Global ETF Inflows Surge to $128.1B in June: BlackRock
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Global exchange-traded fund inflows reached $128.1 billion in June 2024, marking the second-highest monthly inflows for the year and a significant increase from May’s $116.4 billion, according to BlackRock’s latest Global ETP Flows report.
Equity ETFs dominated the landscape, attracting $90 billion in new assets, according to the report. Fixed income flows moderated to $34.9 billion, while commodities notched their second consecutive month of inflows at $1.3 billion.
U.S. equity flows slowed to $51.2 billion, but emerging market equities saw increased interest. The report noted “a marked increase in Mexico and India equity ETP buying post-election.” European equity flows held steady at $2.5 billion.
In the EMEA-listed segment, emerging market preferences were clear: “India led, with $0.7B of inflows, while $0.4B was added to Mexico ETPs – the highest monthly inflows for EMEA-listed Mexico ETPs on record," the report said.
U.S. Treasurys Surging
In the fixed income space, rates products led with $12.5 billion in inflows, the report stated. U.S. Treasury ETFs continued to grow, through European rates products also saw continued buying.
“The vast majority of European rates buying went into blended maturity exposures, while UST ETP flows showed more of a preference for targeted duration exposure,” the report said.
Investment grade credit flows rose to their highest level since January at $7.8 billion, helping to offset flat high yield flows. Notably, “Eurozone IG flows rose to the highest level since February, at $1.4B, while US IG flows rose to $5.4B.”
Emerging market debt ETFs recorded their third straight month of inflows, adding $1.6 billion in June.
Gold ETPs experienced a second consecutive month of inflows for the first time in a year, attracting $1.3 billion. The report highlighted that these inflows “went entirely into EMEA-listed ETPs, with APAC-listed inflows and US-listed outflows netting out over the month.”
Investors showed renewed interest in silver ETFs, which had $300 million in inflows following two months of outflows totaling $1 billion, according to the report.