US ETF inflows are running at record levels: US ETFs have attracted +$852 billion in inflows year-to-date, the largest for any year in history. Inflows are now running +33% above the 2025 pace, on track for their 3rd consecutive annual increase. This means investors have poured a net +$8.5 billion on average per trading session into ETFs this year. By comparison, the equivalent figure stood at $2.2 billion in 2023, -74% below today's level. At the current pace, US ETF inflows will exceed $1 trillion over the next 18 trading sessions. Investor demand for ETFs has never been stronger.(The Kobeissi Letter)