The US exchange-traded fund industry delivered a record-breaking performance in the first half of 2026. As of the end of the second quarter, the total assets under management for US-listed ETFs exceeded the $15 trillion threshold, with net inflows year-to-date surpassing $1 trillion. The full-year figure is on track to challenge a historic high of $2 trillion.

Data indicates a clear rebound in market risk appetite since the second quarter, with capital flows showing diversified characteristics. Over 30% of quarterly inflows entered fixed-income ETFs, led by corporate bond products from Vanguard and Schwab. Growth-oriented ETFs also regained favor, with the Schwab U.S. Large-Cap Growth ETF, Vanguard Growth ETF, and SPDR Portfolio S&P 500 Growth ETF each attracting over $2 billion this quarter.

Thematic ETFs were also notably active. Products related to memory chips, space, and US infrastructure development themes stood out during this thematic recovery. Meanwhile, leading broad-market ETFs are approaching new milestones. The Vanguard S&P 500 ETF has attracted $56 billion in inflows this year, with total assets nearing $960 billion, positioning it to potentially become the first trillion-dollar ETF.

However, the digital asset space presented a different picture. In June, US spot Bitcoin ETFs recorded net outflows of $4.06 billion, marking the highest monthly redemption figure since the products launched in January 2024. BlackRock's IBIT alone saw outflows of approximately $3.3 billion.

Overall, the ETF industry continued its unstoppable growth momentum in the first half of 2026. The total US ETF asset base crossed the $15 trillion mark in the second quarter, a figure that stood at just $7.5 trillion at the end of 2022. The S&P 500 index's approximate 18% gain in the first half added about $1.2 trillion in market value to equity ETFs. This appreciation, combined with sustained fresh capital inflows, jointly propelled the industry's scale to a new level.