[Potential Impact on U.S. Stock Assets on Futu and Tiger Platforms Could Reach $175 Billion] According to market analysts' estimates, if future regulatory policies prevent mainland Chinese investors from continuing to hold or trade U.S. securities through cross-border brokers like Futu Securities and Tiger Brokers, the client assets on these platforms may face migration or disposal demands, potentially involving approximately $175 billion in U.S. stock assets. Analysts believe this figure is based on the total assets under custody on the platforms and the proportion of mainland users, and does not represent the actual amount of sell-off. Market participants pointed out that even if regulations tighten, investors may still retain their assets through asset transfers, account migrations, and other methods, meaning the actual selling pressure could be far lower than the theoretical estimate. Currently, relevant regulatory policies do not require investors to forcibly sell their U.S. stock holdings. As of the end of 2025, Futu Securities' client assets are approximately $158.4 billion, and Tiger Brokers' client assets are approximately $60.8 billion.