Source: Toroso Research
Clearly, exchanges and liquidity providers benefited from increased volatility and volume. Cinthia Murphy from ETF.com did a deeper dive into the various ETF industry sub-sectors in this article:
Tides Change But Growth Remains
Many of the macro market factors which have been tailwinds for ETF growth have shifted and now present challenges. Yet, growth continues in revenue, innovation, volume and assets. The tides may not always be in favor, but as long as ETFs are aligned with clients and provide innovations, we anticipate continued growth.
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