US-listed ETFs have pulled in more than $100 billion every month for 14 consecutive months, pushing total industry assets past $14 trillion. Active funds and spot Bitcoin ETFs are helping widen the pool of money, even as BlackRock, Vanguard and State Street's combined share of that flow slides from roughly 80% to about 55%.
US-listed exchange-traded funds have pulled in more than $100 billion every month for 14 consecutive months, pushing total industry assets past $14 trillion. Equity ETFs have been the primary magnet for that capital, while fixed-income funds have contributed steady inflows, and active strategies and spot Bitcoin ETFs are widening the pool of money chasing exchange-traded products.
The numbers behind the streak
Full-year 2025 net inflows reached nearly $1.5 trillion. The first half of 2026 alone brought in over $1 trillion, the strongest first-half performance ever recorded for the industry. February 2026 was a standout, with net inflows landing between $192 billion and $196.7 billion. April followed with $178 billion, including $139 billion from equity products alone.
By the end of February 2026, total US ETF assets had reached a record $14.28 trillion. Data from State Street and ETFGI shows the industry has posted positive inflows for somewhere between 41 and 46 consecutive months through early 2026.
Active and Bitcoin ETFs widen the pool
Active ETFs have gained ground alongside their passive counterparts. The approval and launch of spot Bitcoin ETFs in the US created a new on-ramp for investors who wanted digital asset exposure through familiar brokerage accounts.
BlackRock's grip loosens
That flood of capital is no longer concentrated among the industry's biggest names. The combined share of ETF inflows held by BlackRock, Vanguard and State Street — the so-called Big Three — has fallen from roughly 80% to approximately 55%. The trio still manages north of $30 trillion in assets between them.
In January 2026, US ETF inflows totaled an estimated $156 billion. Vanguard captured about $49 billion of that, while BlackRock's iShares platform pulled in roughly $19 billion. Nearly $88 billion, more than 56% of the month's total, went to firms outside the traditional power trio.
BlackRock is still growing in absolute terms: the firm reported $130 billion in total inflows in Q1 2026 and $192 billion in Q2. iShares ETFs accounted for over $5.4 trillion of BlackRock's roughly $14 trillion in assets under management by the end of 2025. Historically, the Big Three controlled approximately 74% of US equity ETF market share. The 55% flow share figure represents a meaningful dilution from the 80% level that prevailed in recent years.
Sources: Crypto Briefing, Crypto Briefing
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