How does market making in ETF works?

How does market making in ETF works? There are no sellers for HNGSNGBEES, i never thought ETF can also have liquidity crunch? How are new units added? There was also huge Tracking error in Nfirtbees when Nifty fallen 5%

This is because of exchange set upper circuit limit. Similar is the case with MAHKTECH ETF. Coincidentally, both are China specific ETFs.

yeah , but its really strange , circuit limits should be updated and i don’t know how pricing are calculated . Prev close was 300.49 and upper circuit is 283.63 and lower circuit is 189.09

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This is the explanation given by Mirae AMC - Mirae Asset Investment Managers (India) Pvt. Ltd. on Twitter: “@Bhavik_Shah1987 The Hang Seng Tech ETF on exchange has hit upper band of 13.53 (15%) as of yesterday closing, so there is an upper circuit.” / Twitter

Maybe it’s some sort of a 15% weekly circuit filter. But, still doesn’t explain why the price was allowed to go above it yesterday.

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