The Toronto Stock Exchange (TSX) is gearing up to celebrate a significant milestone as it marks the 35th anniversary of the debut of the world’s first Exchange-Traded Fund (ETF). This groundbreaking financial instrument, known as the Toronto 35 Index Participation Units (TIPs), was launched on March 9, 1990, establishing a pivotal moment in the investment landscape. The inception of TIPs laid the foundation for the evolution of modern ETFs, which have since gained widespread popularity as a preferred investment vehicle across global markets.

Canada’s pivotal role in introducing innovative investment products is underscored by the remarkable growth of the Canadian ETF market, which has recently surpassed $600 billion in assets under management spanning over 1,000 unique products. This achievement reflects Canada’s enduring legacy of fostering financial innovation that resonates globally.

The CEO of the Toronto Stock Exchange, Loui Anastasopoulos, expressed pride in the transformative impact of ETFs, emphasizing their role in reshaping financial markets and revolutionizing investor engagement worldwide. Canada’s reputation as a trailblazer in ETF innovation is further exemplified by its introduction of the world’s first fixed-income ETF in 2000 and the pioneering launch of the world’s first bitcoin ETF in 2021, demonstrating a sustained commitment to driving financial product development.

As of January 2025, TSX-listed ETFs have amassed over $560 billion in assets under management through a diverse range of 1,073 products. The year 2024 witnessed a significant milestone with $753 billion worth of ETF units traded in Canada, with options available on 53 ETFs through the Montréal Exchange. Graham MacKenzie, the Managing Director of Exchange-Traded Products at the Toronto Stock Exchange, highlighted the extraordinary growth and innovation within the Canadian ETF ecosystem over the past 35 years.

The commemoration of this anniversary aligns with TMX Group’s strategic expansion in the ETF industry, exemplified by its acquisition of VettaFi, a U.S.-based indexing and analytics firm in January 2024. This move underscores TMX Group’s commitment to advancing its presence in the dynamic ETF landscape, further solidifying its position as a key player in shaping the future of financial markets.

In conclusion, the 35th anniversary of the world’s first ETF launch serves as a testament to Canada’s enduring legacy of financial innovation and underscores the Toronto Stock Exchange’s pivotal role in shaping the global investment landscape. This milestone celebration not only commemorates a historic event but also heralds a new chapter in the evolution of ETFs, reaffirming Canada’s position as a driving force in financial market innovation.