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Story perspectives

Investors Struggle with Private Credit ETF Liquidity Issues

4/12/2026

44 8 Full Breakdown

Summary

Story summary

Investors face liquidity concerns in private credit, not designed for daily ETF trading.
Investors can sell ETFs, but often at a discount to net asset value (NAV).
In 2025, the BIZD ETF closed at a discount 37 times, and 12 times this year.
State Street has launched private credit ETFs, including the first SEC-approved one in February 2025.
These funds hold treasury and mortgage-backed securities, with minimal private credit exposure.

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Story summary

Investors face liquidity concerns in private credit, not designed for daily ETF trading.
Investors can sell ETFs, but often at a discount to net asset value (NAV).
In 2025, the BIZD ETF closed at a discount 37 times, and 12 times this year.
State Street has launched private credit ETFs, including the first SEC-approved one in February 2025.
These funds hold treasury and mortgage-backed securities, with minimal private credit exposure.