🚨BIG MOVE: European banks are going after ETF FEES dominated by BlackRock and Vanguard. UniCredit, Commerzbank, Santander and ING are launching their OWN ETFs as Europe’s ETF market grows to around $4 TRILLION, per FT. Banks already have the customers. Now they want to sell them their own investment products too. That means more ETF fees stay with the banks instead of flowing to outside asset managers. Germany’s pension reforms could also bring another €40 BILLION a year into funds. The battle for Europe’s ETF market is getting BIGGER.