There is sometimes confusion that exchange listing is all about liquidity, but that is just one of several benefits. The three major positives of exchange listing are:
Standardization is proving to be a tremendous benefit to holding multiasset portfolios all within the same account structure. ETFs neatly package all asset classes into an equity structure that can reside in the simplest of brokerage accounts. This was impossible just a few years ago. Now you are able to keep your bond position wrapped in an ETF structure within your investment account, instead of having your portfolio separated in different account types with attendant complications. You can even include your commodities ...