iShares by BlackRock has reported on global ETP flows for November with key takeaways revealing that November was the third-highest inflow month of 2025.
The firm says that global ETPs added USD202.4 billion in November. Although this was the lowest inflow in the past three months, it was still the third-highest month of the year, taking total flows to USD2.0 trillion. 2025 remains on track to be a record year for global ETP net inflows.
Defensive tilt starts to flow in equities, the firm writes. “Global healthcare flows rose to their second-highest month on record. Not all flows were defensive though, as global tech remained popular, taking in a further USD15.0 billion in November.”
The firm also found that flows moderated across asset classes. “Flows moderated across equity (USD137.0 billion), fixed income (USD60.1 billion) and commodity (USD7.0 billion) ETPs. Alternative strategy ETPs saw their first month of outflows since March, with USD4.2 billion out, driven by crypto ETP selling.”
