Buoyed by a surge in Chinese Internet stocks and the anticipation of the Alibaba initial public offering, expected later this month, the KraneShares CSI China Internet Fund (NasdaqGM: KWEB) has joined the $100 million in assets under management club.

To be precise, KWEB had $106.3 million in AUM as of Sept. 3. KWEB, which debuted in July 2013, joined the $100 million club last month amid third-quarter inflows of $25.4 million.

KWEB has surged 17.4% over the past three months, a run that has been aided by epic surges in high-flying Chinese Internet stocks ranging from Baidu (NasdaqGS: BIDU), Tencent Holdings (OTC: TCEHY) and Vipshop Holdings (NYSE: VIPS).

In a testament to the recent strength of Chinese Internet stocks, Tencent, China’s largest Internet company, is the worst performer of the aforementioned trio over the past 90 days with a gain of 15.4%. Over the same period, the First Trust Dow Jones Internet Index Fund (NYSEArca: FDN) is up 11.1%. [These ETFs Hold a VIP of Internet Stocks]

KWEB has gotten plenty of notoriety for its volatile, high-flying ways as well as likely being one of the first ETFs that will make room for Alibaba when that company delivers one of the hottest IPOs in recent memory in a few weeks.