Masters in Business At The Money: Building an ETF
19 snips
Jan 28, 2026 
Wes Gray, founder and CEO of ETF Architect and operator of Alpha Architect, who helps managers convert strategies into ETFs. He discusses what makes an ETF idea viable, typical launch timelines and costs, seed capital and breakeven math. He contrasts index versus active approaches, liquidity mechanics, and when ETFs are or are not the right vehicle.
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Three Requirements To Launch An ETF
- Do expect low fees, sufficient capital, and passion to determine ETF success.
- Plan to outlast competitors by funding three to five years of operations and selling your story like a salesperson.
Four-Month Launch Timeline Is Realistic
- Do plan for a realistic four-month turnaround for a straightforward ETF if you have your materials ready.
- Allow much longer when internal issues arise or the strategy is complex.
Seed Size Now Signals Credibility
- Seed-capital expectations have risen from $5M to $25–50M to signal credibility.
- Market perception of break-even matters as much as operating cost when raising flows.