The evolution of Exchange-Traded Funds (ETFs) began in the early 1990s, with the launch of the first ETF, the SPDR S&P 500 Fund (SPY), in 1993. ETFs combined the diversification of mutual funds with the flexibility of stocks. Over time, they expanded to cover various asset classes, regions, and sectors, becoming a popular, low-cost investment option globally. https://businesssuccesselites.com/finance/evolution-of-exchange-traded-funds-etf/