30.01.25 14:02:53

ETFs & ETPs 2024 continue to grow

Impressive figures for the ETF and ETP offering on Xetra:

  • + 40 per cent assets under management, + 28 per cent trading volume, 281 new products
  • Actively managed ETFs establish themselves
  • Thematic and sector ETFs drive growth
  • Money market ETFs as an alternative to call money
  • Crypto ETPs benefit from the lively crypto market


31 January 2025 FRANKFURT (Frankfurt Stock Exchange). Deutsche Börse's segment for exchange-traded funds (ETFs) and exchange-traded products (ETPs) continued its growth trajectory last year and reached an all-time high with assets under management of €1.83 trillion (+33.9 per cent; December 2023: €1.36 trillion). At the same time, the trading volume in ETFs and ETPs on Xetra increased significantly by 28% to €230.8 billion (2023: €180.4 billion). Trading in non-euro currencies achieved a particularly high growth rate of 82.9 percent to €1.81 billion (2023: €989 million). Deutsche Börse now offers a total of 180 ETFs and ETPs in other trading currencies such as US dollars and pounds sterling.

The positive development on the trading side is also reflected in the continued high interest of European ETF issuers in launching new products: with 281 new ETF listings, Deutsche Börse recorded the highest listing activity since the segment was launched in 2000. At the end of the year, the product offering on Xetra stood at 2,328 ETFs (2023: 2,125 ETFs) and 446 ETPs (2023: 424 ETPs). Xetra was thus once again the largest exchange trading venue for ETFs and ETPs in Europe.

Actively managed ETFs establish a strong foothold in the European market

Active ETFs were once again among the main growth drivers last year, setting new records across all key figures. In 2024, 78 new products were added, meaning that 197 active ETFs are now tradable on Xetra (2023: 119 active ETFs). Fund assets invested in active ETFs amounted to €44.2 billion at the end of the year, almost twice as high as in the previous year (December 2023: €22.4 billion). In trading, the products achieved an annual turnover of €2.76 billion, an increase of 127% compared to the previous year (2023: €1.22 billion). The number of issuers has also increased: Four new providers of actively managed ETFs were added in 2024. This means that 22 issuers now offer active ETFs on Xetra.

“Active ETFs are an up-and-coming category in the ETF product universe that is enjoying great popularity on both the provider and investor side. Investors benefit not only from innovative investment concepts, but also from the products' low management fees,” says Stephan Kraus, Head of Deutsche Börse's ETF & ETP segment. The average management fee for index ETFs on Xetra was 0.27 percent at the end of the year, while that of active ETFs was 0.36 percent.

Investor focus on thematic ETFs on artificial intelligence, the semiconductor industry and the defense sector

Driven by the growth potential of generative AI applications and the resulting demand for semiconductors, ETFs on these themes recorded particularly high demand. Accordingly, the invested assets of these ETFs rose by 95.1% year-on-year to €10.7 billion (2023: €5.5 billion) and the trading volume by 177.2% to €4.55 billion (2023: €1.64 billion). Defense-related ETFs achieved even higher growth rates. After the first defense ETFs were listed on Xetra in 2023, their assets under management reached €2.17 billion at the end of the year (+ 1,652%; 2023: €123.9 million) with a trading turnover of €1.04 billion (+ 1,263%; 2023: €76.1 million).

Overnight ETFs are developing into an overnight money alternative

In the area of bond ETFs, overnight ETFs have continued their success story. Overnight ETFs aim to achieve a return that is based on the key interest rates of a currency area. They are therefore increasingly being used by investors as an alternative to traditional overnight money. This is also illustrated by the increase in fund assets and trading turnover of the products on Xetra. Both key figures achieved triple-digit growth rates last year, with fund assets totaling €19.2 billion at the end of the year (+188.8%; 2023: €6.64 billion) and trading turnover at €6.57 billion (+149.1%; 2023: €2.64 billion).

Crypto ETNs benefit from revival of the crypto market 

The approval of the first spot Bitcoin ETFs in the US market at the beginning of 2024 also led to a revival of the market for crypto exchange-traded notes (ETNs) in Europe. With a total annual Xetra turnover of €10.3 billion, the products recorded a particularly high increase in turnover of 239.2% compared to the previous year (2023: €3.05 billion). In the same period, invested assets increased significantly by 115.3% to €11.4 billion (2023: €5.31 billion). At the end of the year, the range of crypto ETNs on Xetra comprised 93 products that tracked the performance of 21 individual cryptocurrencies and 21 crypto indices. All crypto ETNs tradable on Xetra are physically collateralized by the underlying crypto assets. As the largest European trading venue for crypto ETNs, Xetra also offers centralized clearing of all products in trading, which is unique in Europe in terms of the breadth of cryptocurrencies offered.

31 January 2025, © Deutsche Börse AG