Comment by burner_
10 hours ago
>2025 was also the first year that the majority of stocks were traded off-market (i.e. hedgie darkpools, no public price discovery).
Do you have any sources for that?
10 hours ago
>2025 was also the first year that the majority of stocks were traded off-market (i.e. hedgie darkpools, no public price discovery).
Do you have any sources for that?
It sounds quite plausible.
Almost all equity ETFs do their balancing against dark pools or directly with market makers to avoid arbitrage and to ensure enough liquidity.
Since index ETFs have more AUM than the underlying instruments (the “ETF tail wagging the dog”), this sounds like a natural evolution.
There is nothing nefarious about this, it’s just how the markets work.