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The US ETF Ecosystem: Roles and Responsibilities of Key Players


Since ETFs launched in 1993, they have become an increasingly popular investment vehicle for both individual and institutional investors. Today, there are more than 2,300 US-domiciled ETFs, with $5.4 trillion in assets.1

However, there is still a great deal of misunderstanding of how ETFs are structured, traded and regulated. Increased disclosure, greater transparency and improved investor education are vital to helping investors understand the potential benefits of investing in ETFs.

Take an in-depth look at the US ETF ecosystem in a new article where we define the major participants and how they interact with the funds and their shareholders. For each of the key industry players, we outline their roles and responsibilities, how they are regulated and, where applicable, how they are compensated. We cover:

  • ETF issuers
  • Service providers hired by ETF issuers
  • Independent trustees and related oversight functions
  • Capital markets participants
  • Regulatory bodies
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