NAV of Underlying Assets: GB1E.XETRA tracks an index. Its price closely reflects the net asset value (NAV) of the underlying securities within that index. Changes in the value of those holdings directly impact the ETF's price.

Supply and Demand: Like any exchange-traded security, GB1E.XETRA's price fluctuates based on supply and demand in the market. Higher demand pushes the price up, while increased selling pressure lowers it.

Market Sentiment: Overall market sentiment toward the asset class represented by the ETF's underlying index can significantly affect its price. Positive sentiment leads to increased investment, driving prices higher.

Index Rebalancing: When the underlying index is rebalanced, GB1E.XETRA must adjust its holdings accordingly. This can cause price fluctuations, especially if the rebalancing involves significant trading volume.

Currency Fluctuations: Since GB1E.XETRA is traded on the XETRA exchange, currency exchange rates between the ETF's base currency and other currencies can influence its price for international investors.