The value of European ETFs on loan more than doubled in 2009, according to the Securities Lending Yearbook 2009-10 recently published by Data Explorers. The number of ETFs available to borrow rose from just over 200 to more than 300 over the course of the year.

The report lists the iShares FTSE 250 ETF as having the highest average loan balance, followed by the Lyxor ETF DJ Euro Stoxx 50 and db x-trackers MSCI USA TRN Index ETF. iShares dominates the rankings with six of the top ten ETFs by average value on loan.

The growth in the European market was in contrast to the situation in the US, where the study reports that lending volumes were quite flat in 2009.