Australian Securities Exchange (ASX:ASX) shares rose in morning trade on Friday after welcoming its 400th exchange-traded fund (ETF) with the listing of the Global X S&P Australia GARP ETF (ASX:GRPA) on Thursday.
ASX experienced "significant" growth in the ETF market, as its funds under management surged to over AU$300 billion in September from AU$219 billion in the same month last year, marking an increase of more than AU$80 billion, according to a statement from the financial market exchange.
The number of ETFs on the ASX has almost doubled over the last five years, from 216 ETFs in September 2020, the statement said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.