An exchange-traded fund is a pooled vehicle whose shares trade on an exchange and are created and redeemed in large blocks by authorised participants against the underlying basket.
Also known as ETF. instruments and markets · updated 2026-09-08
Where does exchange-traded fund come up?
This term is used in the following manipulation techniques, each explained in full on
its own page.
ETF and NAV abuse— ETF and NAV abuse exploits a fund's valuation of illiquid or stale-priced holdings, creating or redeeming shares at a ratio that transfers value from the investors who remain in the fund.
See also
Net asset value— Net asset value is the per-share value of a fund's holdings. For funds holding illiquid or stale-priced assets, the inputs to net …
Authorised participant— An authorised participant is a firm entitled to create and redeem exchange-traded fund shares directly with the fund, arbitraging …