According to @business (Bloomberg), an ETF favored by China’s so-called national team is set to record its fifth consecutive monthly outflow, the longest streak since 2020, indicating investors are taking profits after a multi-month rally (source: Bloomberg/@business). This marks a notable withdrawal of support from a key state-linked vehicle that traders monitor for A-shares sentiment and liquidity cues during Asia hours (source: Bloomberg/@business). For crypto, Asian risk tone can influence intraday liquidity and volatility in BTC and ETH during Asia trading hours, as documented by Kaiko Research in 2023 on regional market microstructure (source: Kaiko Research, 2023). Traders may watch Hong Kong-listed spot BTC and ETH ETFs as an additional regional flow indicator following their launch disclosures by HKEX and the SFC in April 2024 (source: HKEX and SFC, April 2024).

According to Eric Balchunas, US-focused ETFs have experienced strong inflows since Liberation Day, while Europe and China-focused ETFs have seen notable outflows. Broad international ETFs are performing well, but the technology sector is leading all others in capital attraction. These ETF flow trends highlight US market dominance and tech sector strength, which historically correlates with increased risk appetite and potential bullish sentiment in the cryptocurrency market, especially for assets linked to US tech and broader digital innovation (source: Eric Balchunas on Twitter, May 6, 2025).