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Knowing how the stock market is basically run by HFT's, I wonder if such a "donation" could cause a cascading sell off?

Yea, but the HFT's are observing inflows/outflows through the traditional stock market rails into the ETF. They have zero infrastructure for viewing the underlying AUM.

Still. Your question intrigues me. Did you have a specific scenario in mind for how that could happen?

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