Prospects for copper ETFs wilt under political pressure
Aug 02, 2013 | 01:03 PM
| Mark Burton
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 (amm.com, July 26).
Around the same time, Goldman Sachs Group Inc. confirmed that its warehousing company, Metro International Trade Services LLC, wont act as a custodian servicing BlackRocks iShares ETF, potentially derailing the asset managers plans to launch its own physical copper fund.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.