BY DAISY MAXEY

Assets in U.S.-listed exchange-traded funds and exchange-traded products have surpassed the $1 trillion milestone for the first time, according to BlackRock Inc.’s research and implementation strategy group.

The combined assets in U.S.-listed ETFs and ETPs reached $1.027 trillion late Thursday, BlackRock said. That includes 894 ETFs with assets of $887.2 billion from 28 providers on two exchanges and 185 ETPs with assets of $115.5 billion from 20 providers on one exchange, it said.

ETFs are index-based open-ended funds that can be bought and sold on a stock exchange. ETPs include other exchange-traded product structures, such as trusts, partnerships, commodity pools …