Global exchange-traded product (ETP) flows reached a record high of $362.2bn in July, well above the previous $326.6bn high hit in December 2025, according to recent research from BlackRock.
This was driven by a third month of continuous equity buying, as tech stocks continued to lead on sector flows.
“In contrast to May and June, when active ETP strategies captured the majority of inflows, July’s buying shifted decisively to index ETPs, which accounted for $53.6bn,” the report noted. There was also a further $12.5bn added to US equity ETPs during July.
However, there was also a growing anti-momentum allocation within ETP flows, as investors began to focus on concentration on their equity sleeves, according to the report.
“Regionally, European equity ($4.4bn) and Japan equity ($6.1bn) flows strengthened, while within developed market (DM) sectors, healthcare ($4bn) and financials ($4.1bn) posted meaningful inflows for a second consecutive month after negative sentiment bottomed out at the end of May.”
There was also a shift towards quality, which registered the second consecutive month of inflows, while value ETPs had a second month of outflows.
On a headline level, fixed income flows fell for the third straight month down to $64.8bn. That said, flows into rates ETP’s rose to $19.1bn in July, mostly due to a pick-up in US-listed Treasury flows ($15bn in July).
“Within rates, short duration flows rose to $19.8bn while long and intermediate-duration flows also picked up.”
Long duration flows turned positive for the first time since April, the second positive month since August 2025.
Finally, commodity flows into ETPs returned to positive territory, rising to $5bn in total.
See also: Global active ETF assets increase by more than a third in 2026
