Prospects for copper ETFs wilt under political pressure

Aug 02, 2013 | 01:03 PM | Mark Burton

Tags  copper, copper exchange-trade funds, ETFs, JPMorgan Chase, BlackRock, Goldman Sachs Group, Metro Internatiional Trade Services, Securities and Exchange Commission Federal Energy Regulatory Commission

LONDON — The likelihood of JPMorgan Chase & Co. or BlackRock Inc. launching controversial copper exchange-traded funds (ETFs) is fading rapidly amid intense scrutiny of bank activity in physical commodities markets.

JPMorgan has said it is exploring "strategic alternatives" for its physical commodities assets, which includes a warehousing business that will be critical to the performance of the ETF (, July 26).

Around the same time, Goldman Sachs Group Inc. confirmed that its warehousing company, Metro International Trade Services LLC, won’t act as a custodian servicing BlackRock’s iShares ETF, potentially derailing the asset manager’s plans to launch its own physical copper fund.....

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