Core Insights - In June 2025, a total of 245 ETF funds experienced net buying from major funds, while 298 ETF funds faced net selling. Notably, 86 ETF funds had net purchases exceeding 10 million yuan, with the Ten-Year Treasury ETF (511260) leading with a net inflow of 3.234 billion yuan [1][3][5]. Group 1: Major Net Buyers - The top five ETFs with the highest net buying amounts include: 1. Ten-Year Treasury ETF (511260) with 3.233 billion yuan 2. National Development ETF (159650) with 1.521 billion yuan 3. 0-4 Year Local Debt ETF (159816) with 1.093 billion yuan 4. Treasury ETF (511010) with 909.9 million yuan 5. Hong Kong Innovative Drug ETF (513120) with 848.5 million yuan [1][3][5]. Group 2: Major Net Sellers - A total of 104 ETFs experienced net selling exceeding 10 million yuan, with the top five being: 1. Credit Bond ETF Guangfa (159397) with 522 million yuan 2. Credit Bond ETF (511190) with 480 million yuan 3. A500 Index ETF (159351) with 419 million yuan 4. Hang Seng Technology Index ETF (513180) with 334 million yuan 5. Shanghai 50 ETF (510050) with 306 million yuan [5][7][9]. Group 3: Continuous Net Buying - Over the recent period, 168 ETFs have seen continuous net buying, with the leading ones being: 1. Entrepreneur Large Cap ETF (16 days) with 144 million yuan 2. Ten-Year Local Debt ETF (12 days) with 4.342 billion yuan 3. CSI 2000 ETF (12 days) with 341 million yuan 4. National Development ETF (11 days) with 1.689 billion yuan 5. Biotechnology ETF (11 days) with 23.4 million yuan [11][13]. Group 4: Continuous Net Selling - A total of 101 ETFs have experienced continuous net selling, with the top five being: 1. Transaction Currency ETF (13 days) with 32.37 million yuan 2. Bank ETF Preferred (9 days) with 20.5 million yuan 3. Dividend Low Volatility ETF (8 days) with 46.67 million yuan 4. CSI A500 ETF Morgan (7 days) with 123 million yuan 5. Data ETF (7 days) with 17.04 million yuan [15][16]. Group 5: Recent Trends - In the last five days, 62 ETFs have seen net buying exceeding 100 million yuan, with the top five being: 1. Credit Bond ETF Guangfa (159396) with 5.728 billion yuan 2. Credit Bond ETF (511190) with 5.450 billion yuan 3. Ten-Year Treasury ETF (511260) with 4.624 billion yuan 4. National Development ETF (159650) with 4.336 billion yuan 5. 5-Year Local Debt ETF (159972) with 4.034 billion yuan [18][20]. - Conversely, 19 ETFs have seen net selling exceeding 100 million yuan, with the top five being: 1. Yin Hua Daily ETF (511880) with 5.750 billion yuan 2. Hua Bao Tian Yi ETF (511990) with 3.822 billion yuan 3. Credit Bond ETF Tian Hong (159398) with 2.705 billion yuan 4. A500 ETF Fund (512050) with 825 million yuan 5. Shanghai Company Bond ETF (511070) with 823 million yuan [22][24].

Group 1 - The core viewpoint is that the credit bond ETF Guangfa has shown significant performance with a 0.03% increase, high liquidity, and record scale and shares, indicating strong market activity [1] - The credit bond ETF Guangfa has achieved a turnover rate of 116.35%, leading among similar products, with a total transaction volume of 4.702 billion yuan [1] - The latest scale of the credit bond ETF Guangfa reached 4.131 billion yuan, marking a new high since its establishment, with shares totaling 41.1177 million, also a recent peak [1] Group 2 - The credit bond ETF Guangfa has seen continuous net inflows over the past 10 days, with a maximum single-day net inflow of 171 million yuan, totaling 724 million yuan in net inflows [1] - The deep Shenzhen benchmark market-making credit bond index reflects the operational characteristics of the deep market credit bond market, with the top ten weighted stocks accounting for 8.59% of the index [1] - Longjiang Fixed Income suggests that the market logic is gradually returning to fundamental verification, with external shocks having a marginal weakening effect [2]