While the current success of ETFs is neither new nor surprising, the sector's numbers remain striking. In the latest edition of its annual ETF survey, in particular PwC notes that assets under management surged by over 33% in 2025, reaching $19.5 trillion last December.
Of course, the industry benefited from strong momentum in markets, whether in equities or bonds. But that is not the only key to its success. Based on a survey of 72 professionals, the study also - and above all - stresses the importance of innovation in the ETF space.
Whether they relate to product supply or distribution, these developments are seen as a driver for the future. To the point that the ETF market could almost jump by 80% by 2030. In fact, according to one-third of respondents, volumes should reach $35 trillion by then.
Easier distribution
It is notably through tokenization that professionals see bright prospects. Greater liquidity, a universe expanded to more asset classes, 24/7 access, lower entry thresholds… These are the openings the industry hopes for thanks to digital innovation.
These arguments should, without a doubt, make it easier to reach millennials and Generation Z - who are already keen on ETFs.
An innovative product range
Asset managers also see technology as a way to broaden the product offering. The study notably points to the expected growth of the digital-assets ETF segment.
The other pillar is made up of so-called "active” ETFs. By this, we mean ETFs that aim to outperform their benchmark index while keeping fee levels far below those of traditional active management.
This segment has already taken off. "Assets under management reached $1.7 trillion globally,” PwC notes, or 8.7% of the ETF market. By the end of January, the $2 trillion mark had even been exceeded, according to a tally by another analytics firm, ETFGI.
15% of assets under management in 2030?
Overall, it is in this segment that managers identify a major lever. According to PwC's survey, 25% of professionals consulted see volumes reaching $4 trillion in 2030, and 35% put them at $5 trillion or more.
Compared with the previously mentioned projection of a total market of $35 trillion, active ETFs could therefore account for around 15% of the market by then, based on the high-end forecast.
Finally, it is worth noting that Europe is a major outlet. In a recent report, Morningstar noted that while active ETFs already represent 11% of ETF assets under management across the Atlantic, their weight remains far more anecdotal in Europe, with a current market share of just 2.9%.
