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. There was also a further $12.5bn added to US equity ETPs during July. There was also a shift towards quality, which registered the second consecutive month of inflows, while value ETPs had a second month of outflows. 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). Long duration flows turned positive for the first time since April, the second positive month since August 2025.