“While the idea of a contemporaneous measure of fair value is enticing, in practice, it is inaccurate for 80 percent of all ETFs,” Dave Nadig, the managing director of ETF.com, said in a letter to the SEC.
The Investment Company Institute also argued in its own later that the intraday value could fall behind the actual value or show inaccuracies if the underlying securities do not trade often in fast-moving market conditions.
“We strongly support the Commission’s decision not to require the dissemination of an intraday estimate,” Susan Olson, the ICI’s general counsel, said in a letter to the SEC.
The comment period for the SEC’s proposal is due on October 1. Separately, several comments also urged the SEC to take action and finally allow a bitcoin ETF to move forward.
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