ETF Debuts Set Record in September as Industry Hits $10T
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The ETF industry generated a record-breaking month for new product offerings in September, with 126 ETF debuts setting a new monthly high for 2024, according to CFRA Research’s ETF database.
This surge dwarfs August’s 38 debuts and brings the total number of ETF launches in 2024 to 508, according to etf.com data.
While new funds flooded the market, ETF closures remained relatively low. September saw 19 funds shuttering, up from nine in August, CFRA data shows. The year-to-date closures now stand at 156, based on etf.com data.
The disparity between launches and closures reflects the growing adoption of ETFs among investors. This trend aligns with the industry reaching a milestone, with U.S. ETF assets surpassing $10 trillion for the first time.
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New ETF Launches Target Fixed Income and Themes
Among the notable launches in September was a series of corporate bond ETFs from State Street Global Advisors. The firm introduced 10 new SPDR SSGA Corporate Bond ETFs, each targeting a specific maturity year from 2026 to 2034.
Read More: State Street Debuts Active Target Maturity Bond ETFs
The cryptocurrency theme continued to attract attention, with Roundhill Financial debuting the Roundhill Ether Covered Call Strategy ETF (YETH). This new fund comes as spot Ethereum ETFs have gained traction since their introduction in July.
In the thematic space, Themes ETFs launched three new products focusing on specific industries: the Themes Lithium & Battery Metal Miners ETF (LIMI), Themes Copper Miners ETF (COPA), and Themes Uranium & Nuclear ETF (URAN), CFRA data shows.
The closure list in September included several products from Amplify Investments, including the Amplify Inflation Fighter ETF (IWIN) and the Amplify Emerging Markets FinTech ETF (EMFQ). KraneShares also announced the closure of three ETFs, including its KraneShares S&P Pan Asia Dividend Aristocrats Index ETF (KDIV).
As the ETF industry celebrates the $10 trillion milestone, the pace of growth has accelerated. Bloomberg data shows that it took 14 years for the industry to grow from $1 trillion to $10 trillion in assets. This growth has been fueled by market gains, increasing investor adoption, and a shift from mutual funds to ETFs.
Read More: U.S. ETFs Hit $10T in Assets on Market Gains, Inflows