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TETF - ETF INDUSTRY EXPOSURE FNCL SRVCS ETF News Story

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New ETF invests in industry close to home: ETFs themselves

By Trevor Hunnicutt 
    NEW YORK, April 20 (Reuters) - Exchange-traded funds have 
proliferated in niches ranging from cyber security to solar 
power and even marijuana. On Thursday, a new index fund launched 
that will let investors chase the growth potential of ETFs 
themselves. 
    The ETF Industry Exposure & Financial Services ETF (TETF) 
 TETF.P  comes to market after a record $375 billion poured into 
the funds globally last year. 
    ETFs are a basket of stocks, bonds or other assets traded by 
individual investors and institutions. They can be cheaper to 
own than competing products, such as mutual funds, from which 
they have taken market share. 
    The funds have become a central part of modern markets.  
    SPDR S&P 500 ETF  .SPY , which tracks its namesake equity 
index, is on average the most traded security in the U.S. stock 
market, by value. 
    "It's really a 'fin-tech' revolution: It took an inefficient 
way of investing and made it efficient," said Mike Venuto, chief 
information officer of Toroso Investments LLC, which built the 
index for the new ETF. 
    "Every good idea out there has the potential to be 
repackaged as an ETF some day." 
    The new ETF index, which trades on NYSE Arca, includes asset 
managers, such as BlackRock Inc  BLK.N , Charles Schwab Corp 
 SCHW.N , Invesco Ltd  IVZ.N , State Street Corp  STT.N  and 
WisdomTree Investments Inc  WETF.O . 
    It also contains other companies benefiting from ETFs' rise, 
such as CBOE Holdings Inc  CBOE.O , Nasdaq Inc  NDAQ.O , 
Intercontinental Exchange Inc  ICE.N , which own exchanges where 
investors buy ETFs. 
    Virtu Financial Inc  VIRT.O , another TETF holding, on 
Thursday said it would buy KCG Holdings Inc  KCG.N  in a $1.4 
billion deal that brings together two major players in U.S. 
electronic ETF trading, sending both stocks soaring. Virtu and 
KCG were each up more than 11 percent.  urn:newsml:reuters.com:*:nL3N1HS4DG 
    The new ETF is managed by Exchange Traded Concepts LLC and 
Penserra Capital Management LLC, and its fees and expenses total 
0.64 percent annually. 
 
 (Reporting by Trevor Hunnicutt; Editing by Cynthia Osterman) 
 ((trevor.hunnicutt@tr.com; +1 646 223 7914;)) 
 
Keywords: FUNDS ETF INDUSTRY/

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