State Street Global Advisors today marked the twentieth anniversary of the first exchange traded fund, the SPDR S&P 500 ETF (SPY) by reminiscing on the early years of the ETF.

SPY: The Idea That Spawned an Industry is a look back at how a $6.5 million fund evolved into the world’s largest ETF with more than $123 billion in assets under management as of December 31, 2012.

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