US ETF activity is reaching unprecedented levels: Weekly trading volume in US-listed ETFs jumped to $2.2 trillion last week, the 2nd-highest in history. This is +215% above the weekly average in 2023 and the first half of 2024. This also follows $13 trillion in cumulative ETF volume recorded in January and February, the strongest start to a year on record. By comparison, the previous high for this period was $10 trillion in 2022. As a result, ETF trading now reflects more than 30% of total US market volume for the first time on record. The US ETF industry has never been bigger.(The Kobeissi Letter)