Related: 3 Best & Worst Performing ETFs 2017

Similarly, rival Vanguard Group has attracted robust investor inflows as well as more increasingly look to low-cost products to gain market exposure. The two firms combined now manage about $10.7 trillion in assets.

In its latest quarterly review, BlackRock revealed it had attracted a net $96.1 billion in new investor money over the third quarter, more than half of which went into iShares ETFs, which helped contribute to its better-than-expected quarterly earnings result.

With the ongoing demand of ETFs steadily increasing and the rising usage of ETFs as a core component of many investment portfolios, the ETF industry and others associated with the rise of ETFs may continue to grow.

Meanwhile, investors who are interested in tapping into the rising growth story of the ETF industry can look to the ETF Industry Exposure & Financial Services ETF (NYSEArca: TETF) as a way to play ETF providers. TETF tries to reflect the performance of the Toroso ETF Industry Index, which tracks publicly-traded companies that directly or indirectly provide services or support to ETFs, including management, servicing, trading or sales of ETFs.

These companies include ETF sponsors; asset managers; index providers; broker-dealers; securities exchanges; and service providers, such as custodians, transfer agents, and administrators, according to the prospectus. The ETF also includes a 6.6% tilt toward BlackRock, along with other companies heavily involved in the ETF industry like WisdomTree Investments 7.1%, Invesco 6.4%, MSCI 6.3%, Charles Schwab 6.3% and S&P Global 6.2%, among others.

For more information on ETFs, visit our ETF Performance reports category.