Wall Street’s ETF Assets Hit $10 Trillion Milestone Amid Frenzy

Assets held by exchange-traded funds in the US hit $10 trillion for the first time as the investor-friendly products continue their relentless takeover of Wall Street.

A combination of inflows and market gains carried total assets over the milestone this week, according to data compiled by Bloomberg Intelligence. Investors have poured $691 billion into the funds this year, as US stock gauges have notched repeated records.

The $10 trillion now under management in American ETFs is the latest testament to how the easy-to-trade vehicles have transformed the investment landscape. Mutual funds have been bleeding assets as investors switch to the ...