The World Gold Council
and State Street Global Advisors (SSgA)
are readying to launch gold-based exchange-traded fund streetTRACKS Gold Trust, reports
the Financial Times
. The World Gold Council is sponsoring the fund and SSgA will market and distribute the fund.
The fund is expected to list on the New York Stock Exchange by the end of the year. Reuters reported
that the fund will begin trading as early as next week.
UBS sold its two streetTRACKS ETFs to SSgA in July.
Barclays Global Investors
filed an application for a gold-based ETF called the iShares Comex Gold Trust earlier this year. BGI's fund will track gold futures traded on the Comex division of the New York Mercantile Exchange.
Stay ahead of the news ... Sign up for our email alerts now