- ETF filings have exploded, more than doubling from 2023 to 2024 and on pace to double again in 2025, while mutual fund filings remain stagnant.
- October 2025 alone saw 717 new ETF filings, surpassing the entire 2023 total by more than 100.
- The spike is fueled by a surge of single-stock ETFs that provide leverage, inverse returns, or option-income strategies tied to individual stocks.
- Not every filing will result in a fund launch, and those that do will face intense competition and rising pressure to cut fees—many of which currently exceed 75 bps.
