Investors are flooding into equity ETFs at a record pace: Average daily US equity ETF inflows surged to a record +$7.5 billion in the first 3 weeks of April. This is up +153% compared to the March average of +$2.9 billion. By comparison, the full year 2025 average was +$3.7 billion, meaning April is running at more than DOUBLE last year's pace. As a result, total US equity ETF inflows have exceeded +$100 billion since the March 30th bottom. Investors are pouring more capital into equity funds than ever.(The Kobeissi Letter)