The results of Greenwich Associates latest Institutional ETF Study reveal that institutions are adopting Exchange-Traded Funds (ETFs) both as an everyday tool for use in a variety of routine portfolio functions and as a means of obtaining long-term strategic investment exposures. Greenwich Associates expects both usage rates and allocations to broaden as institutions embrace ETFs for an expanding number of applications and asset classes, and as ETF providers continue to innovate in ways that make their product offerings more flexible and appealing to institutional investors. Methodology Greenwich Associates interviewed a total of 201 U.S.-based institutional exchange-traded fund users in an effort to track and uncover usage trends. The respondent base of ETF users included 49 institutional funds (corporate pensions, public pensions, foundations and endowments), 32 asset managers (firms managing assets to specific investment strategies/guidelines), 31 insurance companies, 70 RIAs and 19 investment consultants.