股票ETF上周净流入超400亿，科创50ETF罕见“吸金”

Market Overview - The market experienced rapid rotation of hotspots in the first two trading days after the holiday, with a noticeable pullback in growth style and a counter-trend rise in value style. The Wind All A Index fell by 0.36%, while the Shanghai 50, CSI 300, and CSI 1000 indices dropped approximately 0.47%, 0.51%, and 0.54% respectively. The National Value Index increased by about 1.52%, whereas the National Growth Index decreased by around 1.41%. The ChiNext Index and the Sci-Tech 50 fell by approximately 3.85% and 2.85% respectively [1]. Fund Flows - Over the two trading days during the National Day holiday, more than 40 billion yuan of net inflow was recorded in the ETF market, with stock ETFs seeing a net inflow of 40.6 billion yuan and cross-border stock ETFs a net inflow of 2.48 billion yuan. Specific indices such as the Sci-Tech 50, Sci-Tech Chips, CS Battery, Securities Companies, and New Energy Batteries saw net inflows of 5.195 billion yuan, 4.173 billion yuan, 3.597 billion yuan, 3.410 billion yuan, and 3.052 billion yuan respectively. Conversely, the CSI A500, CSI 1000, and other indices experienced net outflows of -6.424 billion yuan, -1.113 billion yuan, and -1.006 billion yuan respectively [2][4]. ETF Performance - From September 29 to the previous Friday, the equity market showed a divergence in performance, with small-cap value styles outperforming. The average return of actively managed equity funds was 1.08%, while short-term bond funds and medium to long-term bond funds had average returns of 0.09% and 0.10% respectively. The market for convertible bonds also showed positive returns [12]. Notable ETF Inflows and Outflows - The top ETFs with significant net inflows included the Sci-Tech Chip ETF (3.061 billion yuan), Sci-Tech 50 ETF (2.766 billion yuan), and CSI 300 ETF (2.763 billion yuan). In contrast, the A500 ETFs from various fund companies experienced notable net outflows, with the A500 ETF from Huatai-PineBridge seeing a net outflow of -2.173 billion yuan [6][10]. International Developments - Luxembourg's sovereign wealth fund has invested 1% of its assets into a Bitcoin ETF, marking it as the first national fund in the Eurozone to do so. The fund's total assets are approximately 730 million USD, primarily invested in high-quality bonds [20]. - JPMorgan estimates that the Solana ETF could attract around 1.5 billion USD in its first year, which is about one-seventh of the expected inflow for Ethereum ETFs. Additionally, BlackRock's Bitcoin ETF has surpassed 800,000 Bitcoins in assets under management, valued at around 100 billion USD [20].