According to Eric Balchunas, the South Korea ETF $EWY experienced a significant volume eruption, trading $6.2 billion in a single day, which is double its all-time record in its 25-year history. The ETF has shown remarkable price growth, increasing 161% over the past year and 65% year-to-date. While the exact reasons remain unclear, there are indications that the surge may be linked to the global popularity of K-Pop.