According to Reuters, Vanguard's new Emerging Markets Ex-China ETF was launched as a direct result of advocacy from the Missouri Treasurer, highlighting significant institutional demand for China-excluded emerging markets exposure (Source: Reuters). Trading analysts note that the success of similar ETFs like EMXC and FRDM demonstrates robust investor interest in reallocating emerging market portfolios away from China, which could shift flows and volatility across related assets. This trend is particularly relevant for crypto traders, as changes in institutional capital allocation toward specific emerging markets may impact regional liquidity and cross-market correlations, especially where crypto adoption is high.