Why are there so many ETFs on the ASX?

With the financial year officially over, it's time to take stock of the Australian stock exchange, which saw a record number of Exchange Traded Funds added to its board last year.So what explains this spike in ETFs on the ASX? And who is actually utilising them?And while the value of Australian stocks did increase last financial year, the ASX lags far behind the gains of other global indexes.  What's behind the growth overseas? And what explains the gap?Carrington Clarke and ABC Business Correspondent David Taylor break it all down on ABC Business Daily.Hear today's episode of fuelcast - our last one, at least for now - here! Got a burning business question?We'd love to hear your questions! If there’s business and economic news that has you stumped or you'd like further insight into, we're here to help. Send a short voice recording to Carrington and the team at [email protected] and we'll attempt to answer it.