Which of the following mechanisms pushes the market price of ETF shares towards the fund's NAV? Authorized participants buy ETF shares when they trade at a discount and redeem them for underlying assets they'll sell into the market. ETFs often trade at large premiums or discounts, even during calm financial conditions. ETF providers will buy or sell shares to investors at a price equal to NAV. Authorized participants buy ETF shares when they trade at a premium and redeem them for underlying assets they'll sell into the market