A quarter-century ago, before exchange-traded funds had grown into a multitrillion-dollar investment vehicle that upended Wall Street by offering investors exposure to basically every investible asset class for rock-bottom fees, there was only one, MarketWatch reports.
The SPDR S&P 500 ETF turned 25 on Monday, having made its debut January 22, 1993 in what today stands as a watershed moment for financial markets, marking the start of an unexpected revolution in how the world invests.
