18 billion private equity funds hunting ETFs, science and technology innovation themes becoming "tasty."

Against the backdrop of the booming development of index investing in the domestic market, the enthusiasm of private equity funds for allocating ETFs is increasing day by day. In particular, the signs of large and medium-sized private equity firms "sweeping" ETFs are very obvious. For example, quantitative private equity firm Zhufeng Asset and Zhongyi Asset have purchased over 100 million shares of ETFs to be listed by 2025; billion-level private equity firms Sixiang Investment and Xuanyuan Investment have respectively bought 50.055 million shares and 23.001 million shares. Overall, data from the Privately Placed Fund Network shows that as of May 29, 2025, among the ETF products listed this year, there are 97 products where private equity funds appear in the top ten holders before listing. Private equity firms collectively purchased nearly 1.8 billion shares of ETFs to be listed by 2025. In terms of investment preferences, science and technology theme ETFs and free cash flow ETFs are favored by private equity firms.