The exchange-traded product market reached $1.72 trillion of assets at the end of February, up 12.8 percent year to date, according to the ETF Landscape report issued by the BlackRock Investment Institute.

Combined inflows of $52.4 billion for January and February were 111 percent higher than the $24.8 billion recorded during the first two months of 2011, the report said. The market attracted $18.4 billion in net new assets in February, up 69 percent from a year ago. In January, the market pulled in $ 34.1 billion in net new assets.

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