Blackrock remains the heavyweight when it comes to the ETF market in terms of total assets and issues, but rivals are catching up. As of November of last year, Blackrock managed 32% of total assets in the US ETF market, a slight drop from 33.7% at the same time last year. This figure was at 39% just 4 years ago. 

Blackrock’s major rival in ETFs is Vanguard. While Blackrock has ETFs for nearly every category, Vanguard is focused on fixed income and equities while sticking to its reputation for low costs and diversification. Recent flows into ETFs have favored cheap index funds which is one factor in Vanguard taking some market share. Vanguard has seen its market share rise from 25% to 29% over the last 4 years. 

The story is different in Europe, where Blackrock retains its dominance. As of November 2023, the firm had 44% of total ETF assets, and this figure was unchanged over the last 5 years despite the European ETF market more than doubling. Overall, Blackrock has $9.1 trillion in assets and is expected to have net inflows of over $250 billion. 

Blackrock has the benefits of a first-move advantage in Europe and has developed relationships with institutions. In Europe, investing continues to be driven by institutions rather than retail traders. 

Finsum: Blackrock remains the clear, global leader in ETFs. However, Vanguard is catching up especially in the US, where its index funds are seeing rapid growth.