In 2024, the ETF industry experienced unprecedented growth, attracting over $1 trillion in inflows with a historic 746 launches. This surge propelled the total assets held in ETFs to an impressive $10+ trillion. Nasdaq listed 203 ETFs in the U.S. in 2024 and set a record with 67% growth in new listings on the exchange year-over-year, compared to a 37% increase over the same time period for total market launches.
The total number of U.S. ETFs on Nasdaq rose 28% to 768, with assets under management of $1.87T (as of December 31, 2024). There were 42 first-time ETF issuers on the Nasdaq Stock Market.
Leading off 2024 was the debut of spot crypto ETFs including Blackrock iShares Bitcoin Trust, IBIT, which listed in January 2024 and reached $50B in assets under management by the end of the year, making IBIT a record-breaking ETF launch. The ETF space is heating up in 2025, given the optimism for crypto regulatory clarity.
Out of Nasdaq’s U.S. ETF launches, 4% were focused on cryptocurrency, 9.5% applied an options or defined outcome strategy, and over three quarters were active transparent in terms of their management style. Danielle Rutsky, Lead Product Manager at Nasdaq, said in a blog: “As we see the continued growth of unique and advanced strategies utilizing the ETF wrapper, we look to mirror that innovation in issuer support.”
In 2024, the Nasdaq Stock Market continued to be the largest U.S. equity market by trading volume and the ETF business benefited from this deep equities trading liquidity pool and the world’s most robust electronic auction, the Nasdaq Closing Cross. Nasdaq’s market share of total ETF listings grew to 20% in 2024, an almost 10% increase over the previous year and the third consecutive year of market share increases for the exchange.
Rutsky said Nasdaq is always looking to better advance ETF industry support and data transparency. Nasdaq launched ETF Intel in 2023, a first-of-its-kind, customizable ETF data portal that combines individual market quality data with overall industry trends to allow for more powerful peer comparison and trading analysis. This year, Nasdaq is evaluating adding more data and visualizations to ETF Intel for premier clients and enhancing its Designated Liquidity Provider (DLP) program to continue to expand support for various types of ETFs and help increase liquidity with ETFs that have lower trading volumes.
Rutsky also remarked that approximately 50 asset managers have filed with the SEC already this year to offer share classes of ETFs and mutual funds within the same investment vehicle, and there were a record 55 mutual funds to ETF conversions in 2024. “2025 could be a pivotal year for the funds industry,” added Rutsky.
View Nasdaq’s 2024 ETF Listings Highlights: (https://www.nasdaq.com/solutions/nasdaq-etf-listings)
