
Investors are plowing money into a broad swath of assets, putting the ETF industry in the driver’s seat of what may be another record year.
The theme song for the exchange-traded fund (ETF) industry could very well be Frank Sinatra’s “It Was a Very Good Year.” The industry has reached an impressive $1.25 trillion in assets through November, achieving this milestone faster than ever before.
According to Matt Bartolini, global head of research strategists at State Street Investment Management, “Largely speaking, if you look across different asset classes—stocks, bonds, commodities, and gold—it’s been a very good year to own assets. Assets across the board have outperformed cash, creating a positive return environment.” Bartolini shared these insights with FOX Business in October when the industry celebrated a previous milestone.
State Street manages over $5 trillion in assets, serving clients in more than 60 countries.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| STT | STATE STREET CORP. | 132.22 | +1.52 | +1.16% |
Last year, ETF inflows hit $1 trillion on December 11, 2024. Bartolini had accurately predicted that the industry would surpass the $1 trillion mark by October 15, achieving this milestone a day early. Full-year totals are now expected to reach $1.4 trillion, up from an earlier estimate of $1.3 trillion, largely driven by bonds.
“Fixed income ETFs continue to gain popularity each year, breaking records in the first nine months alone. Their use cases have expanded beyond simple beta building blocks to include more active strategies with identifiable track records,” Bartolini noted.
HAND ON FUND MANAGERS DRIVE ETF GROWTH
Bond ETFs attracted $42 billion in inflows last month and are on track to net a record $400 billion this year. Gold ETFs are also experiencing significant inflows, with $1 billion alone in November, as the price of gold continues to rise, trading above $4,482.80 an ounce as of December 23. Inflows for gold ETFs have already reached $42 billion.
The SPDR Gold Trust ETF, the largest ETF backed by physical gold, has seen record inflows and has gained over 68%, while the smaller SPDR Gold Minishares ETF has experienced similar growth.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GLD | SPDR GOLD SHARES TRUST – USD ACC | 411.93 | -1.71 | -0.41% |
| GLDM | SPDR® GOLD MINISHARES® TRUST – USD ACC | 88.70 | -0.31 | -0.35% |
ETF LEADER BOARD DOMINATED BY NIMBLE FUNDS
Bartolini and others outline the traditional case for owning gold:
Gold’s Bullish Backdrop
- Persistent inflation above the Federal Reserve’s preferred 2% mandate
- Global instability
- Falling interest rates
- U.S. debt and deficits
- A weaker U.S. dollar
- Institutional instability at the Fed and in Japan
- Continued gold buying by central banks
Despite a market that may appear overextended, there is another bullish statistic for the precious metal.
Spot gold keeps climbing as traders and ETF investors see the yellow metal as a safe haven. (iStock)
“The tonnage of gold is actually below the high watermark,” Bartolini stated. “The actual amount of gold tons being held is below that high watermark,” suggesting potential for further upside.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SLV | ISHARES SILVER TRUST – USD ACC | 68.63 | +3.41 | +5.23% |
| SIVR | ABRDN PHYSICAL SILVER SHARES ETF – USD ACC | 72.07 | +3.58 | +5.23% |
Gold prices have surged over 70% this year, while silver has skyrocketed more than 140%, both reaching record highs. The Aberdeen Physical Silver Shares ETF and iShares Silver Trust have also benefited from this precious metals rally.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
This story, originally published on 10/14/25, has been updated with November ETF data from State Street.
