Insights
2025 Global ETF Outlook: Spotlight on the Netherlands
State Street’s latest ETF Outlook predicts record growth for ETFs in Europe, and outlines key market trends affecting our clients in the Netherlands and other major markets.
June 2025
Mark van Weezenbeek
Head of State Street Netherlands
Exchange-traded funds (ETFs) in Europe are booming. The markets established a new highwater mark in 2024, with investment inflows in the region reaching US$270 billion — nearly 40 percent higher than the previous record, according to State Street’s recent report, 2025 Global ETF Outlook: The Expansion Accelerates.
Importantly, ETFs attracted inflows across all asset classes (equity, fixed income, cryptocurrency) and strategies (active, ESG, leveraged/inverse, passive, smart beta).
The Netherlands has one of the world's largest pension fund sectors, making institutional investors a dominant force in its financial markets. ETF adoption is growing in the country, particularly among these large institutions — but also increasingly among retail investors.
The country has a strong investment and savings culture, with four million investors representing 30 percent of the adult population. That number continues to rise, with more than 400,000 new investors coming into the market just since 2022.1
When it comes to ETFs specifically, one quarter of the Netherland’s investors owns an ETF. Further expansion is predicted, with 281,000 new investors expected to adopt ETFs over the coming 12 months. Growth in this market is further accelerated by the availability of popular digital investment platforms. Four out of five Dutch ETF investors access their ETF products via digital platforms.2
Looking more broadly across Europe, State Street’s Global ETF Outlook also explores the growth of active ETFs as one of the emerging trends shaping the European market. Inflows into active ETFs rose from US$7 billion to US$20 billion in 2024. At the same time, the number of active ETF products also increased significantly, from 103 to 178. It is striking that inflows into active ETFs were equal to 74 percent of the previous year’s total assets under management in Europe.3
The report predicts that this trend will persist, with more issuers and products entering the market, including standalone strategies and the expansion of unlisted funds launching a listed share class.
