SEC approves BlackRock copper ETF
Feb 25, 2013 | 10:38 AM
| Andrea Hotter
Tags
SEC,
Blackrock,
ETF,
copper,
JPMorgan,
Carl Levin,
andrea hotter
NEW YORK — The U.S. Securities and Exchange Commission (SEC) has given asset manager BlackRock Inc. the go-ahead to list and trade shares in a physical copper exchange-traded fund (ETF).
The trading and markets division of the SEC said it will allow the New York Stock Exchange (NYSE) to amend its rules so the proposed ETF can list and trade on the exchange.
The move follows the SEC’s approval of JPMorgan Chase & Co.’s copper ETF in December, a decision that is being contested in the U.S. Court of Appeals by two large copper consumers, Southwire Co. and Encore Wire Corp. (amm.com, Feb. 13).....
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