Group 1 - In the first half of the year, several individual investors frequently appeared in the top ten holders list for newly launched ETFs, with some "bull investors" accumulating over 50 million yuan in subscriptions [1][3] - High-net-worth individual investors may serve as "supporting funds" for the initial offerings of certain ETF products, reflecting a trend in the industry [1][3] - Notable investors such as Lou Jianwei and Liu Xiaorong have participated in at least nine new ETF subscriptions, with Lou Jianwei consistently subscribing each month from January to June [3] Group 2 - Some "bull investors" have quickly exited after the ETFs were listed, indicating a potential strategy of short-term gains [3] - There is a suspicion that some of these high-net-worth individuals may actually be nominal accounts for private equity funds, participating under personal names for liquidity services [3] - The growing popularity of passive investment strategies has led more high-net-worth investors to turn to ETFs, attracted by their risk diversification and low fees [3]