Update: This article, originally published at 10:14 a.m. on Monday, June 29, has been updated to include new information and analyst comments throughout.
NEW YORK (TheStreet) -- After months of negotiation, Greece seems to be out of options and headed for default. Its banks and stock market are shuttered, likely for the week, as anxious consumers try to get as much of their money as they can.
What's an investor to do? As the Tuesday deadline approaches for both Greece's repayment of €1.6 billion to the International Monetary Fund and the end of its loan program from the European Union, here's a roundup of analyst commentary on what to watch for in the markets:
U.S.-traded Greek ETF leans on financial sector, almost impossible to value
While markets in Greece are closed for the rest of this week, an ETF based on the Greek market fell by more than 16% in trading in New York Monday.
The Global X FTSE Greece 20 ETF was down 16.81% to $9.80 Monday afternoon, dragging it close to an all-time low. The fund is particularly risky given its 29% stake in financial firms -- a portion that is "quite high," according to Todd Rosenbluth, director of ETF and mutual fund research at S&P Capital IQ.
The fund includes Greek institutions such as the National Bank of Greece NBG and the National Bank of Greece. It's other holdings include the Coca-Cola Hellenic Bottling Company, the beverage giant's European branch operation, and phone service provider Hellenic Telecom.
"With the Greek stock market closed we think there is no easy [way] for investors to fully understand the value of the stocks inside this ETF," Rosenbluth said in an emailed statement.