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Exchange traded fund structure question

Are index replicating exchange-traded funds open or closed-end funds? Is the number of outstanding shares for SPY or UVXY fixed? I’ve been trying to find out but no luck so far.

If the funds are open-end, then with the new capital they keep investing in the corresponding index components. In that case, the more people choose a passive investment strategy, the stronger upward pressure on the market. This pressure may become (became) unjustified.

Exchange traded fund structure question – RobinHood – Reddit Feed

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