No, ETF is an on-site fund, and there is no off-site subscription and redemption. There is no difference between buying and selling stocks outside the store, but you need to open a stock account to trade.

Therefore, ETF funds can only be redeemed on the spot, and redemption is share redemption, not cash redemption. ETF funds have the advantages of good dispersion, high transparency and little influence from the subjective factors of managers. It is not only convenient for holders to purchase and redeem, but also has relatively low management fees, which is relatively suitable for users with large investments.

Investors who want to buy ETF funds but don't have a stock account can choose ETF-linked funds, which are linked to on-site funds in the form of off-site funds, so that off-site investors can buy on-site funds without opening an account.