Mutual fund conversions hit record in ETF industry’s epic year

Signage in the course of the itemizing ceremony of a spot-Bitcoin ETF issued by China Asset Administration on the Hong Kong Inventory Trade in Hong Kong, China, on Tuesday, April 30, 2024. A batch of exchange-traded funds investing instantly in crypto debuted in Hong Kong, heralding potential competitors for US Bitcoin merchandise whose reputation stoked a report rally within the digital asset.

Photographer: Paul Yeung/Bloomberg through Getty Photos