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JPMorgan and BUX Partner to Deliver Active ETF Portfolios to Europe

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Business Honor - JPMorgan, BUX Bring ETFs to Europe

Business Honor
08 August, 2025

New alliance targets retail investors with affordable, expert-designed model ETF portfolios

In a strategic move to expand its presence in Europe’s growing retail investment market, JPMorgan Asset Management has announced an alliance with the Dutch online broker BUX. The partnership will provide European retail investors with customized model portfolios constructed from JPMorgan's active exchange-traded funds (ETFs). The portfolios will be made available via BUX's subscription service, BUX Prime, for a flat monthly charge of €7.99 ($9.10). JPMorgan's multi-asset solutions group designed the portfolios, which use over a dozen active ETFs. Assets must be at least €20,000 ($23,120) under BUX Prime for the investor to enjoy a lower effective fee than traditional percentage-based management fees.

The step is designed to bring high-net-worth services like discretionary fund management to the masses. The partnership puts the platform in competition with competitors like Scalable Capital and Trade Republic, which have passive ETF investment plans, Yorick Naeff, BUX CEO, says. The European active ETF market is expected to expand considerably — from less than $100 billion today to $1 trillion by 2031, HANetf predicts. JPMorgan and BUX with this cooperation aim to attract investors who opt for actively managed rather than passive strategies.

While U.S. active ETFs are widely available to retail investors directly, the European market has long been dominated by intermediaries like banks and wealth managers. This partnership represents a move toward direct-to-retail digital distribution in Europe. Through the pairing of JPMorgan's investment acumen and BUX's digital platform, the alliance seeks to open up active investing to more retail investors on the continent by making it more accessible, affordable, and personalized.