#大户持仓动态 🚨 Those still shouting Bear Market should take a look at the performance of the Hong Kong encryption ETF.

The data is right in front of us: the total market value of Hong Kong's virtual asset spot ETFs has surged by 33% in the past year, surpassing HKD 5.47 billion. This is not a trivial increase; what does it reflect behind the scenes? The continuous inflow of traditional funds.

The market value of the related ETF products launched by Huaxia Fund Hong Kong has reached 350 million USD, accounting for nearly 40% of the share, making it the absolute leader in this sector. What does it indicate that a single fund can hold such a large weight? It indicates that this compliant channel is becoming the preferred route for institutional funds to enter the encryption world.

Why is this matter crucial? Let's look at three dimensions:

**1. Signal Significance**: As a financial center in the Asia-Pacific region, the steady expansion of the ETF scale in Hong Kong confirms one point—there is a real demand from institutions for the allocation of encryption assets, not just a short-term speculative trend.

**2. Path Expansion**: Traditional funds enter through familiar, regulated frameworks protected by ETFs. Once this path is opened, it will become wider and wider. The volume of funds will only continue to increase.

**3. Ecological Chain Reaction**: When institutions hold large amounts of core assets such as $BTC, $ETH, $ZEC through ETFs, the resulting liquidity spillover effect will inevitably impact the entire ecosystem, especially the sectors with the strongest consensus will receive the most direct benefits.

Looking at it from a different angle, we are at the entrance of a new cycle redefined by "compliant funds." It is not enough to focus solely on the flow of ETF funds; we must also proactively position ourselves in high-potential sectors that can absorb liquidity overflow—especially assets within the Ethereum ecosystem that have a top-notch community foundation, which often create interesting resonance effects with the entry of traditional funds.

What is your judgment? Can the growth momentum of Hong Kong ETFs continue to drive the subsequent market trends? Feel free to share your observations and layout ideas.