Following three months of decline that began in the fall of 2008, assets invested in exchange traded funds grew by 11.9% in December 2008, or $56.6 billion, according to State Street Global Advisors, citing data from Bloomberg. State Street said large-cap ETFs and international funds accounted for much of the increase. As of December 31, there was $533 billion invested in ETFs in the U.S. through 22 ETF managers.

There were 13 new ETFs launched in December, State Street said in a release January 23, while one ETF was liquidated.

As for State Street itself, $70 billion in combined net flows found their way into the SPDR family of ETFs during the full year, raising total assets in SPDRs by $2 billion to $160.1 billion by year-end.

As for market share by ETF managers, the top three players–Barclays Global, State Street, and Vanguard–accounted for 86.8% of the total U.S.-listed ETF market.