Betashares Australian ETF Review: February 2024

Industry reaches fresh new high with international equities all the rage

  • The Australian ETF industry hit a new all-time high in assets under management in February with industry growth driven by a combination of asset value appreciation and investor net inflows.
  • February saw assets grow 3.4% month-on-month, for a total monthly market cap increase of $6.3B, with the industry reaching a new all-time high of $189.4B.
  • Net inflows for the month were $1.6B, representing ~25% of the industry’s growth in February.
  • As the holiday period came to a close, we saw trading value rise a full 24% month on month in February, with ASX trading value of ~$10B for the month.

 Exchanged Traded Funds Market cap

  • Australian Exchange Traded Funds Market Cap (ASX + CBOE): $189.4B – New all-time high
  • ASX CHESS Market Cap: $161.4B1
  • Market Cap increase for month: 3.4%, $6.3B
  • Market cap growth for last 12 months: 35.5%, $49.6B

Net Flows

  • Net flows for the month: $1.6B

New Products

  • 359 Exchange Traded Products trading on the ASX & CBOE
  • A big month of new launches with 11 new funds launched. This included two new Nasdaq variants by Betashares (JNDQ and QNDQ), 5 new factors funds launched by iShares on CBOE along with 4 other funds by other issuers.
  • Due to the closure of the single bond ETF oriented issuer XTB, all of their remaining exposures (19) were delisted from the ASX and CBOE.

Trading value

  • Trading value rose by 24% in February, with ASX trading value of ~$10B for the month


  • The best performing ETFs were overwhelming crypto focused products, with both Ethereum (+51%), Bitcoin (47%) and crypto oriented equities (35%) rising strongly post the approval of US-listed Bitcoin ETFs.

Top 5 category inflows (by $)

Broad Category Inflow Value
International Equities $1,051,299,196
Fixed Income $309,465,791
Australian Equities $299,787,097
Short $31,784,476
Multi-Asset $25,810,949

Top category outflows (by $)

Broad Category Inflow Value
Cash ($97,915,444)

Top sub-category inflows (by $)

Sub-category Inflow Value
International Equities – Developed World $583,157,637
International Equities – US $294,898,658
Australian Equities – Broad $237,350,917
Australian Bonds $225,015,723
International Equities – E&R – ESG Lite $150,592,293

Top sub-category outflows (by $)

Sub-category Inflow Value
Cash ($97,915,444)
International Equities – Europe ($73,883,456)
International Equities – E&R – Sustainability ($33,863,355)
Australian Equities – Sector ($33,428,416)
International Equities – E&R – Ethical ($17,740,478)

Top Performing Products – 2023

Ticker Product Name Performance
EETH Global X 21Shares Ethereum ETF 51.1%
EBTC Global X 21Shares Bitcoin ETF 46.9%
CRYP Betashares Crypto Innovators ETF 34.9%
MCCL Munro Climate Change Leaders Fund (Managed Fund) 21.3%
CURE Global X S&P Biotech ETF 14.2%


1. Since February 2023, the ASX started reporting additional data on a CHESS-only basis. The primary use of such data is that it will exclude, amongst other things, the FuM and Flows in ‘dual class’ Active ETFs and potentially provide a more accurate picture of exchange traded activity.

Photo of Ilan Israelstam

Written by

Ilan Israelstam

Chief Commercial Officer

Investor & founder with a Financial Services & Fintech focus. Co-founder of Betashares. Passionate about entrepreneurship and startups.

Read more from Ilan.


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