Absa Capital Plans March 27 Launch of Palladium-backed ETF

Reuters reported that Absa Capital plans to launch a palladium-backed exchange-traded fund (ETF) next week, on March 27. ETFs backed by precious metals have grown increasingly popular over the last few years.

As quoted in the market news:

‘We’ll be listing the fund on Thursday,’ Absa’s head of exchange-traded products Vladimir Nedeljkovic said.

Absa already operates the world’s largest platinum-backed ETF, NewPlat ETF, which listed in April last year. Within four months it had grown to be the biggest fund of its kind in the world, currently holding more than 944,000 ounces of metal.

Click here to read the full Reuters report.