见证历史！刚刚，突破6万亿元大关！

Core Viewpoint - The ETF market in China has achieved significant growth, surpassing 6 trillion yuan in total scale, marking a milestone in its development [2][4][6]. Market Growth - As of December 26, the total scale of the ETF market reached 6.03 trillion yuan, an increase of 354.52 billion yuan from the previous trading day [4]. - The ETF market has seen a year-to-date growth of approximately 2.3 trillion yuan, the first time since 2004 that the annual increase has exceeded 2 trillion yuan [2][6]. - The market has consecutively broken through the 4 trillion, 5 trillion, and 6 trillion yuan thresholds within a short span, with the latest milestone achieved in just over four months [6]. Market Structure - Stock ETFs account for the largest segment of the market, with a total scale of 3.85 trillion yuan, but their market share has decreased from 77.38% at the end of last year to 63.78% [7]. - Bond ETFs and cross-border ETFs have experienced substantial growth, with current scales of 804.56 billion yuan and 938.91 billion yuan, respectively, reflecting year-on-year increases of 362.46% and 239.42% [7]. Fund Inflows - The total net inflow into the ETF market this year reached 1.33 trillion yuan, with bond ETFs, cross-border ETFs, and stock ETFs leading the inflows at 528.57 billion yuan, 429.63 billion yuan, and 239.79 billion yuan, respectively [9]. - Commodity ETFs also saw significant inflows, exceeding 100 billion yuan, with gold ETFs leading the category [13]. Competitive Landscape - The number of ETF management firms with over 100 billion yuan in assets has expanded to 16, highlighting a growing concentration of assets among leading firms [18][19]. - The top three firms—Hua Xia Fund, E Fund, and Huatai-PB—hold a combined ETF management scale of 2.48 trillion yuan, representing about 41% of the total market [21]. Product Development - The total number of ETFs in the market has surpassed 1,391, with 358 new products launched this year, indicating a strong trend towards passive investment strategies [22][23]. - Regulatory changes, such as the rapid registration mechanism for stock ETFs, have significantly improved product supply efficiency [23].