Related: Gold Miners ETFs Can Keep Glittering
Many gold bugs have looked at physically backed gold ETFs with skepticism, speculating on the authenticity of the gold stored in vaults for the bullion-backed ETFs. Some investors have also raised concerns that these gold ETFs don’t have sufficient amount of gold stored to cover the shares traded. The Merk gold ETF could help alleviate concerns with greater transparency. Each share of OUNZ is equivalent to 0.010 ounces of gold.
“We increasingly see investors drawn to OUNZ not only for the simple ETF access it provides to gold, but also its unique feature that enables investors to take delivery of their gold,” Brandon Rakszawski, ETF Product Manager for VanEck, said in a note. “We believe the fee reduction will benefit shareholders long-term.”
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