PANews reported on May 27 that US asset management firm Defiance has filed documents with regulators to launch an exchange-traded fund (ETF) tracking Chinese robotics-related companies, focusing on China's robotics and automation industry. Bloomberg analyst Eric Balchunas noted that KraneShares' KWEB China Internet ETF, filed in 2013, was criticized for being too niche, but has since become the largest China-themed ETF.