In 2024, the U.S. exchange-traded fund (ETF) market is experiencing unprecedented growth, with a record number of new ETFs being launched. Data from Morningstar Direct indicates that an average of 50 new ETFs have been introduced each month this year, surpassing the monthly averages of 48 in 2023 and 38 in 2022. This surge is part of a broader trend, as global ETF flows have reached $911 billion year-to-date, positioning the market to potentially break its annual record of $1.2 trillion. Notably, active mutual funds have seen significant outflows, totaling $220 billion year-to-date, while passive ETFs have attracted $284 billion in inflows. Active ETFs have also gained traction, with $48 billion in inflows reported. The increasing contribution from non-U.S. countries, which now account for nearly 40% of total ETF flows compared to 25% in 2021, further underscores the changing landscape of investment preferences.