In this section, authors comment on economic and financial topics.

Exchange traded funds (ETFs) were once synonymous with equity trackers. However, in the ten years since we entered the European market, the ETF landscape has changed dramatically in terms of available products, assets under management and ETF users.

At the time, many European clients were purchasing ETFs for the first time. Now, they are convinced of the value of this investment format. ETFs have also shed their earlier reputation as purely passive vehicles.

«This trend is an exciting growth opportunity for ETF issuers in Europe»

The fact that they are suitable for all types of investment strategies is just one of the reasons why ETFs have done more to level the playing field for investors than any other innovation in asset management.

As a result, acceptance among private investors has grown in recent years. While there is still room to catch up with the US market, this trend is an exciting growth opportunity for ETF issuers in Europe.

«ETF users are more curious than they were ten years ago»

Retail investors are not the only ones using ETFs. Private banks, independent asset managers and financial advisors can directly access institutional products to transform their client offering in a way they couldn't before.

ETF users are more curious and open-minded than they were ten years ago. Back then, ETFs were primarily used for large-cap equity allocation. Back then, few believed that non-market capitalization-weighted exposures could be viable investment options in an ETF.

«Investors are increasingly seeking access to a broader range of assets via ETFs»

There is no doubt that ETFs are important building blocks for asset managers today. While the majority of ETF assets are invested in products that track traditional benchmarks, investors are increasingly seeking access to a broader range of assets via the ETF structure.

More than a third of professional investors use ETFs to access alternative asset classes, including commodities and cryptocurrencies. This has markedly reduced earlier skepticism about the viability of non-equity exposure in the ETF format.

«The gap with the crypto sector has been bridged»

The impact of this wrapper can be seen in the global use of crypto ETPs. It has bridged the gap between traditional finance and this new asset class, as evidenced by the $20 billion that has flowed into Bitcoin ETPs this year.

Embedding Bitcoin in an exchange-traded product has democratized access to the world's largest cryptocurrency. The success is due to the fact that Bitcoin represents something new for portfolios and there are fewer barriers to entry.

«The past ten years have shown that ETFs have a promising future ahead of them»

Innovation will remain a key priority in the future, as it focusses on creating added value for portfolios – a demand that is clear. A survey we conducted shows that 98 percent of European professional investors want more product innovation. Furthermore, 25 percent believe that innovative product development will be the most important trend driving the growth of European ETFs over the next ten years. This belief underpins our view that ETFs are the best vehicle for delivering innovation to investors.

The past ten years have shown us that ETFs have a promising future ahead of them. This will be reflected in increasing acceptance, greater choice for investors and continuous innovation on the part of issuers.

Alexis Marinof is Head of Europe at WisdomTree, an American asset manager with global operations.

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