Core Viewpoint - The first batch of 10 Sci-Tech Bond ETFs launched on July 17 saw overwhelming demand, with total trading volume exceeding 80.9 billion yuan on the first day, indicating strong market interest in these financial products [1][5]. Trading Performance - The trading volumes for individual Sci-Tech Bond ETFs were as follows: Penghua ETF at 18.36 billion yuan, Jiashi ETF at 15.73 billion yuan, and Fuguo ETF at 11.88 billion yuan, among others, with turnover rates ranging from 98.75% to 612.17% [1][3]. - The total net inflow into the bond ETF market on July 17 was 49.41 billion yuan, with the 10 Sci-Tech Bond ETFs accounting for 47.49 billion yuan, representing 96.12% of the total inflow [5]. Fund Size and Growth - The combined scale of the 10 Sci-Tech Bond ETFs reached 76.52 billion yuan, a significant increase of 1.64 times compared to the initial fundraising size of 28.99 billion yuan [5]. - The net inflow for individual ETFs included: Huaxia ETF with 11.22 billion yuan, Penghua ETF with 8.00 billion yuan, and Jiashi ETF with 7.93 billion yuan, contributing to their respective total sizes [7]. Market Context and Policy Support - Since March 2025, policies have been implemented to accelerate the construction of a "Tech Board" in the bond market, supporting the issuance of technology innovation bonds [9]. - As of June 2025, a total of 3,157 Sci-Tech bonds had been issued, with an issuance scale of 3.2675 trillion yuan, indicating a robust growth in this segment [9]. Investment Characteristics - The underlying assets of the Sci-Tech Bond ETFs are directly linked to national strategic industries, with bonds from leading companies like Ningde Times and BYD, which are expected to improve in credit quality and valuation as industry penetration increases [10]. - The ETFs are positioned as low-volatility tools that allow investors to benefit from technological dividends while maintaining relatively stable returns [10]. Future Outlook - The rapid launch of Sci-Tech Bond ETFs and the anticipated inclusion of these ETFs in the repurchase pledge library are expected to enhance their strategic allocation value for institutional investors [9][10]. - The market is expected to see continued growth driven by policy support and the increasing participation of financial institutions in the issuance of Sci-Tech bonds [11].