U.S. ETF Summary: December and Full Year 2025 Results

U.S. ETF assets under management reached a record $13.5 trillion at year-end 2025. December saw inflows of $228 billion, pushing the 2025 total to a record $1.49 trillion. In addition, 131 ETFs launched in December, for a record annual total of 1,167 new funds.

Fund Flows by Asset Class

ETF inflows for December totaled $228.9 billion, increasing 54% from the prior month.

• Equity accounted for 76% of total flows, rising 67% to $173 billion from $103 billion in November.

• Fixed income inflows declined 5.9% to $41.7 billion from $44.2 billion.

• Commodities inflows increased 396% to $9.99 billion from $2 billion.

• Currency ETFs rallied to gather $413 million after losing $3.4 billion.

• Asset allocation funds showed increased interest with flows reaching $1.6 billion, up from $676 million.

• Alternatives also experienced increased flows of $2.2 billion, up from $1.9 billion.

Fund Flows by Sector

Industrials, Consumer Discretionary, and Utilities attracted the greatest flows in December, while Technology, Consumer Staples, and Energy sectors experienced outflows.

ETF Launches

In December, 131 new ETFs were introduced. In total, 2025 recorded 1,167 ETF launches—a 59% increase from the 736 launches in 2024.

• Equities made up the majority of December launches, with 92 funds (61%).

• Fixed income added 15 funds, representing 19.5%.

• Currency ETFs introduced 10 new funds while asset allocation added 8 and alternatives added 6.

Notable launches include:

• DAC 3D Dividend Growth ETF (DVGR) invests in companies identified to have a consistent record of increasing dividends by double digits annually for at least 30 years.

• USCF Oil Plus Bitcoin Strategy Fund (WTIB) offers leveraged exposure to both the crude oil markets and Bitcoin futures.

• Grayscale Chainlink Trust ETF (GLNK) seeks to passively hold LINK (Chainlink’s native token) and track LINK’s value, including staking rewards. Prior to the ETF’s launch, the fund operated as a private placement with $59 million in assets.

• Founders 100 ETF (FFF) and Founder-Led ETF (FDRS) both invest in companies that are led by at least one of their founders.

By the Way: 2025 Highlights

ETFs reached a new milestone in 2025 as flows reached $1.49 trillion, a 32% increase over 2024’s $1.13 trillion.

Equity ETFs saw an annual inflow of $917 billion, with $809.5 billion allocated to size and style funds, of which $465.9 billion was directed to large-cap ETFs. Sector ETFs, including thematic funds, attracted $89.8 billion, led by Information Technology, Industrials, and Utilities.

Thematic ETFs saw a resurgence in 2025, attracting $43.5 billion in new investments after outflows of $1.28 billion in 2024. Leading themes during the year included robotics and AI, infrastructure, and big tech.

Fixed income ETFs experienced growth with flows rising 45% to $437 billion, up from $300 billion in 2024. Broad-based fixed income ETFs led the category with $177 billion in flows, followed by Treasury ETFs at $105.6 billion, and broad-based corporate bond ETFs with $62.4 billion.

Commodities ETFs had an exceptional year as well, fueled by gold reaching record-high prices. Total commodities ETF flows surged to $58 billion from just $1.3 billion the previous year, with gold ETFs accounting for $48.5 billion of the total.

ETFs had a remarkable 2025 with strong growth across most asset classes. Record-setting flows, expanding investor interest in both traditional and non-traditional strategies, and the rising role of digital assets contributed to a dynamic investment landscape.

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