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ETF Express Europe Awards report 2024

ETF Express European ETF Awards’ winners for 2024 reflect evolving business

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The list of this year’s winners in the 14th outing of the ETF Express European ETF Awards finds new winners and new products, reflecting the changing environment in the European ETF industry over the past year.

The European ETF market achieved a record 28 per cent growth – reaching over USD1.8 trillion assets under management (AUM) – in 2023, according to EY’s research published earlier this year, with the firm writing that this reflects strong market performance and buoyant investor preference which has fuelled significant growth in the asset class. This growth is expected to continue at 15 per cent annually for the next five years and reach over USD4.5 trillion AUM by 2030, the firm says.

Much of that growth has come in the rise of active ETFs, with one firm dominating the winners, both in the service provider category and in the issuer categories – J.P. Morgan. In his interview with us, Mark Dunne, Head of ETF Product Management EMEA, J.P. Morgan Securities Services, comments that there has been significant interest from existing and potential new clients in the active ETF market. “From an Authorised Participant and client perspective, the focus has been on operational model efficiency,” Dunne says.

Meanwhile, in France, Silvia Bosoni, Group Head of ETFs at Euronext, comments that the latest trend for active ETFs comes with the change in decree by the French treasury allowing active ETFs in France, recently approved by the AMF. “The impact of active ETFs on the industry is still small in absolute terms, but the growth trend is strong and experts believe it will continue”, says Bosoni.

Cryptocurrency ETPs dominate the ETP news in Europe, with Bosoni noting that Euronext listed 21 new cryptocurrency ETPs in 2023 for a total of 129 and commenting that this number will only continue to grow. “The year 2023 also saw the listing of the first ETF on bitcoin, expanding the offering on Euronext markets” she says.

Best Market Maker/Authorised Participant in cryptocurrencies firm, DRW, also commented on the rise of active ETFs, noting that the rapid uptake of bitcoin ETFs in the US, signalled a transformative wave in investment preferences. “Notably, the recent approval by the FCA in the UK for crypto-backed ETNs signifies a growing appetite for digital assets across European markets, with expectations of more products and issuers entering the fray,” Bernardus Roelofs, Head of ETF Institutional Sales & Trading, DRW, says.

Back to that study from EY, and Hermin Hologan, EMEIA Wealth & Asset Management Leader at EY, said: “Growth in the current environment is no easy feat, and the industry’s focus on digital innovation to transform distribution channels and modernise how they operate will serve it well. Progress and innovation in digital assets particularly should go some way to helping ETF providers achieve greater profitability.”

We celebrate all our winners in this year’s European ETF awards.

Beverly Chandler, managing editor, ETF Express

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