Money managers in the United States couldn't stop the money rush to ETF, so they decided to follow suit. Today's situation is more like a jostling one after another, and everyone is rushing in.

ETF attracted more money in seven months than in any single year since records began. Currently as high as $488.5 billion and rising, it could break the full-year record of $4970 set in 2020 within weeks or even days.

The influx of money reflects a historic surrender for the mutual fund industry.

Investors have long turned to cheaper, easier to trade and more tax-efficient tools. Now, even the most prominent fund managers are launching ETF to avoid being out of touch with market trends, while some money managers, such as Vanguard Group, are helping clients switch to ETF.

Almost all of the 25 largest asset managers in the United States offer or plan to provide ETF, according to the data. The biggest is Capital Group, without one, it plans to join the club soon.

"it's a specification change," said Eric Balchunas, an analyst at Bloomberg Intelligence ETF. "it's like people moving from buying CD to streaming or digital music, or from taking a taxi to Uber."

ETF is a tool for pooling investors' money, just like mutual funds. The difference is that they trade all day like stocks.

Founded more than 30 years ago, their popularity has soared since the 2008 financial crisis. With the brutal economic crisis, growing mistrust of fund managers and investors attracted by the passive and transparent ETF, the assets of US funds doubled to $1,000bn by 2010.

History is repeating itself, and the collapse triggered by the epidemic last year triggered a renewed influx of money into ETF.

Fund assets in the US have jumped to a record $6.6 trillion, up from $3.7 trillion at the peak of selling pressure last year. ETF added $497 billion in new funds in 2020, with a net outflow of $506 billion from mutual funds.