BlackRock May List Copper ETF Before JPMorgan

Reuters reported that the US Securities and Exchange Commission has approved a rule change that will allow BlackRock Inc. (NYSE:BLK) to list a copper-backed exchange-traded fund on NYSE Arca. This step forward means BlackRock’s ETF may be launched before that of JPMorgan Chase & Co. (NYSE:JPM).

As quoted in the market news:

The launch of copper ETFs are intended to give large U.S.-based funds easier access to the copper market, but some industrial users worry that such products will remove a large chunk of the metal from the market and inflate prices.

JPMorgan Chase & Co. ‘s rival product was approved about two months ago, but it has not yet listed due to objections from some in the copper industry.

Click here to read the full Reuters report.