The cross-border ETF market is becoming increasingly hot, and public offerings are shifting towards more refined international operations.

Driven by the global demand for asset allocation, the cross-border ETF market is rapidly expanding, and fund companies are transitioning from a single-product layout to diversified ecological competition. Choice data shows that as of December 18, 2025, China's total cross-border ETF market size has reached 924.21 billion yuan, an increase of 118% from the beginning of the year. It is showing a leading trend among passive equity products of public funds. Behind the hot subscription, the premium risk of cross-border ETFs is also accumulating. Journalists have preliminarily found that since December, 14 public fund institutions have issued more than 200 cross-border ETF premium risk warning notices. Industry insiders analyze that this also means that the cross-border ETF market is transitioning from the initial stage of scale expansion to a new stage of refinement and development.