No, ETF funds track the index and invest in sample stocks of the index, so there is still a net value, which is generally published once a week.

For small and medium investors, ETF funds are bought and sold on exchanges. In fact, it can still be purchased and redeemed off-site, which is for large institutional investors to preserve their value. In addition, for large institutional investors, they can also arbitrage in the two markets by transferring custody. Generally speaking, the amount of funds for public operation needs more than 50 million institutional investors.