NEW: As predicted by the ETF Business Review back in 2011, JP Morgan nails a revolutionary permission from SEC to launch the first physical copper ETF
For those of you subscribers of the ETFBR, the news are great. As Rob Ivanoff predicted back in May, JP Morgan has just received a green light, to launch the first physical copper ETF in the world. Expect iShares to also get a green light, as they have filed for a similar ETF - but theirs will hold twice the size requested by JP Morgan (still, Mr. Dimon shoots faster than Larry Fink these days). J.P. Morgan’s copper trust is looking to register 6.19 million shares, or 61,800 metric tons, of copper. The trust will hold “grade A” copper in physical form, and hold no copper futures. The copper will be stored in LME -approved warehouses in the Netherlands, Singapore, South Korea, China and the U.S.
BREAKING NEWS: SEC to allow derivatives in active ETFs (AETFs) as predicted by Rob Ivanoff in the ETF Business Review for nearly 5 years; the fund industry is now on a NEW course in terms of distribution, economics, investing in ETF know-how
The big news are out: SEC will allow derivatives in active ETFs. This is a revolutionary development and it will serve as a catalyst behind the most amazing transformation of the fund business. (to read SEC's speech click here)
What does this mean for the fund industry?
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