(Bloomberg) -- It was a December to remember for U.S. ETFs as a record $62 billion flooded in last month.

Yet, the rising popularity of ETFs masks the rising number of funds that aren't making the grade. Liquidations and delistings reached 98 in 2016, an all-time high, with funds from BlackRock and State Street among those getting the ax -- even as other products from the money managers led inflows.

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