Recently, funds have flowed into stock ETFs, and passive equity investments have been booming. On September 10th, heavyweight broad-based ETFs were listed, with the first batch of 10 CSI A500 ETFs issued, involving fund companies such as ChinaAMC, Huatai-PineBridge, Invesco Great Wall, and Fullgoal. As of September 12th, these 10 products have attracted over 3 billion yuan in investments. ETFs have become the main channel for fund inflows this year. Domestic ETFs have reached "20 years old" this year, with a total size exceeding 2.7 trillion yuan, becoming a major force in the A-share market. However, behind the scenes, there is fierce competition and product homogeneity, leading to some ETFs being reduced to "mini funds", and many of them with scale hovering around the 50 million yuan mark are preparing to exit the market. As an important participant in the capital markets, brokerages, through refined positioning, assist in the development of the ETF ecosystem: by improving market-making capabilities to ensure liquidity and trading efficiency of ETFs; providing research services around the trading and allocation needs of ETF clients to contribute more incremental funds to the A-share market. (Shanghai Securities News)