The U.S. ETF industry’s hottest product is no longer just a blockbuster fund, it’s the copycat.
A record 1,084 ETFs had launched by mid-July, already within striking distance of 2025’s full-year record of 1,161, per Morningstar. With U.S.-listed ETF inflows on pace to reach $2.3 trillion this year, as estimated by State Street, issuers are racing to capture the next winning investment theme before rivals do. And interestingly, a successful ETF doesn’t just attract assets, it spawns an entire category.
