Exchange traded funds (ETFs) might finally have reached the big time.

Matthew Hougan for Index Universe points out that not only was Monday a big day for ETFs, as they were the three top traded securities in the world, but every day is pretty much ETF Day.

On Wednesday, ETFs took four of the top six spots on the most-traded securities list. Have a look:

  1. SPDRs (SPY)
  2. Lehman Brothers (LEH)
  3. Financial Select Sector SPDR (XLF)
  4. Washington Mutual (WM)
  5. The Cubes (QQQQ)
  6. iShares Russell 2000 (IWM)

Hougan also notes that while assets in ETFs are kind of flat this year, trading volume in them is on pace to double. The volume for 2007 has already been topped, and it’s only early September.

The volume increase has a lot to do with the volatility in the markets, but it also has to do with the fact that ETFs are simply becoming the “go-to” product for traders and they’re changing the way Wall Street operates.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.