ETF Securities: Palladium, Platinum ETFs Closer to Becoming a Reality

Michael Johnston submits:ETF Securities, the European ETF giant that has now accumulated more than $2 billion in U.S. ETF assets, announced the latest addition to its product line on Friday. The ETFS Physical Precious Metal Basket Shares (GLTR) will be the first U.S.-based, physically backed precious metal basket ETP.

Michael Johnston submits:Perhaps no corner of the ETF market has exploded as rapidly as the precious metals space, as the democratization of an asset class previously off limits to many investors has resulted in billions of dollars in cash inflows. The SPDR Gold Trust (GLD) is now the second-largest ETF by total assets, with more than $53 billion under management.

Michael Johnston submits:When ETF Securities finally cleared the last of the regulatory hurdles last year and geared up to introduce the first physically-backed platinum and palladium ETFs, investor interest quickly surged. Although futures-based exposure to platinum had been available for several years, exposure to physical bullion prices represents an entirely different asset class–apparently one that investors were eager to access.

Michael Johnston submits:After weeks of anticipation, the first ETFs offering U.S.

Michael Johnston submits:In recent weeks, news that London-based ETF Securities is preparing to launch physically-backed platinum and palladium ETFs rolled through the financial markets, causing tremendous excitement among bulls and inflation bugs alike and sending prices of these metals soaring in anticipation.

ETF Database submits: As the U.S. economy continues to struggle and more intervention from the Fed seems inevitable, the dollar has been battered in currency markets. The greenback has already lost close to 8% over the past few months against the world’s other major currencies, and while a Chinese rate hike earlier this week helped to temporarily stem the losses, the downward has now resumed.

Kevin Grewal submits: As the appeal for precious metals continues to prevail, ETF provider ETF Securities, announced that its newest product, the ETFS Precious Metals Basket (GLTR), will begin trading on the NYSE Arca tomorrow.

Michael Johnston submits:ETF Securities, the London-based firm that holds a big slice of market share on the European ETF scene, has established itself as a formidable player in the U.S. market in its first year in the game.