NEW YORK, July 7, 2026, 14:03 (EDT)
- State Street Corporation NYSE:STT traded up 2.0% at $179.55 early Monday afternoon. The move follows a 3.1% jump the previous session, which pushed shares to a 52-week closing high.
- U.S.-listed ETF inflows topped $1 trillion in the first half, State Street Investment Management said, marking the first time that level was reached. The firm now sees inflows hitting $2.3 trillion in 2026.
- ETFs made up $1.94 trillion of State Street’s $5.62 trillion in assets under management at March 31, or 34.5%.
- BlackRock Inc NYSE:BLK is set to debut a Nasdaq-100 ETF this week, following State Street, which launched its own last month.
State Street Corporation NYSE:STT gained 2.0% to close at $179.55 Tuesday, pushing market cap to $50.8 billion. The move came in regular NYSE trade after the July 3 holiday shutdown. Shares touched an intraday high of $179.87, topping Monday’s 52-week closing mark of $175.96.
This wasn’t only about bank stocks. State Street outperformed Northern Trust Corp (NASDAQ:NTRS), the State Street SPDR S&P Bank ETF (NYSEARCA:KBE) and the SPDR S&P 500 ETF Trust NYSEARCA:SPY at the same point.
| Security | Google Finance ticker | Latest price | Day move | State Street gap |
|---|---|---|---|---|
| State Street Corporation | NYSE:STT | $179.55 | up 2.04% | — |
| Northern Trust Corp | NASDAQ:NTRS | $180.65 | down 0.27% | gap up 2.31 pct pts |
| State Street SPDR S&P Bank ETF | NYSEARCA:KBE | $69.22 | up 0.03% | gap up 2.01 pct pts |
| SPDR S&P 500 ETF Trust | NYSEARCA:SPY | $748.88 | down 0.32% | gap up 2.36 pct pts |
ETF inflows got a jolt from June’s $196 billion, enough to take this year’s running total past $1 trillion—something that’s “first time flows have crossed” that level in a first half, according to Matthew J. Bartolini at State Street Investment Management. Bartolini said in a note Monday that he now sees full-year 2026 flows reaching $2.3 trillion, blowing past last year’s $1.5 trillion record. SSGA
| U.S.-listed ETF flow category | 2026 YTD inflows | Share of total ETF inflows |
|---|---|---|
| Low-cost ETFs | $506 billion | 49% |
| Active ETFs | $398 billion | 39% |
| Bond ETFs | $300 billion | 29% |
| Remaining 2,000 ETFs | not stated | 12% |
That’s important for State Street because ETF balances are included in the figure investors are tracking ahead of second-quarter earnings. In Q1, State Street reported $1.940 trillion in ETF AUM, making up 34.5% of total AUM. Index strategies and solutions came in at $4.864 trillion, or 86.5% of total AUM. Management fees jumped 23% for the first quarter, mostly on higher markets and net inflows.
| State Street AUM mix, March 31 | Amount | Share of total AUM |
|---|---|---|
| ETF assets | $1.940 trillion | 34.5% |
| SMAs | $2.120 trillion | 37.7% |
| Other pooled assets | $1.560 trillion | 27.8% |
| Indexed strategies | $4.864 trillion | 86.5% |
| Active, alternatives, other | $175 billion | 3.1% |
| Cash | $581 billion | 10.3% |
Shares moved as investors looked again at State Street’s fee revenue. CEO Ron O’Hanley talked up record fee revenue, net interest income and total revenue last quarter. But he also warned last April that the macro and geopolitical picture was still uncertain.
BlackRock Inc NYSE:BLK is rolling out the iShares Nasdaq 100 ETF, going up against Invesco Ltd’s NYSE:IVZ QQQ and QQQM. State Street launched a similar Nasdaq-100 ETF last month, according to Reuters. BlackRock U.S. iShares chief Elise Terry said the new fund brings “access to the Nasdaq-100 with iShares ETFs.” Reuters
| Nasdaq-100 ETF race | Issuer | Ticker | Fee detail |
|---|---|---|---|
| SPDR Portfolio Nasdaq 100 ETF | State Street | QNDX | 0.10% |
| iShares Nasdaq 100 ETF | BlackRock | IQQ | 0.10% fee waived, going to 0.12% |
| Invesco QQQ Trust | Invesco | QQQ | 0.18% |
| Invesco Nasdaq 100 ETF | Invesco | QQQM | 0.15% |
State Street’s QNDX is part of its SPDR Portfolio ETF lineup, which reported around $433 billion in assets as of June 15. BlackRock’s new fund means the next issue is whether the surge in ETF demand will help State Street’s balances outpace the revenue drag from fee cuts.
A policy-driven flow channel is being considered. The U.S. Treasury said initial flows into Trump Accounts will be directed into State Street SPDR Portfolio S&P 500 ETF (NYSEARCA:SPYM) before allocation tools launch. The Treasury did not disclose near-term flow amounts in its notice.
State Street is set to release its Q2 numbers July 16 before the bell, and will hold a call at 11:00 a.m. ET. Shares at a new high raise the bar for any quarter that just meets estimates.
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