It’s been a long wait, but finally U.S. investors have the physically-backed platinum and palladium exchange traded funds (ETFs) they’ve long been clamoring for.

ETF Securities, which has offered a physically-backed platinum fund in Europe, has launched two similar funds here:

  • ETFS Physical Platinum (NYSEArca: PPLT)
  • ETFS Physical Palladium (NYSEArca: PALL)

Already, Reuters has noted that trading volume has been robust on their first day.

Each trust will custody all of the physical metal in plate and ingot form in a secure London Platinum Palladium Market-approved vault. The metal in the vault will undergo a bi-annual audit from an independent specialist, and ETF Securities’ website will contain all the identification numbers and audit information.

Platinum and palladium have a range of precious metal attributes, but they’ve also got a range of industrial applications. Most notably, they’re used in the automobile industry in catalytic converters, which remove emissions. As the green energy sector gains momentum and auto sales recover, platinum and palladium are in a strong position to benefit.