The 2x leveraged SK Hynix ETF (7709) has surged to become the third-largest ETF in Hong Kong, with its assets under management growing approximately tenfold this year. According to Bloomberg Senior ETF Analyst Eric Balchunas, the ETF now accounts for about 8.5% of the total ETF asset base in Hong Kong. The fund has also seen significant trading activity, with daily turnover surpassing $1 billion. Balchunas highlighted that if this ETF were scaled to the U.S. market, it would equate to a $1.3 trillion fund, a size unprecedented globally. This growth underscores the increasing concentration of capital in Hong Kong's derivative ETFs and single-underlying leveraged products, as well as the rising trading activity in high-risk structured ETFs across Asia.