If the fund stops subscription, it can no longer buy, and if the fund stops redemption, it can't sell.

There are several possibilities for closed subscriptions:

The closing period of the new fund is to suspend subscription.

If the total amount of funds is too large, the subscription will be closed to ensure the interests of the holders.

Regular open-end funds usually close the subscription.

There are several possibilities for closing redemption:

The subscription and redemption of new funds will be suspended during the closed period.

Due to the large-scale suspension of holding stocks, it is impossible to sell stocks, and there are huge redemptions and short-term suspension of redemptions.

Some funds are open for redemption on a regular basis and cannot be redeemed at ordinary times.