So the steps we have are:

1. &lt;Buy ETF&gt;
2. &lt;Sell ETF / Buy Futures&gt; 
3.&lt;Sell Futures / Buy &gt; 
4. &lt;Sell &gt;

If we have more money flowing in at Step 1 than we have people willing to sell at the current Spot price at Step 4, then there are only two possibilities...