There's a new way to bet on the world's hottest investment product (TETF)

The exchange-traded fundmarket is getting meta.Investors can now bet on the share movements of companies that deriverevenue from ETF trading by ' you guessed it ' buying a separate standalone ETF.It's an unsurprising next step for the burgeoning industry, for which total combined US assets stood at $2.7 trillion in February, according to the Investment Company Institute.The expansion isn't expected to slow any time soon. As of February 2,passive investments like ETFs and index funds accounted for28.5% of assets under management in the US. That share will rise to more than 50% by 2024 at the latest, according to a Moody's forecast.The ETF Industry Exposure & Financial Services ETF, which trades under the ticker "TETF" is designed to track the price and yield performance of the Toroso ETF Industry Index.The fund will be maintained by Solactive AG and has four tiers of components, which include:Companies with substantial participation in the ETF industry that provide direct financial impact to shareholders. The grouphas a weighting of 50% and includesBlackRock, Charles Schwab, Invesco, State Street, WisdomTree, among othersCompanies with substantial participation in the ETF industry that provide indirect financial impact. The tier has a weighting of 25% and includesKCG Holdings, NASDAQ, Intercontinental Exchange, among othersCompanies with moderate participation in the ETF industry. The group has a weighting of 15% and includesBank of New York Mellon, US Bancorp, FactSet, Ameriprise Financial, among othersCompanies that are new or have a small role in the ETF industry, relative to their overall operations. The tier has a weighting of roughly 10% and includesMorningstar, Eaton Vance, Goldman Sachs, Legg Mason, Citigroup, among othersInvestors and advisors "have not had opportunities to participate in the growth of the ETF industry itself," Mike Venuto, chief investment officer of Toroso Investments, said in an April 19 statement. "That is an issue we've solved."SEE ALSO:Wall Street is changing how it trades the world's hottest investment productJoin the conversation about this storyNOW WATCH: People are outraged by this shocking video showing a passenger forcibly dragged off a United Airlines plane
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