BlackRock Asset Management is planning to launch a physical copper exchange-traded fund (ETF), The Wall Street Journal reports. The iShares Copper Trust ETF will be unveiled with the help of the warehousing arm of Goldman Sachs.
The portfolio will be backed by London Metal Exchange warrants. Each basket will comprise 2,500 shares of 25 metric tons of copper. The custodian for the metal will be Goldman’s warehousing unit, Metro International Trade Services.
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