Does anyone know how, say Blackrock, issued ETFs on illiquid assets can unravel? 1. People lose faith in it's convertibility or issuer 2. It starts to trade at a discount to underlying assets 3. People attempt to convert the ETF back with Blackrock, who can't b/c illiquidity?
Where you the issuer does not have to exchange the ETF for the underlying assets but instead pay out like it does... synthetically?
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Yikes, thank you.
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