After being the exchange traded fund (ETF) leader for years, the United States has been surpassed by Europe as the largest ETF marketplace in the world, in terms of number of ETFs offered, according to a recent report.

According to Barclays Global Investors (BGI), Europe has nabbed the number one slot for market share within the ETF industry. By the end of July, Europe had 753 ETFs available, while the United States has 706 ETFs listed.

The size of assets under management remains highest in the United States, though. European assets stood at $183 billion at the end of July, while U.S. assets were at $581 billion.

Globally, ETFs are very close to the $1 trillion mark, with $862 billion in assets. That’s also an all-time record. There are 1,768 ETFs listed with 94 providers on 42 exchanges worldwide.

The numbers prove that ETFs are set to encroach upon mutual funds’ territory, thanks to their liquidity and ease of trading. Deborah Fuhr, global head of ETF Research & Implementation Strategy at BGI, says, “The global ETF industry has grown from nothing into a multi-billion sector in 16 years, and there are no signs that investor interest in ETFs is fading, despite the current market.”

For more stories about ETF assets and industry growth, visit our ETF performance reports category.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.