史上最快！ETF，6万亿了！
Xin Lang Cai Jing·2025-12-27 11:30

Core Insights - The domestic ETF market in China has reached a historic milestone, surpassing 6 trillion yuan for the first time, marking a significant transformation in the financial market [1][3] - The growth of the ETF market is driven by a combination of stock ETFs, bond ETFs, and cross-border ETFs, with stock ETFs being the primary contributor to the increase [5][6] Group 1: ETF Market Growth - As of December 26, 2025, the domestic ETF market reached 6.03 trillion yuan, a 62.6% increase from the beginning of the year, with a net increase of 2.29 trillion yuan during the year [1][6] - The ETF market has rapidly crossed significant thresholds, achieving 4 trillion yuan in 204 days, 5 trillion yuan in 131 days, and 6 trillion yuan in just 122 days, setting a record for the fastest growth between trillion yuan milestones [1][3] Group 2: ETF Types and Contributions - Stock ETFs account for 63.8% of the total ETF market, with a scale of approximately 38.47 trillion yuan, contributing over 40% of the total market increase this year [5][6] - Bond ETFs have seen a remarkable growth of 6.31 trillion yuan, representing a 27% contribution to the overall market increase, while cross-border ETFs have doubled in size to 9.39 trillion yuan, contributing 22.48% [6][20] Group 3: ETF Issuance and Innovation - A record 352 new ETFs were established in 2025, with a total fundraising of 263.59 billion yuan, marking a doubling in both the number and scale of new issuances compared to the previous year [8][10] - The ETF market has become a crucial tool for market stability, with significant participation from institutional investors, including insurance and pension funds, which have increased their ETF allocations [11][20] Group 4: Investment Trends - The trend towards index investing has intensified, with over 1.16 trillion yuan flowing into ETFs as investors seek to align with market performance rather than individual stock selection [16][30] - The top ten ETF managers account for 69% of the market's growth, highlighting a "winner-takes-all" effect in the industry, with leading firms like Huatai-PB and E Fund showing significant increases in their ETF management scales [24][26]