BlackRock Poised to Overtake State Street in ETF Trading Volume After 30-Year Reign

According to Bloomberg analyst Eric Balchunas, BlackRock is closing in on State Street in total ETF traded value, marking what would be a dramatic dethroning after three decades of dominance.

Charting a Power Shift

The data, shared by Balchunas and sourced from @psarofagis, highlights a clear trend: BlackRock’s share of ETF trading volume has surged to 24.3%, while State Street has dropped to 31.3%. The gap has narrowed significantly over the past few years, driven by increasing demand for BlackRock’s iShares products.

In contrast, State Street’s position was briefly bolstered by the so-called “Tariff Tantrum,” which triggered unusually high volumes in its flagship SPY ETF. However, this appears to have been a short-term anomaly. Balchunas notes, “Barring another one of those, BLK is gonna take over in next 6-12mo ish.”

Irony in Timing

While BlackRock appears set to overtake State Street in volume, it may simultaneously be losing ground in overall assets under management (AUM) to Vanguard. Balchunas points to this as a moment of irony in what he describes as “Life in the Terrordome”—a reference to the intense competitive dynamics in the ETF space.

Implications for the Industry

A changing of the guard in ETF volume leadership reflects deeper shifts in market behavior, investor preferences, and trading strategies. BlackRock’s rise underscores the growing appeal of its wide-ranging ETF suite and the firm’s increasing influence across both institutional and retail segments.

If current trends hold, the next 6–12 months could mark the end of an era and the beginning of a new one, with BlackRock redefining the ETF trading hierarchy.

The post BlackRock Poised to Overtake State Street in ETF Trading Volume After 30-Year Reign appeared first on Coindoo.