Europe’s exchange-traded fund industry has travelled a remarkable path in 25 years, evolving from a niche experiment into a €2.4 trillion market that now anchors portfolios across the continent. Funds Europe’s special report that marks 25 years of ETFs in Europe speaks to a number of leading executives from ETF issuers and captures this transformation by examining the forces that shaped the industry and the challenges that lie ahead.
The first chapter highlights resilience. ETFs were tested during the global financial crisis and again in the Covid-19 pandemic, when traditional markets seized up but ETFs continued to provide tradable prices and transparent liquidity. These stress points proved the wrapper’s durability and accelerated adoption across client groups, from central banks to retail savers. Regulatory reforms under the Ucits regime reinforced trust, while Ireland and Luxembourg emerged as the structural hubs of Europe’s ETF ecosystem.
The special report – published in partnership with the securities services division of BNP Paribas – also looks at ETF distribution strategy and at the future, which includes higher liquidity requirements as ETFs become more specialised and active.
Featured in this report are Martijn Rozemuller, VanEck’s Emea CEO, and Hilary Lopez, head of third-party wealth for Emea at Goldman Sachs Asset Management, among other leading executives.