Do the creators of the SPY etf intend for the SPY to trade at 1/10th the price of the SP500 index price? Or is this just a coincidence?

Thanks,

Blackgrey45

It is intended to be 1/10th.

https://www.sec.gov/answers/spiders.htm

blackgrey45 

Do the creators of the SPY etf intend for the SPY to trade at 1/10th the price of the SP500 index price? Or is this just a coincidence? Thanks, Blackgrey45

It is intended that way as well as to replicate returns of the Underlying SP500 Index.