📉 China’s capital shift: 科创50 ETF pulls in 14 billion yuan in a single day, crypto liquidity under pressure

Chinese investors bought the 科创50 ETF on Monday, with net inflows of about 14 billion yuan ($2 billion) in one day, the highest since December 2020. The inflow propelled the index to jump 11% on Tuesday, but it had plunged 17% in the prior week due to leveraged liquidations. At the same time, at least five insurance companies have pledged to increase their holdings of A-shares; one China Life alone bought more than $1.5 billion worth of stocks and funds.
For the crypto market, this suggests that some of the funds that might previously have gone to assets like BTC/ETH are being diverted to A-share tech sectors. Especially when Chinese retail and institutional money shows high sensitivity to extreme volatility in A-shares, Monday’s bargain-hunting behavior is a case in point.
What to watch: ① whether net inflows into the 科创50 ETF can be sustained; ② whether trading volume for major tokens such as BTC/ETH declines during the Asian session; ③ whether the USDT/USD premium changes.
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