According to Eric Balchunas, JPMorgan has converted its $1.3 billion Unconstrained Debt mutual fund into a new ETF named Flexible Debt ETF. This move contributes to the growing trend of converting mutual funds to ETFs, with converted assets now totaling $140 billion. For traders, this shift suggests increasing liquidity and potential cost efficiencies in debt instruments, impacting trading strategies in fixed-income markets.