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Unique Diamond-backed ETF Awaiting SEC Approval
Jul. 15, 2013 10:49AM PST
Gem Investing
Bloomberg reported that one exchange-traded fund (ETF) waiting for approval from the Securities and Exchange Commission (SEC) is the IndexIQ Physical Diamond Trust, a unique fund that would store diamonds in a small Antwerp-based vault.
Bloomberg reported that one exchange-traded fund (ETF) waiting for approval from the Securities and Exchange Commission (SEC) is the IndexIQ Physical Diamond Trust, a unique fund that would store diamonds in a small Antwerp-based vault.
As quoted in the market news:
The closest thing out there is the PureFunds Diamond/Gemstone ETF (GEMS), which tracks companies involved in the diamond business.
The biggest question here: How to value diamonds and make a net asset value investors can believe in? If the ETF can answer that question and establish a logical system, it could be attractive to commodity investors looking for an alternative to gold.