State Street Global Advisors' much-anticipated private credit exchange-traded fund, developed with alternative investment firm Apollo Global Management, began trading on the New York Stock Exchange on Thursday.

PRIV ETF offers retail investors access to private credit, focusing on investment-grade debt for lower risk. See why I rate the fund a hold.

A much-anticipated private credit exchange-traded fund from Wall Street giants State Street and Apollo Global Management said it will change its name after the U.S. Securities and Exchange Commission shared concerns over the ETF.