Institutional ETF adoption in North America doubles in five years, reaching $337B in assets.

New research by Cerulli Associates and Invesco reveals that North American institutional asset owners have doubled their use of ETFs over the past five years, with holdings reaching approximately $337 billion in 2025. This growth, at a 14.4% CAGR, outpaces the broader institutional market and reflects a shift toward ETFs as core portfolio tools for liquidity, efficiency, and access to diverse strategies. Institutions plan to further increase ETF allocations, including active and niche ETFs, as they seek innovative investment solutions and operational benefits. This trend signals ETFs becoming a fundamental part of institutional investment strategies moving forward.