According to Eric Balchunas, the Chinese government sold about 10 billion dollars of ETFs after previously buying roughly 180 billion dollars to cool an overheated equity market, source: Eric Balchunas on X, January 16, 2026. According to Eric Balchunas, the sales were concentrated in technology and momentum ETFs and the government realized a profit on the trades, source: Eric Balchunas on X citing Rebecca Sin and Jacki Wang, January 16, 2026. According to Eric Balchunas, the selling activity was executed mostly through tech and momentum funds rather than broad market ETFs, source: Eric Balchunas on X, January 16, 2026. According to Eric Balchunas, the post did not mention any direct impact on cryptocurrency markets, source: Eric Balchunas on X, January 16, 2026.