ETF Securities has reported that its platinum exchange-traded fund (ETF) has proved popular with investors since it was launched on April 24th.

The company has revealed that its physically backed platinum ETF has attracted investment equivalent to 11,942 ounces of platinum in the month since it was launched.

Nik Bienkowski, Head of Listings and Research at ETF Securities, said there has been "a lot of interest" in the five physically backed ETFs based on precious metals launched by the company and investment has totalled $53.5 million.

In an interview with Reuters, Mr Bienkowski said if investment in the funds, listed in the UK, Germany, the Netherlands and France, continues at the current rate it will reach $660 million by the end of the year.

The success of ETF Securities has led to speculation that further ETFs will be established, despite worries from platinum miners that the funds could cause demand for platinum to outstrip supply.

Sources:
ETF Securities platinum fund holds 11,942 ounces
22/05/07
http://africa.reuters.com/business/news/usnBAN247082.html

Ÿ Adfero Ltd