According to @EricBalchunas, active ETFs now outnumber passive ETFs by fund count, while active strategies hold roughly 10% of total ETF assets and are growing quickly (source: Eric Balchunas on X, Oct 14, 2025). For traders, this shift in product mix highlights that new launches and flows may increasingly favor active vehicles even as passive AUM dominance persists, affecting liquidity dispersion and pricing across segments (source: Eric Balchunas on X, Oct 14, 2025). In crypto specifically, most U.S. spot Bitcoin ETFs such as IBIT and FBTC are passively managed index trackers per their SEC prospectuses, making the broader active-ETF growth an important backdrop when assessing future crypto ETF structures, fees, and tracking approaches (source: SEC prospectuses for iShares Bitcoin Trust and Fidelity Wise Origin Bitcoin Fund, Jan 2024). Monitor the active-to-passive ETF launch ratio and net inflows as leading indicators for potential demand shifts that could influence digital-asset exposure via ETFs (source: Eric Balchunas on X, Oct 14, 2025).