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What is the difference between the primary market and the secondary market in ETFs?

April 26, 2017ETFs market primary Secondary

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What is the difference between the primary market and the secondary market in ETFs?

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In the primary market, ETF shares are generally only issued to institutional investors in large quantities through subscriptions. In the secondary market, ETFs can be transacted (bought and sold) via any exchange on which the ETFs are listed, in smaller quantities.