BNY Mellon’s Pershing, a provider of financial business solutions, has launched Fundvest ETF, a no-transaction-fee ETF platform with no purchase minimums or holding period.

FundVest ETF currently features funds from providers including Direxion, Guggenheim Investments, Invesco PowerShares, OppenheimerFunds, PIMCO, Reality Shares, and SPDR ETFs.

The solution complements Pershing’s existing mutual fund transaction-fee-free platform, FundVest. It provides Pershing’s clients with flexibility to deliver a broad range of ETFs to investors while reducing explicit costs.

FundVest ETF spans a diverse range of asset classes, and currently features funds from providers including Direxion, Guggenheim Investments, Invesco PowerShares, OppenheimerFunds, PIMCO, Reality Shares, and SPDR ETFs.

Justin Fay, Pershing’s director of financial solutions, commented: “As the demand for ETFs continues to increase, we are pleased to bring our clients a diverse selection of no-fee ETFs offered on an independent, open architecture platform. This new offering reaffirms our commitment to expanding the suite of low-cost investment solutions available to our clients as they continue to implement ETFs more frequently within portfolios in an effort to more efficiently meet investor financial goals.”

According to Pershing, inflows into ETFs on its platform increased 20% in 2016, compared to the previous year. This trend is expected to continue with a recent Pershing survey conducted by Beacon Strategies showing that among 1,500 financial advisors, RIAs, and global wealth managers, more than two-thirds of respondents who used ETFs said they intend to increase their usage over the next 12 months.