Exchange traded funds are a rising star in the financial industry and have now accumulated over $3 trillion in assets under management.

Over July, U.S.-listed ETFs saw $23.4 billion in new investor money flowing in, which pushed assets under management in ETFs over the $3 trillion market, Bob Pisani reports for CNBC.

According to XTF data, there were 2,041 U.S.-listed ETFs with $3.065 trillion in assets under management as of the end of July.

ETFs have been a popular play this year as investors plunged into the market as the bullish conditions extend toward the ninth year. Last year ETFs had a record inflow of $287 billion for the entire 2016, and the ETF industry has already brought in $272 billion in inflows in just the first seven months.

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