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).

The gold market is in an interesting state at this time, as many are anticipating gold prices to skyrocket, assuming inflation will set in.

There are two gold-backed ETFs currently trading in the United States: SPDR Gold Shares (GLD) and iShares COMEX Gold Trust (IAU), both of which are phenomenally popular.

For more stories about new ETFs, visit our New ETFs category.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.