Huge news today: a private credit interval fund is halting redemptions. Besides what it says about underlying mkt liquidity this is gonna further erode trust in funds w five letter tickers. This wouldn’t happen in an ETF, even if everything is illiquid the ETF trades on. You can get in and out. This is the argument FOR allowing privates in ETFs and why investors have shown they want it that way vs interval fund.(Eric Balchunas)