Glencore, Credit Suisse Eye Aluminum ETF
Glencore International, the world’s biggest commodity trader, and Credit Suisse (CS) are in advanced discussion about creating the world’s first physically backed aluminum (AL) exchange traded fund (ETF), four industry sources across Asia said on Thursday.
While they say a launch is not yet imminent, interest in physically backed commodity products is widely expected to grow as tougher U.S. regulation on futures contracts threatens to shift investment flows toward exchange-listed physical ETFs….One trade source said such an ETF could be announced as soon as the London Metals Exchange (LME) Week event next month, but a second source said a launch this year appeared highly unlikely.
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