> Together, that would be about $195B+ of IPO shares to buy...For comparison, all U.S. IPOs together raised $44.0B in 2025

Net buying of corporate equities by American households, trusts, funds and non-profits has averaged $660bn per year for the last few years [1].

[1] https://www.federalreserve.gov/releases/z1/20260319/html/f22... line 26, 2023 to 2025