U.S.-listed ETFs ended June with about $7.31 trillion in assets, up 5.1% from May, according to a report on U.S. monthly product trends from Cerulli Associates.
"Investor demand for ETFs continues to present itself within net flow data as the vehicle added more than $70 billion in positive net flows during June," the report said.
In an interview Thursday, Daniil Shapiro, director, product development at Cerulli, said greater use of ETFs by financial advisers as they become increasing comfortable with the structure has been a positive trend for ETF flows.
In addition to that, investors including financial advisers more recently have been using ETFs to reallocate to equity and fixed-income markets, "in order to capture the upswing that's taking place in markets right now," Mr. Shapiro said.
Invesco, the fourth-largest U.S. ETF manager, saw $7.7 billion of net inflows in June, the report said, citing Morningstar Direct data. That ranked it in third place behind Vanguard Group, which saw $21.5 billion of net inflows in June, and BlackRock's iShares, which had net inflows totaling $20.5 billion.
BlackRock's iShares was the top ETF sponsor by U.S. assets as of June with $2.4 trillion and a 32.9% market share. Vanguard ranked second with $2.1 trillion in assets and a 29.1% market share as of June. State Street Global Advisors ranked third with $1.09 trillion in assets and a 14.9% market share.
By comparison, Invesco ended June with slightly more than $400 billion in U.S. ETF assets and a 5.5% market share, the report said.
