Core Insights - Recent occurrences of premium pricing in cross-border ETFs have attracted market attention, indicating increased trading activity and market dynamics [1] Group 1: Market Dynamics - Cross-border ETFs are experiencing a phase of premium pricing in the secondary market due to a mismatch between price and net asset value, influenced by a cross-period valuation mechanism and structural capital flows [1] - The pace of premium convergence is affected by redemption efficiency, market sentiment, and external conditions, highlighting the need for caution regarding short-term trading risks [1] Group 2: Industry Growth - The scale of cross-border ETFs has continued to expand rapidly this year, with several thematic products showing significant growth [1] - The overall sector is accelerating in expansion due to a combination of sustained inflows of incremental capital and the continuous introduction of new products, leading to enhanced market participation and product diversity [1]