Exchange-traded funds (ETFs) experienced a historic quarterly inflow of $501 billion, marking the largest in history. This surge has propelled U.S.-listed ETFs to surpass $10 trillion in assets under management (AUM) by the end of September 2024, according to State Street. ETFs now account for approximately 7% of the stock market, with projections suggesting this could rise to 20% by 2030. This influx is part of a broader trend of increasing investment in ETFs, which have seen significant growth over the past 25 years. Additionally, global quarterly flows into ETFs have smashed previous records, with investors injecting half a trillion dollars into these vehicles over the past three months. U.S. money-market funds have also hit an all-time high of $6.46 trillion in AUM, driven by continuous liquidity inflows.