Business · Companies · 13 hrs ago
German ETF assets more than doubled in three years
German investors held €697 billion in ETFs by mid-2026, more than twice the €308 billion held in 2023.
ETFs are investment funds traded on stock exchanges, and they have grown quickly in Germany, Europe’s largest investment-fund market.
MSCI indexes accounted for about 55% of German passive stock ETF assets, with the S&P, STOXX, FTSE Russell and Nasdaq indexes making up most of the rest.
The MSCI World index alone represented €178 billion, or 30.5% of those assets.
The market is concentrated in a few index providers, even though investors can choose from many different ETFs.
Private investors hold more than two-thirds of Germany’s ETF assets, and the MSCI World is commonly used as a core holding for a broadly spread stock portfolio.
ETF holdings rose by €197 billion from 2023 to mid-2026, though some of that increase came from investment gains, not new money.
The figures cover participating providers, so the actual amount invested may be higher.
German investors held €697 billion in exchange-traded funds (ETFs) in mid-2026, more than double the amount in 2023.
The total rose from €308 billion in 2023 to €500 billion a year before mid-2026.
Net inflows to ETFs were about €70 billion between mid-2025 and mid-2026, according to Germany’s fund association, BVI.
Recent market gains also accounted for a large part of the increase in assets.
MSCI indexes accounted for about 55% of passive equity ETF assets held by German investors.
- Who
- Investors in Germany held the ETFs. Private investors hold more than two-thirds of the country’s ETF assets.
- What
- ETF assets held in Germany reached €697 billion, more than double the 2023 amount.
- When
- Mid-2026. The figures were reported in an October 2026 study.
- Where
- Germany.
- Why
- Net inflows and market gains contributed to the increase. The sources do not identify one sole cause.
This story does not have two clearly opposing sides.
Investors in Germany held €308 billion in ETFs.
ETFs received net inflows of about €70 billion, according to BVI.
ETF assets held in Germany reached €697 billion.
BVI published a study reporting the figures.
- ETF assets, mid-2026
- €697 billion
- ETF assets, 2023
- €308 billion
- Net ETF inflows, mid-2025 to mid-2026
- About €70 billion
- MSCI share of passive equity ETF assets
- About 55%
- MSCI World share of passive equity ETF assets
- 30.5%