ETF Securities has amended their original filing with the Securities and Exchange Commission (SEC) in order to launch a physically-backed gold tracking exchange traded fund (ETF) with custody in Switzerland.
Earlier this year, ETF Securities made filings to the SEC to launch ETFs tracking gold, silver, platinum and palladium, called the ETFS Gold, Silver, Platinum and Palladium Trusts, respectively. The platinum and palladium funds will be the first of their type available in the U.S. market.
Index Universe EU reports that as of July 2, the gold trust filed with the SEC to issue up to $1 billion in ETFS Physical Swiss Gold Shares. A sub-custodian in Zurich will be selected, and J.P. Morgan Chase will be the North American custodian. When the fund launches, it will be known as ETFS Physical Gold Shares (SGOL).
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