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Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, reports that Northern Trust is set to execute a mutual fund to ETF conversion involving $33 billion, making it the largest such move to date.
This shift will instantly double Northern Trust's ETF assets. Balchunas observes that these conversions are increasingly popular, as they allow firms to carry over their existing assets and track records into the ETF market.
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Balchunas has previously tracked notable ETF trends, including his report that IBIT has narrowly surpassed VOO since inception despite higher volatility. He has also observed that SPY trading volume stayed below $60 billion for 50 consecutive days. These observations add context to the ongoing interest and activity in the ETF market.