The US ETF industry is having a historic year: US-listed ETFs have attracted a record $1.4 trillion in net inflows so far in 2025. This surpasses the previous full year record by +$300 billion and is more than double the 2023 figure. Furthermore, ETF trading volume is up to a record $57.9 trillion year-to-date, +$630 billion higher than 2024's total. On top of this, the number of ETF launches in 2025 is up to 1,100, an all-time high, and +123% more than 2023 levels. The last time all metrics saw a record in a single year was in 2021. Investor demand ETFs is at record highs.(The Kobeissi Letter)