Danish and Canadian pension funds allegedly considering majour offloads in US public equities, does this impact market tracking ETFs VOO?

[https://www.ft.com/content/6eea2278-556a-4395-9f6a-42cf2c6c2363](https://www.ft.com/content/6eea2278-556a-4395-9f6a-42cf2c6c2363)

CPPIB Canadian Pension Plan Investment Board has $500 billion+ USD in assets and Denmark's retirement funds are considering selling their USA holdings apparently. Article mentioned a few of Denmark's retirement funds like Anders Schelde which has $20 billion USD.

It was saying that they are considering reducing USA exposure in public equities, private equity fund investments (article said that CPPIB is invested in Silver Lake, Carlyle and Blackstone funds), and infrastructure, because "for fear it could lose tax exempt status afforded to foreign governments and their pension funds, said a person familiar with the fund’s thinking."

Would something like this have any ripple effects for the general stock market like SP500/VOO? Or is it too small an amount to matter if it actually went through?