“ETFs currently account for just 3% of assets held in equity and bond markets globally”, according to an article from the Financial Times on June 14, 2021.
According to FED data, the percentage is higher in the US where ETFs account for 7% of the equity market. Yet being aware of those data allows to put things in perspective when reading about the exponential growth of ETFs.

In fact, share in financial markets should not be confused with share in the fund management industry
Globally passive funds (index funds + ETFs) account for 33% of total assets under management of the mutual fund industry. The highest number is found in the US where equity passive funds account for 51% of total fund industry assets. One of the smallest number is found in Europe where fixed income passive funds account for 16% (Source Morningstar 30/4/2021).

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