Core Insights - The 351 exchange strategy, allowing investors to defer or avoid capital gains taxes, is gaining traction with new ETFs being launched, including the Cambria Global EW ETF (GEW) which attracted $150 million prior to its debut [1][2] - Cambria Investment Management has introduced three 351 exchange ETFs, with the previous two, Tax Aware ETF (TAX) and Endowment Style ETF (ENDW), raising $30 million and $100 million respectively before launch [1][2] - The strategy has drawn attention from both supporters and critics, with legislative proposals being introduced to limit such asset transfers, although the likelihood of passing is low [2] ETF Market Dynamics - The 351 exchange ETFs are becoming more popular, with at least four currently available, including the $476 million Alpha Architect US Equity ETF (AAUS) launched in July [3] - Cambria plans to launch another ETF, the US Equal Weight ETF (USEW), in December, while Alpha Architect is also set to introduce the US Equity 2 ETF (AAEQ) in the same month [3] - The industry anticipates significant growth in assets in the coming months, with expectations of multiples in asset inflows compared to current figures [2]