As global markets evolve at an unprecedented pace, ETFs are leading the charge — driving innovation, efficiency and opportunity for investors around the world. ETFs continue to power financial markets globally, with 2025 midyear flows into ETFs exceeding US$0.9 trillion¹ — a 25 percent increase over the midpoint of 2024, which itself set a new benchmark for the highest ETF inflows on record (US$1.9 trillion).

As the largest global ETF service provider,² we have a unique perspective on the market that comes from decades of experience and innovation. This perspective provides the foundation for our annual megatrends paper published at the beginning of each year where we identify trends and make predictions about the year ahead.

At the start of this year, we identified four key themes that we expected would drive ETF growth in 2025, including:

1. The global expansion and innovation of active management
2. Increasing adoption of digital asset/cryptocurrency strategies
3. Government/regulatory changes enabling expanded ETF adoption
4. The acceleration of retail adoption

At midyear, these trends are clearly unfolding and we see existing and new client activity increasing across the board. For more details around the latest developments in the fast-growing global ETF market, read our midyear review.