The tweet was deleted by the author.
But we saved everything 🙂.
Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, reports that China's government, also known as the National Team, generated an estimated $65 billion profit—about 40%—in under three years by buying and now selling various equity ETFs to stimulate the stock market.
Balchunas adds that the Chinese authorities' actions proved effective at boosting market sentiment and suggests they may pursue similar measures in the future if deemed necessary.
Balchunas has tracked other ETF activity in recent reports. He noted that DRAM and ARKK ETFs saw the largest cash inflows in a recent trading session, highlighting shifts in investor interest. In a separate update, he observed that Tuttle changed the ticker of its SPAC ETF to release SPCX, indicating preparations for a new fund launch.