U.S. ETF Monthly Summary: July 2025 Results

U.S. ETF assets under management showed a small increase over June’s numbers, reaching $11.88 trillion in July. Monthly inflows rose 12.6% from June to $116 billion, bringing the year-to-date total flows to $683.3 billion. With 111 launches, July saw the same staggeringly high number of new ETFs as June. (The average number of launches per month in 2024 was 60.) 

Fund Flows by Asset Class

U.S. listed ETF flows (in millions) as of July 31, 2025

Total ETF inflows for July reached $116 billion, a 12.6% increase from the prior month.

• Equity flows reached a high for the year at $74.5 billion in July, after a very sluggish first half.

• Inflows for fixed income decreased 18.4% from $32 billion in June to $26 billion in July. 

• Flows for currencies doubled in June from $5.6 billion to $11.8 billion, largely due to cryptocurrencies attracting $12 billion. 

Fund Flows by Sector

In July, the Financials sector rose to the top followed by Utilities and Technology. Offsetting these are outflows from Health Care, Consumer Discretionary, and Energy.

 ETF Launches 

Similar to last month, we again saw 111 new ETFs, bringing the year-to-date total to 592. Equity ETFs comprised the majority of the launches with 87 (or 78%) of the total, followed by fixed income with 12.

There were no traditional currency launches in July, but 7 cryptocurrency funds were introduced: 4 for Bitcoin, 2 for Solana, and 1 for XRP.

Similar to last month, single-stock ETFs remained a focus for issuers in July, with 27 (or 31%) of new equity funds. We see first-time exposure to stocks DraftKings (DKNG) through DKNX and DKUP, as well as NuScale Power (SMR) through SMU and SMUP.

WEBs Investments and State Street each introduced a suite of 11 ETFs. WEBs launched volatility-driven ETFs, employing swaps to tactically adjust exposure to a respective sector. State Street is taking a slightly different approach, providing sector exposure by investing in their Select Sector SPDR funds while actively selling short-dated call options.

Other ETFs that launched in July include:

• Themes China Generative Artificial Intelligence ETF (DRGN) tracks an index of Chinese companies with revenues from activities related to generative AI.

• Azoria 500 Meritocracy ETF (SPXM) invests in U.S. large caps, excluding firms with publicly disclosed DE&I hiring policies.

• WisdomTree GeoAlpha Opportunities Fund (GEOA) invests in companies around the world expected to benefit from geopolitical shifts.

• Kurv Gold Enhanced Income ETF (KGLD) is actively managed and aims to outperform physical gold through gold, gold bullion-related EPS, derivatives, and fixed-income securities.

By the Way

In terms of flows, July was a good month for cryptocurrencies. The funds attracted an astounding $12 billion in new assets. Three cryptocurrencies are in the spotlight—Ethereum (ETH), Solana (SOL), and XRP.

Of the three, ETH is the most well-known with a history dating back to 2013. The first Ethereum ETF (EETH) began trading in October 2023. In July, ETH funds had inflows amounting to a record $5.3 billion, a significant leap from H1’s $2.7 billion.

SOL and XRP are relatively new to the ETF industry, with products only being available since March and April, respectively. Flows for SOL funds gained $346.4 million, rising significantly compared to H1’s $85.4 million. Meanwhile, XRP funds similarly attracted $362 million, up from H1’s $202.7 million. 

Cryptocurrencies are known for their high volatility. After a positive month, single-day outflows for crypto ETFs on August 1, 2025, were $132 million. 

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