This is Folyum running on Robinhood Testnet.
The ETF NAV is moving up while the vault composition stays very close to its target weights. In this snapshot, the maximum portfolio drift is only 0.14%.
At the same time, the ETF is trading slightly above NAV, creating an arbitrage opportunity.
The idea is that the same permissionless arbitrage flow can help with both:
keeping market price aligned with NAV
rebalancing the underlying portfolio toward its target allocation
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