BlackRock's Nestor on Shift From Futures to ETFs

Rob Nestor, head of iShares U.S. smart beta at BlackRock, said earlier this year that the derivatives market is a source of growth for the ETF industry. BlackRock estimates that pension funds and other institutional investors replaced $11.7 billion of their futures holdings with ETFs in 2016, a 17 percent jump over the year before. This is a daily ETF podcast from Bloomberg’s Catherine Cowdery.