MARKET INSIGHTS

Investing 2025: Insights from the "People & Money” Survey

Amy Jenkins Nov 13, 2025 CORE

KEY TAKEAWAYS

  • In partnership with YouGov, we recently surveyed U.S. adults representative of the U.S. population, to explore their investing habits across investment types and asset classes.1
  • We estimate over 24 million people in the U.S. own ETFs.2 The most common reasons U.S. investors choose ETFs is to benefit from their diversification, ease, and value.
  • In the next 12 months, we estimate 19 million U.S. adults are very likely to buy ETFs, with 44% of them being first-time ETF investors.3 These new ETF investors are predicted to start younger, and with less income.
  • Equity and crypto will be the most popular asset classes among those intending to invest in ETFs/ETPs in next 12 months, reflecting growing demand to access these exposures through new investment vehicles.
The iShares Bitcoin Trust ETF is not an investment company registered under the Investment Company Act of 1940, and therefore is not subject to the same regulatory requirements as mutual funds or ETFs registered under the Investment Company Act of 1940. The Trust is not a commodity pool for purposes of the Commodity Exchange Act. Before making an investment decision, you should carefully consider the risk factors and other information included in the prospectus.

WHAT’S DRIVING THE GROWTH OF ETF INVESTING?

According to BlackRock’s “People & Money” (Nov 2025), ETF investing in the U.S. continues to grow. The survey, conducted with YouGov across 5,200 adults, highlights that more individuals in the U.S. are invested than ever before, with broad engagement spanning income levels and generations. While older investors rely more on advisors, younger cohorts favor self-directed investing through digital channels and ETFs.

Stocks are the most widely held investment product, according to the survey, while over 23% of American investors own ETFs citing key reasons such as:

  • Diversification potential across markets and sectors (47%)
  • Ease of trading (40%)
  • Cost efficiency and low management fees (36%)

According to BlackRock, U.S. ETFs assets have more than doubled since 2020; rising to over $12 trillion in 2025.4

UNDERSTANDING THE MODERN ETF INVESTOR

Younger investors (ages 18–34) are 50% more likely to appreciate the ability to invest small amounts regularly, suggesting a growing preference for fractional ETF ownership and recurring investment tools. Convenience (only having to buy one fund) is the top cited reason for choosing ETFs among those aged 35 – 44.

Recurring investment plans — automated contributions at regular intervals — are gaining interest. 38% of U.S. respondents express interest within the next two years, especially younger and lower-income investors. This reflects a shift toward habit-based investing, where simplicity and automation encourage participation over time.

Looking ahead, 44% of those planning ETF purchases in the next 12 months will be first-time ETF investors. These new entrants will be starting younger, and with lower income levels (69% earning under $100,000) vs. existing ETF owners and are increasingly motivated by affordability and transparency.

Of this next wave of new ETF investors, 51% plan to invest in equity ETFs while 47% say they intend to invest in crypto ETPs.

That compares with current ETF investors, of which 83% intend to invest in equity ETFs and 36% plan to invest in crypto ETPs.

CONCLUSION

The 2025 People & Money analysis underscores a powerful shift: ETF investing is becoming more accessible and increasingly favored by younger, digitally native investors. As ETFs evolve to include crypto and thematic exposures, they continue to bridge financial inclusion gaps by offering transparent, diversified, and affordable entry points.

FEATURED FUNDS

  • iShares ETFs are available to purchase through a brokerage account or with a financial advisor.

    Buy through your brokerage

    iShares funds are available through online brokerage firms. All iShares ETFs and ETPs trade commission free online through Fidelity.

    By clicking on the button below, you will leave BlackRock’s website.

    Buy now on Fidelity

    Contact your advisor

    Contact a financial professional to discuss how iShares ETFs and ETPs can fit in your investment portfolio.

    Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses, which may be obtained by visiting the iShares ETF and BlackRock Fund prospectus pages. Read the prospectus carefully before investing. Investing involves risk, including possible loss of principal.

    Any links to third-party websites are provided for use at your own discretion. Each third party is solely responsible for the content presented and availability of its website. BlackRock does not control, monitor or maintain third-party websites, their content or the products/services they offer. Content may change without notice. When you leave BlackRock’s website and enter a third-party website, you will be subject to that site’s terms, policies and/or notices, including those related to privacy and security, as applicable. Please review those policies and notices on the third-party website.

    Before engaging Fidelity or any broker-dealer, you should evaluate the overall fees and charges of the firm as well as the services provided. Free commission offer applies to online purchases of select iShares ETFs in a Fidelity account. The sale of ETFs is subject to an activity assessment fee (from $0.01 to $0.03 per $1,000 of principal). For iShares ETFs, Fidelity receives compensation from the ETF sponsor and/or its affiliates in connection with an exclusive long-term marketing program that includes promotion of iShares ETFs and inclusion of iShares funds in certain Fidelity Brokerage Services platforms and investment programs. Please note, this security will not be marginable for 30 days from the settlement date, at which time it will automatically become eligible for margin collateral. Additional information about the sources, amounts, and terms of compensation can be found in the ETF’s prospectus and related documents. Fidelity may add or waive commissions on ETFs without prior notice.

    The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

    ©2024 BlackRock, Inc or its affiliates. All Rights Reserved. BLACKROCK, iSHARES, iBONDS, LIFEPATH, ALADDIN and the iShares Core Graphic are trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

    iCRMH1124U/S-3985892

  • iShares ETFs are available to purchase through a brokerage account or with a financial advisor.

    Buy through your brokerage

    iShares funds are available through online brokerage firms. All iShares ETFs and ETPs trade commission free online through Fidelity.

    By clicking on the button below, you will leave BlackRock’s website.

    Buy now on Fidelity

    Contact your advisor

    Contact a financial professional to discuss how iShares ETFs and ETPs can fit in your investment portfolio.

    Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses, which may be obtained by visiting the iShares ETF and BlackRock Fund prospectus pages. Read the prospectus carefully before investing. Investing involves risk, including possible loss of principal.

    Any links to third-party websites are provided for use at your own discretion. Each third party is solely responsible for the content presented and availability of its website. BlackRock does not control, monitor or maintain third-party websites, their content or the products/services they offer. Content may change without notice. When you leave BlackRock’s website and enter a third-party website, you will be subject to that site’s terms, policies and/or notices, including those related to privacy and security, as applicable. Please review those policies and notices on the third-party website.

    Before engaging Fidelity or any broker-dealer, you should evaluate the overall fees and charges of the firm as well as the services provided. Free commission offer applies to online purchases of select iShares ETFs in a Fidelity account. The sale of ETFs is subject to an activity assessment fee (from $0.01 to $0.03 per $1,000 of principal). For iShares ETFs, Fidelity receives compensation from the ETF sponsor and/or its affiliates in connection with an exclusive long-term marketing program that includes promotion of iShares ETFs and inclusion of iShares funds in certain Fidelity Brokerage Services platforms and investment programs. Please note, this security will not be marginable for 30 days from the settlement date, at which time it will automatically become eligible for margin collateral. Additional information about the sources, amounts, and terms of compensation can be found in the ETF’s prospectus and related documents. Fidelity may add or waive commissions on ETFs without prior notice.

    The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

    ©2024 BlackRock, Inc or its affiliates. All Rights Reserved. BLACKROCK, iSHARES, iBONDS, LIFEPATH, ALADDIN and the iShares Core Graphic are trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

    iCRMH1124U/S-3985892

The iShares Bitcoin Trust ETF is not an investment company registered under the Investment Company Act of 1940, and therefore is not subject to the same regulatory requirements as mutual funds or ETFs registered under the Investment Company Act of 1940. The Trust is not a commodity pool for purposes of the Commodity Exchange Act. Before making an investment decision, you should carefully consider the risk factors and other information included in the prospectus.
Photo: Amy Jenkins

Amy Jenkins

Head of U.S. Direct Investing at BlackRock