J.P. Morgan Commodity ETF Services has filed with the SEC to list on the NYSE Arca an exchange-traded fund based on physical ownership of copper, a
The fund, to be called JPM XF Physical Copper Shares, will invest only in Grade A copper in physical form and will issue shares representing units of fractional interest in and ownership of the copper.
The valuation agent for the copper owned by the fund will be
According to the registration statement, the shares are intended to “constitute a simple and cost-effective means of making an investment similar to an investment in copper. Although the Shares are not the exact equivalent of an investment in copper, they provide investors with an alternative that allows a level of participation in the copper market through the securities market.”
The filing is currently being reviewed by the
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