ETF Daily Fund Inflow Report

Date: September 17, 2025
Headline: Growth and Risk-On Assets Attract Strong Inflows as Equity and Crypto ETFs Lead

Market Overview
Today’s fund flows reflect a risk-on bias, with significant inflows into broad equity, sector-specific, and cryptocurrency ETFs. Equity-focused products accounted for the majority of the top 10 inflows, while bond ETFs captured smaller but still positive shares. The absence of major macroeconomic announcements ahead of the Federal Reserve’s policy decision later this month may have encouraged investors to rotate into growth-oriented assets. Performance trends reinforce this pattern, with several high-growth ETFs posting double-digit year-to-date returns.

ETF Highlights
The Vanguard S&P 500 ETF (VOO), with $794.19B in assets, remained the day’s largest recipient of capital, adding $2.66B. As a core proxy for the U.S. equity market, its 12.49% YTD gain aligns with broader market optimism, and its scale suggests it continues to serve as a benchmark holding for diversified portfolios.

The Financial Select Sector SPDR Fund (XLF) attracted $440.49M, reflecting renewed interest in cyclical sectors. Up 11.90% YTD, XLF’s performance mirrors strength in banking and financial stocks, potentially signaling expectations of sustained economic momentum. Similarly, the Consumer Discretionary Select Sector SPDR Fund (XLY), which gained 7.68% YTD and $261.12M in inflows, may indicate appetite for sectors tied to consumer spending recovery.

Cryptocurrency ETFs continued to draw attention, with the iShares Bitcoin Trust ETF (IBIT) and Fidelity Wise Origin Bitcoin Fund (FBTC) securing $366.20M and $315.18M, respectively. Both funds posted YTD returns exceeding 23%, suggesting speculative positioning in digital assets amid a bull market phase. Despite their relatively smaller AUM ($88.85B for IBIT and $24.16B for FBTC), their inflows highlight growing mainstream acceptance of crypto as an asset class.

Broad equity exposure also extended to the SPDR Portfolio S&P 500 ETF (SPLG) ($212.82M in flows) and the Invesco NASDAQ 100 ETF (QQQM) ($187.61M). SPLG’s $87.22B AUM and 12.50% YTD gain position it as a competitive alternative to VOO, while QQQM’s 15.41% YTD outperformance may reflect tech-driven growth bets.

Bond ETFs saw more modest inflows, with the Vanguard Total Bond Market ETF (BND) and Vanguard Total International Bond ETF (BNDX) adding $238.78M and $209.38M, respectively. BND’s 3.73% YTD return and $138.65B AUM underscore its role as a defensive anchor, while BNDX’s 0.84% YTD gain suggests cautious international fixed-income exposure.

Notable Trends
The dominance of growth assets is underscored by the absence of large-cap value or defensive equity ETFs in the top 10. Meanwhile, the parallel inflows into IBIT and FBTC—both Bitcoin-focused—highlight a maturing market for crypto products, with investors seemingly diversifying across providers. The strong performance of consumer discretionary and financials also points to a rotation toward sectors poised to benefit from economic expansion.

Conclusion
Today’s flows signal a clear tilt toward growth and risk assets, with equity and crypto ETFs capturing the lion’s share of investor demand. The strong YTD performance of top inflow recipients suggests a focus on capital appreciation over income or preservation, at least for now. While bond ETFs retained some appeal, their lower representation in the top 10 reinforces the current environment’s favorability for equities and alternative assets. This positioning could indicate confidence in near-term economic resilience or a strategic rebalancing ahead of anticipated central bank policy updates.