INSTITUTIONAL TRADERS: If I have 50,000 shares of an ETF can I redeem the shares of the ETF without taxes for the underlying?

Say you have enough shares to carry out a redemption or creation unit yourself for an ETF. Can you “swap” ETF shares for underlying without paying capital gains tax? The AP’s do it, why not regular people?

Just curious, thanks!

Quotes by Warren Buffett to hit the minimum:

Be fearful when others are greedy, and be greedy when others are fearful.

It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.

Price is what you pay; value is what you get.

Big opportunities come infrequently. When it’s raining gold, reach for a bucket, not a thimble.

You don’t get paid for activity, you only get paid for being right.