Diamond ETF Nears Launch

Seeking Alpha reported a diamond-backed exchange traded fund is one step further in the making as a financial firm seeks to commoditize diamonds.

As quoted in the market news:

According to a U.S. patent office filing, GemShares is trying to create a method of standardizing baskets of gems to be used in financial and commercial products. Diamonds come in the “four Cs” of carat, collar, clarity and cut, and the GemShares method will create a benchmark basket that arranges diamonds in 10 layers of comparable quality and value.

Click here to read the full Seeking Alpha report.