According to @EricBalchunas, technology has risen to 35 percent of the S&P 500’s index weight while only 26 percent of overall ETF assets and 22 percent of active assets are allocated to the sector, indicating notable under-ownership versus the benchmark, source: @EricBalchunas. He adds that this mismatch has contributed to worse-than-normal active manager beat rates over the past 12 months, source: @EricBalchunas. He characterizes this as investors overthinking the market and reiterates a pro US tech positioning, source: @EricBalchunas. The source did not mention any direct cryptocurrency market impact, source: @EricBalchunas.