Although platinum is not as heavily traded as gold or silver, it is the third-most traded precious metal in the world and it is more scarce than its more popular rivals. Industry observers also believe that platinum companies have overextended operations during the commodities boom in prior years and have suffered from an oversupplied market as a result.

GraniteShares is disrupting the commodities ETF space with lower fees. For example, the firm introduced the GraniteShares Gold Trust (NYSE Arca: BAR) last year. BAR has an annual fee of just 0.2%, making it the cheapest gold ETF in the U.S. BAR debuted in August and has over $12 million in assets under management.

“In seeking to demonstrate its commitment to platinum as an investment asset, GraniteShares entered into an agreement with the World Platinum Investment Council (WPIC), a global market authority on physical platinum investment, to fund the development and launch of PLTM,” according to the statement.

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