A new precious metals exchange-traded fund (ETF) should be arriving in the US market in the near future, it has been confirmed.
ETF Securities currently has four ETFs in the country but is keen to increase its presence by introducing 18 commodities-based ETFs and a white metals basket ETF.
According to a filing with the Securities and Exchange Commission, the latter product will be backed by holdings of silver, palladium and platinum.
"The demand for commodities will last as people seek a safe haven that isn't in the form of paper," commented Will Rhind, Strategic Director at ETF Securities, in an interview with Investment News.
Mr Rhind also noted that palladium and platinum, which are used in catalytic converters in cars, will prove to be a popular and worthy investment as auto sales continue to recover around the world.
Earlier this year, ETF Securities listed the first-ever American ETFs to be physically backed by the two metals on the New York Stock Exchange.
