RE:RE:GDXJ will need to sell $3.0B To fund the buying of the new index additions, the existing index components will likely face steep selling. The Scotiabank report says that GDXJ "could have to sell $2.6B across existing index constituents," which represents "2.5% to 8% of the total shares outstanding of each existing index constituent."
Read more at https://www.stockhouse.com/companies/bullboard?symbol=t.tgz&postid=26138498#m6CTI1OYm1Fr6X8b.99
If GDXJ holds 70M shares of TGZ, then worst case, an 8% sell down would be 5.6M shares, best case 0%-2.5% equaling 1.75M shares sold.