Assets in the sector remained broadly stable at €3.22tn, as monthly inflows were offset by capital losses mostly due to weaker equity market performance. European ETFs and exchange-traded commodities gathered €47.3bn in July, up from €36.8bn in June and taking year-to-date inflows to almost €266bn, according to a monthly report from Morningstar. “European ETF investors looked through July’s market volatility and remained focused on the themes that have driven flows throughout much of 2026,” said Jose Garcia-Zarate, senior principal at Morningstar. “Despite a softer month for US equities, money continued to flow into both global and US-focused equity exposures, reflecting investor conviction in the long-term AI and technology-led growth story. Instead, investors largely treated market weakness as a buying opportunity, continuing to allocate capital to growth-oriented exposures.