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Who can be the initiator of ETF?
ETF is a transactional open index fund.

Transactional open-end index fund, also known as exchange-traded fund (ETF), is an open-end fund listed and traded on the exchange, with variable fund share.

At present, it seems that only Public Offering of Fund Management Co., Ltd. can issue ETF funds in China.

Because ETF is a fund, only fund companies are qualified to be hair funds.