ETF trading volume is exploding: US-listed ETF trading volume is up to ~$7.8 trillion so far in March, the highest monthly total on record. This exceeds the March 2020 pandemic volume by $1.5 trillion. Even excluding the S&P 500 ETF, SPY, the Nasdaq 100 ETF, QQQ, and the Russell 2000 ETF, IWM, volume stands at ~$5.4 trillion, an all-time high. Meanwhile, US-listed ETFs have posted 47 consecutive monthly inflows, the longest streak on record. By comparison, the previous record streak was 31 months, set in 2020-2021. As a result, total US-listed ETF assets are up to $13.5 trillion, an all-time high. The US ETF industry has never been bigger.(The Kobeissi Letter)