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What stops an ETN issuer from delisting its ETN to make the price fall?

Personal Finance & Money Asked on November 30, 2020

From my understanding, exchange-traded notes (ETNs) are essentially debt instruments. Due to "liquidity premium", I assume that ETNs listed on an exchange will command a higher price than ETNs that are not listed. What stops an ETN issuer from deliberately delisting its ETN in order to make the price fall (i.e. create a "liquidity discount"), such that the issuer can repurchase ETNs (i.e. retire debt) at a lower price?

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