As of April, the combined market cap of index funds (including ETFs) is just under $21T. [0]

Actively managed funds is $18T. And, for example, the S&P500 alone is $69T.

[0] https://www.ici.org/research/stats/combined_active_index_042...

*trillion

The 12 largest companies in the USA together have that market cap, so probably not.

> Do you have a source for the $30 million claim?

Index funds in total had about5 $7 trillion in 2021 [1].

[1] https://alexchinco.com/double-what-you-think-it-is.pdf