Record-breaking flows into exchange-traded funds may be reshaping markets in ways that even the Federal Reserve can’t control. New data show U.S.-listed ETFs have become a dominant force in capital markets. According to a Friday press release by ETFGI, an independent consultancy, assets invested in U.S. ETFs hit a record $12.19 trillion at the end of August, up from $10.35 trillion at the close of 2024. Bloomberg, which highlighted the surge on Friday, noted the flows are challenging the traditional influ ...