In The Money: ETF Industry Now Bigger Than Hedge Funds

We spotted this stat today:

"The exchange-traded-fund (ETF) industry is now bigger than the more established business of hedge funds. Assets in the global ETF industry were $2.971 trillion at the end of June, according to ETFGI, a research firm, $2 billion ahead of the hedgies’ $2.969 trillion, as calculated by Hedge Fund Research" Source

It could be the low costs for ETFs - but this definitely seems like a trend in the making.