“It came down to us both having similar ambitions to launch niche natural resource products not yet covered by ETFs,” Paul Zimnisky, CEO of PureFunds, said in the article.
In February, ISE and IndexIQ, a provider known for its alternative offerings, revealed that they were working on a line of physical commodities ETFs.
“We’re looking for anything that pushes the envelope in terms of how far ’40 Act products in a wrapper have gone so far,” Monaco added. “We’re looking at options-based ideas that can be packaged into an ETF.”
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Max Chen contributed to this article.