Spot ETF
A spot ETF is an exchange-traded fund designed to track direct exposure to an underlying asset rather than a futures contract or derivative strategy.
Category
ETF Market Access
These concepts explain how exchange-traded funds issue shares, work with market makers, and compare fund prices with underlying holdings.
How to recognize this theme
Terms used when funds create shares and track an underlying asset.
In a daily board, this category groups terms by their shared role. Look for four cards that describe the same mechanism, risk area, or workflow rather than four words that merely sound similar.
Educational context
These entries are vocabulary notes for learning. They are not project endorsements, token recommendations, exchange rankings, or trading signals.
Creation Unit
A creation unit is a large block of ETF shares that can be created or redeemed through the fund's primary-market process, usually by specialized institutions.
Authorized Participant
An authorized participant is a financial institution allowed to exchange baskets of assets or cash with an ETF issuer to create or redeem ETF shares.
Net Asset Value
Net asset value is the estimated value of a fund's underlying holdings minus liabilities, usually expressed on a per-share basis.