Mutual fund ownership appears set to keep rising among middle-income households as 401(k) participation expands, offsetting ETFs’ appeal. ICI data show fund participation climbing to 56% in 2025 from 43% in 2005. Younger savers’ automatic payroll contributions can sustain inflows, supporting steady asset growth, according to Bloomberg Intelligence. Analyst David Cohne joins “Bloomberg ETF IQ”. (Source: Bloomberg)