ETF Inflows & Outflows
Performance Leaders & Laggards
Source: ETF Action; flows and performance data as of 10/30/25; performance data excludes leveraged and inverse products
Weekly ETF Reads
Your Private Credit ETF Crash Course by Conor MacWilliams
“Opinions vary widely on what should be considered private credit and if the ETF wrapper is even the correct vehicle for accessing whatever that currently nebulous term is.”
ETF Product Innovation That Matters by Cinthia Murphy
“At this pace, we could easily end the year with 1,000 new ETFs fresh off the presses.”
(Note: On last week’s ETF Prime, Cinthia and I discussed several of the latest ETF launches in depth. You can find the video further down in this post.)
Options Pros See Opportunity in Retail-Aimed Structured Products by Bernard Goyder
“Not to bad mouth some products, but I think there’s even some misselling.”
Salim Ramji adds final late appeal to shareholders of two Vanguard index ETFs to re-classify them as ‘non-diversified’ — to keep them diversified, but not ‘synthetically’ by Brooke Southall
“Thanks to today’s market concentration—think mega-cap health care and financial stocks—those index funds are at risk of violating that technical definition of diversification.”
ETF issuers double down on active product development as flows surge by Leo Almazora
“87% of ETF issuers surveyed are currently developing transparent active ETFs.”
Bitwise’s Solana ETF Debuts With 7% Yield & Bold Staking Strategy by Sumit Roy
“Through a partnership with Helius, a leading Solana infrastructure provider, Bitwise operates a dedicated validator called Bitwise Onchain Solutions, which will stake all of the ETF’s Solana holdings.”
ETF Post of the Week
The first U.S.-listed ETF offering 100% direct exposure to solana launched this past week – alongside the first-ever ETFs for litecoin and HBAR. The rollout surprised many observers who assumed new crypto ETF approvals were on pause during the government shutdown.
The Bitwise Solana Staking ETF (BSOL) made its debut on Tuesday, joined by the Canary Litecoin ETF (LTCC) and Canary HBAR ETF (HBR).
In the post below, Greg Xethalis, General Counsel at Multicoin Capital, offers an excellent breakdown of how these issuers gained a first-mover advantage by bringing these products to market ahead of competitors (click the post to read the full thread).
My quick take? A sharp, forward-thinking legal team can be a major differentiator for ETF issuers – especially in the fast-evolving crypto ETF landscape.
OK, how did we go from Gov Shutdown (probably) means no ETFs to ETFs coming tomorrow? A break it down thread.
— Greg Xethalis (@xethalis) October 27, 2025
First, Bitwise now has all five green check marks ✅ below. https://t.co/GPBuEWhJze
ETF Chart of the Week
An ETF “Triple Crown” in 2025? Bloomberg’s Eric Balchunas points out that ETFs are on pace to break records across all three key measures of industry growth: inflows, launches, and trading volume.
That combination is rare. As Eric notes, trading activity typically spikes during down markets, which usually dampens both new launches and inflows.
In short, the ETF industry is currently running like Secretariat.
As an aside, Eric will join me on next week’s ETF Prime to discuss this and go all around the world of ETFs!
Source: Bloomberg’s Eric Balchunas
ETF Prime Podcast
Last week’s ETF Prime featured Aniket Ullal, Head of ETF Research & Analytics at CFRA, highlighting the ETF trades that have and haven’t worked in 2025. Cinthia Murphy, Investment Strategist at VettaFi, explored recent ETF launches, including the Roundhill Meme Stock ETF (MEME), Defiance Trillion Dollar Club Index ETF (TRIL), and ARK DIET Q4 Buffer ETF (ARKT).
Crypto Prime Podcast
Gabor Gurbacs, Founder of Pointsville, joined me on last week’s Crypto Prime to explain how his firm supports leading financial and crypto companies with end-to-end infrastructure for real-world asset tokenization. He also discussed the benefits, macro trends, and future outlook for tokenization.
