ETF Securities can now double the number of shares it offers through its platinum and palladium exchange-traded commodities (ETCs), it has been confirmed.

The US Securities and Exchange Commission announced last week that the company can now provide 11.22 million shares for its platinum ETC, a rise of 6.44 million.

In addition, government filings revealed that the palladium product will now contain 18.8 million shares, representing an increase of 5.92 million from the previous total.

William Rhind, Strategic Director of Business Development in the US for ETF Securities, explained that the products have proved particularly popular since their launch in New York in January.

"We've seen strong demand because we are unique in the US market," he told Bloomberg.

"If anyone wants to invest in platinum or palladium, this is a way for the investors to access the underlying market."

Holdings in the ETFS Platinum Trust and ETFS Palladium Trust products were at 735,557.58 oz and 1,312,380.61 ounces respectively on 26th May.

ETF Securities joined forces with the World Gold Council in 2003 to offer the world's first ETC and gold exchange-traded fund, Gold Bullion Securities, in Australia.

Source:

ETF Securities Approved to Sell More Platinum, Palladium Shares (28/05/10)

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