ETF Securities launches white metals fund

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ETF Securities has unveiled the Physical White Metals Basket Shares (WITE) on NYSE Arca.

The company says it is the first US product to offer silver, platinum and palladium under a single ticker. The fund invests in the metals at a ratio of 1oz silver, 0.01oz platinum and 0.008oz platinum, held in vaults in either London or Zurich with JP Morgan Chase Bank as custodian. Coming on the heels of its Physical Precious Metal Basket Trust (GLTR) listing, ETFS says the fund is expected to appeal to investors looking for a precious metal play more geared to the economic growth cycle. Unlike gold, which is included in GLTR but not the new WITE fund, the white metals' demand pro...

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