The numbers tell an interesting story. Through the first three quarters of this year, nearly 75% of newly launched ETFs have been actively managed—a notable flip from the passive-heavy playbook we've seen for years.

What's driving this pivot? Frankly, the investor base itself is changing. Younger traders entering the market through retail-friendly platforms are reshaping how capital flows work. They're not just buying and holding index funds anymore. They want strategies, they want active management, they want someone at the wheel.

According to Franklin Templeton, this demographic shift is real and it's accelerating. Retail investors aren't passive anymore—and neither are their portfolio choices. The tools have become more accessible, the learning curve has flattened, and the appetite for sophisticated strategies has grown.

It's a reminder that markets evolve when the people entering them have different expectations and different access to information. The ETF space is no exception.