1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - Roundhill issued a series of weekly leveraged + dividend ETFs, providing 1.2 times the weekly returns of individual stocks and adopting a weekly dividend model, with a total of 10 products in the series [2][8]. - The scale gap of S&P 500 ETFs continues to widen. Vanguard's S&P 500 ETF has significantly led in inflows in the past two weeks, with its current scale exceeding $680 billion, leading State Street's product by nearly $80 billion and BlackRock's product by over $100 billion [2][13]. - Technology ETFs continue to rebound. Since the beginning of this year, the S&P 500 has risen less than 2%, while the technology sector has led all sectors. Since May, many products have rebounded by more than 10%, and semiconductor ETFs have rebounded by more than 20% [2][16]. - In April 2025, the total amount of non - money public funds in the United States was $21.06 trillion, a decrease of $0.12 trillion compared to March. From June 4th to June 11th, domestic stock funds in the United States had a net outflow of approximately $11.2 billion, while bond products continued to have inflows of over $8 billion [2][21]. 3. Summary by Relevant Catalogs 3.1 US ETF Innovation Products: Roundhill Issues Weekly Dividend Series Products - Last week, there were 14 newly issued products in the United States. Roundhill issued a series of weekly leveraged + dividend ETFs, respectively linked to Meta, Netflix, Amazon, Berkshire, and Robinhood [7][8]. - Tortoise transformed an over - the - counter energy fund into an ETF, which invests in both stocks and bonds of energy - related enterprises and may use option strategies [7]. - Global X issued a corporate bond ETF using Wealthspot's quantitative model and deep neural network [8]. - Nicholas issued a digital currency - related product, investing in digital currency - related stocks, options, and ETFs [8]. - Rainwater Equity issued its first ETF product, mainly investing in leading enterprises with high buyer loyalty [8]. - AllianceBernstein issued an emerging market stock ETF, selecting stocks based on good long - term fundamentals and reasonable current valuations [9]. - WisdomTree issued an anti - inflation ETF, adopting a commodity long - short strategy based on momentum and covering 18 commodities [9]. 3.2 US ETF Dynamics 3.2.1 US ETF Funds: The Scale Gap of S&P 500 ETFs Continues to Widen - Last week, US stock ETFs returned to significant inflows, with a single - week inflow of over $30 billion, and international stock products also had inflows of over $10 billion [2][10]. - According to Bloomberg data, Vanguard's S&P 500 ETF has led in inflows in the past two weeks, with its scale exceeding $680 billion, leading State Street's product by nearly $80 billion and BlackRock's product by over $100 billion. Vanguard's product has had continuous inflows this year, State Street's product has had continuous outflows, and BlackRock's product had inflows in April and outflows after May [2][13][15]. 3.2.2 US ETF Performance: Technology ETFs Continue to Rebound - Since the beginning of this year, the S&P 500 has risen less than 2%, while the technology sector has led all sectors, especially in semiconductor, cybersecurity and other sub - sectors. Since May, many products have rebounded by more than 10%, and semiconductor ETFs have rebounded by more than 20% [2][16]. 3.3 Recent Capital Flows of US Ordinary Public Funds - In April 2025, the total amount of non - money public funds in the United States was $21.06 trillion, a decrease of $0.12 trillion compared to March. The scale of domestic stock products declined by 0.88%, slightly more than the decline of stocks [21]. - From June 4th to June 11th, domestic stock funds in the United States had a net outflow of approximately $11.2 billion, while bond products continued to have inflows of over $8 billion [21].