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Looks like we’re going to have to stop calling it the stock market and rename it the ETF market: Exchange-traded funds officially outnumber individual stocks in the US, according to Bloomberg.
ETFs have hit the market at an incredible pace this year. Issuers have launched 640 ETFs in 2025, or about 4 per day, with 108 new funds making their debut in June alone—a record for the most ETF launches in a single month. The result is that there are now 4,300 ETFs on the market, compared to 4,200 stocks.
Two forces are at work here. On the one hand, issuers like BlackRock, Vanguard, and State Street (the three biggest by assets under management), are in a fierce competition with one another for investor money. The result is that they’ve niched down, offering a wider variety of funds to suit every investor’s needs. On the other hand, the number of companies going public has dwindled lately as the benefits of remaining private outweigh the costs of regulation, litigation, and shareholder activism.
The result is a rapidly growing universe of ETFs—and growing risk for investors who don’t do their homework. Single-stock ETFs, leveraged ETFs, and inverse ETFs are just a few of the new forms of funds that are gaining popularity, but each comes with its own perils and pitfalls. Remember: It’s all fun and games putting money into the Social Sentiment ETF until the buzz wears off.—MR