Merk Readies Redeemable Gold ETF

ETF Trends

Merk Investments may soon launch a gold ETF that would allow shareholders to take physical delivery of the underlying buillion.

The firm in an amended registration filing said Merk Gold Trust will be listed under the ticker symbol “OUNZ” on NYSEArca, Reuters reports.

“The filing did not specify when exactly the fund will be launched. Funds tend to start trading shortly after they amend their registration filings to provide more current details,” according to the report. “Investors who wish to redeem shares to take physical delivery can do so by paying the Trust processing fees, the filing said.”

Sprott Physical Gold Trust (PHYS) allows investors to redeem large blocks of shares in exchange for physical gold stored in Canada.

Van Eck’s Market Vectors has also filed gold and silver ETFs that would allow investors to redeem shares for the physical metal. [Planned Van Eck ETFs Allow Delivery of Gold, Silver]

Existing gold ETFs such as SPDR Gold Shares (GLD) saw record outflows in the first quarter as the metal’s price slumped. [Gold Falls Amid ‘Steady, Large’ Outflows from Bullion ETFs]

Full disclosure: Tom Lydon’s clients own GLD.

The opinions and forecasts expressed herein are solely those of John Spence, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.

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