The Etf Book -

: It explains the crucial role of Authorized Participants (APs) and the creation/redemption process, which ensures an ETF's market price remains closely aligned with its Net Asset Value (NAV).

: Ferri details how the "in-kind" exchange mechanism allows ETF managers to minimize capital gains distributions, making them highly efficient for taxable accounts. The ETF Book

The book is noted for its deep dive into the technical "nuts and bolts" that separate ETFs from traditional mutual funds. : It explains the crucial role of Authorized