##  [# BlackRock Looks to Take ETF Volume Crown from State Street](/sections/news/blackrock-looks-take-etf-volume-crown-state-street) 

 

# BlackRock Looks to Take ETF Volume Crown from State Street

 

 

\- State Street’s No. 1 position is being threatened, Bloomberg Intelligence reports.  
\- Trading in BlackRock’s IBIT and IVV is surging, pushing volume higher.  
\- State Street’s SPY this year lost its position as world’s biggest ETF.



 

 

 

 

 [![RonDay](/sites/default/files/styles/author_image_icon/public/2024-01/etf.com_Author_RonDay.png?itok=XBj72rrJ "RonDay")](/contributors/ron-day) 

[By Ron Day](/contributors/ron-day)

 Jun 18, 2025

 Edited by: David Tony

 

 

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[State Street Corp. (STT)](/stock/stt) is on track to lose its position as the world leader in ETF trading volume, as investors aggressively snap up [BlackRock Inc. (BLK)](/stock/blk) funds, according to Bloomberg Intelligence.

State Street, whose SPDR business is the third-largest U.S. ETF issuer by assets behind BlackRock’s iShares and The Vanguard Group, controls 31% of U.S. exchange-traded fund trading volume, Bloomberg ETF Analyst Athanasios Psarofagis wrote. While rival BlackRock holds 25%, its share is growing faster thanks to trading in the [**iShares Bitcoin ETF Trust (IBIT)**](/ibit), its spot Bitcoin fund, and the [**iShares Core S&amp;P 500 ETF (IVV)**](/ivv).

Volume is critical in the ETF business where the three largest funds, the [**Vanguard S&amp;P 500 ETF (VOO)**](/voo), the [**SPDR S&amp;P 500 ETF Trust (SPY)**](/spy) and IVV charge rock-bottom fees and count on huge assets to generate income. The $607.4 billion SPY, which this year lost its title as the world’s largest ETF to the $679.8 billion VOO, is the most expensive among the world’s three biggest ETFs.

“BlackRock has steadily narrowed the gap and is on track to take the No. 1 spot,” Psarofagis wrote.

## SPY Volume 

VOO has become the largest ETF due to winning the most investor money this year, hauling in a net $80.9 billion while the other two big funds have had outflows. Still, SPY typically does more volume: Last week, 585 million shares traded, crushing VOO’s 67.8 million and IVV’s 66.8 million, according to FactSet data on etf.com.

IBIT, the fastest-growing ETF [on record](https://bitcoinmagazine.com/news/blackrocks-ishares-bitcoin-trust-shatters-etf-growth-record-surpassing-70-billion-in-just-341-days), had volume of 339.7 million shares last week.

[![IBIT One-Month Price and Volume](/sites/default/files/inline-images/image_398.png)](/ibit)

*IBIT One-Month Price and Volume—Source: FactSet*

Volume overall has grown “dramatically” in the past few years, and now about $13 trillion trades each quarter, Psarofagis wrote. The top 10 ETFs account for 44% of all volume and, while that’s concentrated, it’s actually broadened from a peak of 51%, he said.

Analysts have speculated that IVV may soon surpass SPY to become the second-largest ETF.

 
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 [ Ron Day Contributing Editor ](/contributors/ron-day) 

 

 

  Ron Day is Contributing Editor at etf.com. He joined the company in October 2022 and has served as Managing Editor, deputy managing editor and…   [View Bio](/contributors/ron-day)

 



 

 


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