海外创新产品周报：特朗普媒体科技公司发行ETF-20260106

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - In the past week, there were 21 new ETF products issued in the US, with multiple managers launching series of products. The inflow of US ETFs was relatively stable, with domestic stock products' inflow exceeding international stocks again. Gold ETFs had outflows, while biopharmaceutical products performed excellently. In November 2025, the total amount of non - money public funds in the US increased, and the redemption pressure eased. From December 17th to 23rd, the outflow of domestic stock funds narrowed, while hybrid allocation products continued to have outflows and bond products continued to have inflows [1]. 3. Summary According to the Directory 3.1 US ETF Innovation Products: Trump Media & Technology Group Issues ETF - Last week, 21 new products were issued in the US, with multiple managers launching series of products. Tuttle Capital issued an options strategy product based on Magnificent 7, Trump Media & Technology Group issued 5 Truth Social ETFs and plans to issue digital currency - related products in the future. Opal Capital issued a high - concentration ETF and a disciplined US equity ETF. Founder ETF issued another ETF investing in founder - led companies. Innovator issued 4 two - way Buffer products, and Gabelli issued an ETF investing in the sports and live - event industry [6][7][9]. 3.2 US ETF Dynamics 3.2.1 US ETF Funds: Gold ETFs Have Outflows - In the past week, the inflow of US ETFs was relatively stable, with domestic stock products' inflow exceeding international stocks again. Vanguard S&P 500 ETF and State Street S&P 500 had certain inflows, and broad - based products of stocks and bonds were among the top in terms of inflow. Gold and silver ETFs had outflows. The recent fund fluctuations of S&P 500 ETFs remained at a high level, with Vanguard and State Street products having overall inflows and BlackRock's products having outflows [10][12][14]. 3.2.2 US ETF Performance: Biopharmaceutical Products Perform Excellently - In 2025, the US pharmaceutical sector performed well, especially in the biotech field, where many products had涨幅超过 25%, and State Street's products performed the best, with涨幅超过 35% [16]. 3.3 Recent Capital Flows of US General Public Funds - In November 2025, the total amount of non - money public funds in the US was $23.72 trillion, an increase of $0.03 trillion compared to October 2025. The S&P 500 rose 0.13% in November, and the scale of domestic stock products decreased by 0.15%, with the redemption pressure easing. From December 17th to 23rd, the outflow of domestic stock funds narrowed to around $20 billion, while hybrid allocation products continued to have outflows and bond products continued to have inflows [18].