BREAKING: US ETF inflows have crossed above +1.0 trillion in 2025, the highest YTD total in history. Inflows are now running ~3.5x above the usual seasonal average every month. Flows are now on track to exceed +1.25 trillion in 2025 for the first time. By comparison, the full-year record in 2024 was +1.1 trillion. Meanwhile, over 800 new ETFs have launched this year, already surpassing the 2024 record. The ETF boom is accelerating.(The Kobeissi Letter)