As of December 2024, Japan held United States treasury securities totaling about 1.06 trillion U.S. dollars. Foreign holders of United States treasury debt According to the Federal Reserve and U.S. Department of the Treasury, foreign countries held a total of 8.5 trillion U.S. dollars in U.S. treasury securities as of December 2024. Of the total held by foreign countries, Japan and Mainland China held the greatest portions, with China holding 759 billion U.S. dollars in U.S. securities. The U.S. public debt In 2023, the United States had a total public national debt of 33.2 trillion U.S. dollars, an amount that has been rising steadily, particularly since 2008. In 2023, the total interest expense on debt held by the public of the United States reached 678 billion U.S. dollars, while 197 billion U.S. dollars in interest expense were intra governmental debt holdings. Total outlays of the U.S. government were 6.1 trillion U.S. dollars in 2023. By 2029, spending is projected to reach 8.3 trillion U.S. dollars.

Holdings of US Treasury Securities data was reported at 784.300 USD bn in Feb 2025. This records an increase from the previous number of 760.802 USD bn for Jan 2025. Holdings of US Treasury Securities data is updated monthly, averaging 937.400 USD bn from Mar 2000 (Median) to Feb 2025, with 300 observations. The data reached an all-time high of 1,316.700 USD bn in Nov 2013 and a record low of 58.900 USD bn in Nov 2000. Holdings of US Treasury Securities data remains active status in CEIC and is reported by U.S. Department of the Treasury. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FF: Holdings of US Treasury Securities.

In 2023, China held **** percent of foreign held U.S. securities. Japan held a further **** percent of foreign held securities. The national debt of the United Stated can be found here.

The value of U.S. Treasury securities held by residents of Russia amounted to ** million U.S. dollars in March 2025, marking a stark contrast to ***** billion U.S. dollars held in January 2020. The lowest over the period under consideration was recorded in November 2023 at ** million U.S. dollars. Furthermore, in March 2020, the figure plummeted to **** billion U.S. dollars, down from **** billion U.S. dollars one month prior. Russia’s holdings of U.S. treasury securities have decreased since 2014 following the Western sanctions over the annexation of Crimea and have further dropped in 2022 after more restrictions were imposed over the war in Ukraine. What are U.S. treasury holdings? U.S. treasury holdings are government debt instruments that contribute to the funding of various government projects in the country. The U.S. Department of Treasury allows individuals and organizations to invest in treasury notes, bills, and bonds, which are the main three types of securities. Just under half of the outstanding ** trillion U.S. dollars as of May 2024 were in the form of treasury notes. The notes have varying maturities and coupon payment frequencies, which are different from the maturity periods of treasury bills and bonds. Main foreign holders of U.S. treasury securities Foreign holdings of U.S. treasury debt amounted to ***** trillion U.S. dollars as of January 2024. Japan and China held the largest portions, with China possessing ***** billion U.S. dollars in U.S. securities. Additionally, other significant foreign holders included oil exporting countries and Caribbean banking centers.

Graph and download economic data for Federal Debt Held by Foreign and International Investors (FDHBFIN) from Q1 1970 to Q1 2025 about foreign, debt, federal, and USA.

Data about influencing factors of China’s holdings of U.S. Treasury securities

The yield on China 10Y Bond Yield rose to 1.67% on July 14, 2025, marking a 0 percentage point increase from the previous session. Over the past month, the yield has edged up by 0.05 points, though it remains 0.58 points lower than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. China 10-Year Government Bond Yield - values, historical data, forecasts and news - updated on July of 2025.

United States USF: Short Term: US Treasury: China data was reported at 2.345 USD bn in 2017. This records an increase from the previous number of 1.717 USD bn for 2016. United States USF: Short Term: US Treasury: China data is updated yearly, averaging 4.800 USD bn from Jun 2002 (Median) to 2017, with 16 observations. The data reached an all-time high of 158.542 USD bn in 2009 and a record low of 494.000 USD mn in 2003. United States USF: Short Term: US Treasury: China data remains active status in CEIC and is reported by US Department of Treasury. The data is categorized under Global Database’s USA – Table US.Z047: Foreign Residents' Portfolio Holdings of U.S. Securities.

United States USF: Long Term: US Treasury: China data was reported at 1,144.081 USD bn in 2017. This records a decrease from the previous number of 1,238.077 USD bn for 2016. United States USF: Long Term: US Treasury: China data is updated yearly, averaging 932.620 USD bn from Jun 2002 (Median) to 2017, with 16 observations. The data reached an all-time high of 1,302.405 USD bn in 2011 and a record low of 95.200 USD bn in 2002. United States USF: Long Term: US Treasury: China data remains active status in CEIC and is reported by US Department of Treasury. The data is categorized under Global Database’s USA – Table US.Z047: Foreign Residents' Portfolio Holdings of U.S. Securities.

Government bond spreads as of April 15, 2025, varied widely among the largest economies when compared to German Bunds and U.S. Treasury notes. The United Kingdom's bond spread was the higest against both, with ***** basis points (bps) over Germany and **** bps over the U.S. In contrast, China and Japan display negative spreads, with Japan having the lowest spread at ****** bps against U.S. Treasuries. Italy, the United Kingdom, and Canada showed moderate spreads. Positive bond spreads indicate that a country’s government bonds have higher yields compared to the benchmark bonds - in this case, the German Bunds and U.S. Treasury notes. Higher spreads often signal perceived higher risk or economic uncertainty, as investors demand greater returns for holding these bonds. expectations. Conversely, negative spreads mean that these bonds offer lower yields than the benchmark. Negative spreads often indicate strong investor confidence, safe-haven status, or lower inflation expectations, as investors are willing to accept lower returns for the perceived stability of these bonds.

持有美国国债在02-01-2025达784,300.000百万美元，相较于01-01-2025的760,802.000百万美元有所增长。持有美国国债数据按月更新，03-01-2000至02-01-2025期间平均值为937,400.000百万美元，共300份观测结果。该数据的历史最高值出现于11-01-2013，达1,316,700.000百万美元，而历史最低值则出现于11-01-2000，为58,900.000百万美元。CEIC提供的持有美国国债数据处于定期更新的状态，数据来源于美国财政部，数据归类于中国经济数据库的财政 – Table CN.FF: Holdings of US Treasury Securities。

United States US Securities by Foreign Holders: China data was reported at 1,540.549 USD bn in 2017. This records a decrease from the previous number of 1,629.572 USD bn for 2016. United States US Securities by Foreign Holders: China data is updated yearly, averaging 1,502.288 USD bn from Jun 2002 (Median) to 2017, with 16 observations. The data reached an all-time high of 1,844.020 USD bn in 2015 and a record low of 181.478 USD bn in 2002. United States US Securities by Foreign Holders: China data remains active status in CEIC and is reported by US Department of Treasury. The data is categorized under Global Database’s USA – Table US.Z047: Foreign Residents' Portfolio Holdings of U.S. Securities.

United States USF: Long Term: Corporate Debt: China data was reported at 16.288 USD bn in 2017. This records an increase from the previous number of 15.898 USD bn for 2016. United States USF: Long Term: Corporate Debt: China data is updated yearly, averaging 18.337 USD bn from Jun 2002 (Median) to 2017, with 16 observations. The data reached an all-time high of 58.494 USD bn in 2006 and a record low of 10.898 USD bn in 2002. United States USF: Long Term: Corporate Debt: China data remains active status in CEIC and is reported by US Department of Treasury. The data is categorized under Global Database’s USA – Table US.Z047: Foreign Residents' Portfolio Holdings of U.S. Securities.

USF: Long Term: US Agency: NAB: China data was reported at 8.940 USD bn in 2016. This records a decrease from the previous number of 14.005 USD bn for 2015. USF: Long Term: US Agency: NAB: China data is updated yearly, averaging 60.413 USD bn from Jun 2003 (Median) to 2016, with 14 observations. The data reached an all-time high of 170.096 USD bn in 2007 and a record low of 8.940 USD bn in 2016. USF: Long Term: US Agency: NAB: China data remains active status in CEIC and is reported by US Department of Treasury. The data is categorized under Global Database’s USA – Table US.Z047: Foreign Residents' Portfolio Holdings of U.S. Securities.

USF: Long Term: China data was reported at 1,343.762 USD bn in 2017. This records a decrease from the previous number of 1,449.908 USD bn for 2016. USF: Long Term: China data is updated yearly, averaging 1,285.091 USD bn from Jun 2002 (Median) to 2017, with 16 observations. The data reached an all-time high of 1,562.948 USD bn in 2011 and a record low of 164.704 USD bn in 2002. USF: Long Term: China data remains active status in CEIC and is reported by US Department of Treasury. The data is categorized under Global Database’s United States – Table US.Z047: Foreign Residents' Portfolio Holdings of United States Securities.

United States USF: Short Term: US Agency: China data was reported at 193.000 USD mn in 2017. This records an increase from the previous number of 158.000 USD mn for 2016. United States USF: Short Term: US Agency: China data is updated yearly, averaging 458.500 USD mn from Jun 2002 (Median) to 2017, with 16 observations. The data reached an all-time high of 18.345 USD bn in 2005 and a record low of 41.000 USD mn in 2011. United States USF: Short Term: US Agency: China data remains active status in CEIC and is reported by US Department of Treasury. The data is categorized under Global Database’s USA – Table US.Z047: Foreign Residents' Portfolio Holdings of U.S. Securities.

United States USF: Long Term: Equity: Common: China data was reported at 136.052 USD bn in 2017. This records an increase from the previous number of 129.257 USD bn for 2016. United States USF: Long Term: Equity: Common: China data is updated yearly, averaging 108.067 USD bn from Jun 2002 (Median) to 2017, with 16 observations. The data reached an all-time high of 263.365 USD bn in 2015 and a record low of 1.490 USD bn in 2003. United States USF: Long Term: Equity: Common: China data remains active status in CEIC and is reported by US Department of Treasury. The data is categorized under Global Database’s USA – Table US.Z047: Foreign Residents' Portfolio Holdings of U.S. Securities.

USF: Long Term: US Agency: China data was reported at 183.393 USD bn in 2017. This records a decrease from the previous number of 195.933 USD bn for 2016. USF: Long Term: US Agency: China data is updated yearly, averaging 203.362 USD bn from Jun 2002 (Median) to 2017, with 16 observations. The data reached an all-time high of 527.053 USD bn in 2008 and a record low of 58.607 USD bn in 2002. USF: Long Term: US Agency: China data remains active status in CEIC and is reported by US Department of Treasury. The data is categorized under Global Database’s USA – Table US.Z047: Foreign Residents' Portfolio Holdings of U.S. Securities.

United States FSU: Debt: Long Term: Straight Debt: China data was reported at 2.977 USD bn in 2017. This records an increase from the previous number of 1.620 USD bn for 2016. United States FSU: Debt: Long Term: Straight Debt: China data is updated yearly, averaging 1.372 USD bn from Dec 2003 (Median) to 2017, with 15 observations. The data reached an all-time high of 2.977 USD bn in 2017 and a record low of 526.000 USD mn in 2009. United States FSU: Debt: Long Term: Straight Debt: China data remains active status in CEIC and is reported by US Department of Treasury. The data is categorized under Global Database’s USA – Table US.Z044: U.S. Residents' Portfolio Holdings of Foreign Securities.

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ETF Market Size 2025-2029

The ETF market size is forecast to increase by USD 17.94 billion at a CAGR of 20.2% between 2024 and 2029.

The market continues to experience robust growth, with increasing institutional adoption and investor preference for cost-effective, diversified investment solutions. One of the key drivers propelling this market forward is the expansion of bond ETFs, blockchains which now account for over one-third of the total assets under management. This trend is expected to persist, as fixed income securities offer attractive yields in the current low-interest-rate environment. However, the market is not without its challenges. A significant concern is the potential for transaction risks, particularly in illiquid securities. This risk can lead to price discrepancies between the ETF's net asset value and its market price, potentially resulting in losses for investors.
Additionally, market volatility and sudden price movements can exacerbate these risks, making it crucial for market participants to closely monitor market conditions and adjust their strategies accordingly. Companies seeking to capitalize on the growth opportunities in the market while mitigating transaction risks may consider focusing on liquid securities and implementing robust risk management strategies.

What will be the Size of the ETF Market during the forecast period?

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The exchange-traded fund (ETF) market continues to evolve, integrating advanced technologies and applications across various sectors. Machine learning algorithms enhance the investment process, enabling more precise index construction in fixed income ETFs. Currency ETFs leverage technology to offer real-time exposure to foreign exchange markets. Small businesses benefit from scalability and affordability, with increasing numbers turning to ETFs for diversified investment opportunities. Service providers and financial institutions collaborate to ensure financial market stability, offering innovative solutions for passive investing strategies, including index funds and index mutual funds.
The integration of artificial intelligence and blockchain technology further enhances ETF offerings, reducing transaction costs and improving security. The ongoing unfolding of market activities reveals evolving patterns in trade finance, international trade, and asset management. ETFs continue to adapt, providing investors with efficient and cost-effective investment vehicles.

How is this ETF Industry segmented?

The etf industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Fixed income ETF
  Equity ETF
  Commodity ETF
  Real estate ETF
  Others


Product Type

  Large cap ETFs
  Mega cap ETFs
  Mid cap ETFs
  Small cap ETFs


End-User

  Retail Investors
  Institutional Investors


Investment Type

  Active
  Passive


Distribution Channel

  Brokerage Platforms
  Direct Sales


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Switzerland
    The Netherlands
    UK


  Middle East and Africa

    UAE


  APAC

    China
    Japan
    South Korea


  South America

    Brazil


  Rest of World (ROW)

By Type Insights

The fixed income etf segment is estimated to witness significant growth during the forecast period.

In the dynamic securities markets of 2024, the fixed income Exchange-traded fund (ETF) emerged as a leading investment choice. This type of ETF, which invests in various fixed-income securities like corporate, municipal, and treasury bonds, is traded on a centralized stock exchange. In contrast, most corporate bonds are sold through bond brokers, limiting bond buyers' exposure to the stock exchange. Fixed income ETFs, however, provide extensive exposure, enabling investors to participate in the stock exchange's activity. These ETFs employ various technologies, such as Optical Character Recognition and Machine Learning, to ensure efficient trade processing and risk management.

Additionally, the integration of Blockchain technology enhances security and transparency. Fixed income ETFs cater to diverse investor needs, including small businesses seeking scalability and financial institutions aiming for financial market stability. The market offers various categories, such as Government Bond ETFs, which invest in government securities, and Currency ETFs, which provide exposure to foreign currencies. Furthermore, Real Estate ETFs, Commodity ETFs, and Alternative Trading Funds expand the investment universe. Service providers play a crucial role in facilitating these investment solutions, ensuring affordability through passive investing strategies and competitive transaction costs. Trade agreements and internati