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Yes, normal ETFs create and destroy new shares on a daily basis. But my understanding is that GBTC for whatever reason isn't a normal ETF. It's a "grantor trust
by roncesvalles 4y ago
Yes, normal ETFs create and destroy new shares on a daily basis. But my understanding is that GBTC for whatever reason isn't a normal ETF. It's a "grantor trust", which cannot be issuing and destroying units by the usual authorized participant mechanism to maintain price-NAV parity.