Eric Balchunas from Bloomberg Intelligence recently highlighted a peculiar market quirk on X: the nav of ETFs gets calculated precisely at London's market close, which coincides with noon Eastern Time. This unconventional timing has raised eyebrows across the financial community, with some calling it rather surprising. The discussion underscores a critical tension between global market schedules—when London wraps up its trading day, U.S. markets are just entering their morning session. For traders managing positions across both regions, this nav calculation window creates unique operational considerations. The implications are noteworthy: it means fund valuations are struck at a moment that doesn't align with traditional U.S. trading hours, potentially affecting how investors price their ETF entries and exits throughout the afternoon. Market participants continue to wrestle with how this timing mechanism influences trading strategies and portfolio decisions.