Some of the biggest names in the mutual fund industry have so far seemed reluctant to really put their arms around exchange traded funds (ETFs).

A case in point is Fidelity, which has just one lone ETF: the Nasdaq Composite ETF (ONEQ).

But could it be time to celebrate? Pimco’s announcement that it would be getting into the ETF business has been greeted with equal parts excitement and more questions.

Jim Wiandt and Matt Hougan for Index Universe say that while it’s an exciting development, only time will tell whether this is just a testing of the waters or an all-out acceptance of ETFs by the mutual fund industry as more than a radical fringe investment.

Overall, Wiandt feels that Pimco’s step is a big deal for the ETF industry, but in the long run, it’s going to take some more big players to get serious about their ETF offerings.

For now, just wait and watch. This could be the dawning of a new era in investing…or it could be business as usual.

Tags: ONEQ