With the Dow Jones reaching record heights earlier this week, everyone on Wall Street is looking to bring in the funds before the bull run ends. Even the effects of the sequester have yet to hit the market, as issuers and investors alike push to get into the market. Van Eck is leading the charge this week by filing for two separate gold and silver funds with the SEC [see ETF Database Launch Center].
Industry veteran Van Eck has filed for two trusts that will individually be focused on holding physical shares of silver or gold bars:
- Market Vectors Redeemable Gold Trust and Redeemable Silver Trust: These ETFs will be identical in process and strategy, but holding two different precious metals. As stated in the Gold SEC filing, the primary objective is for the shares to reflect the performance of the price of each metal. The secondary objective is to provide investors with an opportunity to invest directly in each precious metal by being able to to take delivery of both metals through their respective bullion in exchange for their shares of the ETF. [Make sure to read up on the differences between Precious Metal ETFs: Physical vs Equity Exposure].
Disclosure: No positions at time of writing.