According to Eric Balchunas, 2025 "basically" broke every ETF record by a wide margin, as stated in his X post on Dec 11, 2025. Source: Eric Balchunas on X, Dec 11, 2025. He added that 2026 may not match 2025 if the stock market cools, yet two charts make a repeat possible: many mutual fund firms still do not offer ETFs, and an equity-related trend he cites supports continued strength. Source: Eric Balchunas on X, Dec 11, 2025. He framed these as structural drivers that could sustain ETF launches and flows into 2026 while urging caution if equities weaken. Source: Eric Balchunas on X, Dec 11, 2025. For traders, the actionable takeaway is to watch mutual-fund-to-ETF expansion and the equity-related ETF trend he highlighted as signals for whether 2026 can maintain 2025’s momentum. Source: Eric Balchunas on X, Dec 11, 2025.

According to @EricBalchunas, there are 124 crypto ETFs still in registration by coin, indicating a large pipeline into 2026 that traders should track for product supply and liquidity impacts (source: Eric Balchunas on X, Dec 11, 2025). He adds that a tidal wave of launches will likely be followed by liquidations as weaker funds fail to gain traction, pointing to an industry shakeout that could shift assets and volumes across products (source: Eric Balchunas on X, Dec 11, 2025). He cites the 2026 ETF Outlook section by @JSeyff, framing near-term supply expansion and subsequent consolidation as key variables for crypto ETF liquidity and fee dynamics (source: Eric Balchunas on X, Dec 11, 2025).