Pent-Up Demand Is Behind Platinum Fund’s Success
Monday, January 18th, 2010Hard Assets Investor submits:
Last Friday, ETF Securities finally launched the U.S.’first physically backed platinum and palladium funds, more than eight months after first filing. And what a launch day they had: By the end of the first day of trading, assets in the ETFS Platinum Trust (NYSE Arca: PPLT) and ETFS Palladium Trust (NYSE Arca: PALL) swelled to over $100 million, with over 400,000 shares traded in PPLT and 295,000 shares traded in PALL.
It was a release of “pent-up demand” among U.S. investors, says Graham Tuckwell, founder and chairman of ETF Securities. The Europe-based provider, which specializes in commodity-based exchange-traded products, now has assets under management in excess of $15 billion worldwide.
