It has been claimed that a platinum exchange-traded fund (ETF) in the US is unlikely to materialise in the near future.

Following the high-profile launches of platinum ETFs in London and Zurich, there had been some suggestions that the US would soon follow.

However, ETF Securities, which was the first to launch a platinum ETF, has announced that it is not preparing to list its fund in the US.

Speaking to Reuters, ETF Securities Chairman, Graham Tuckwell, said: "I am of the view that it would be difficult to obtain the SEC [Securities and Exchange Commission] approval and hence a listing of a platinum or palladium product in the US market."

Mr Tuckwell then went further, speculating that other companies would not be interested in introducing a platinum ETF into the US market, commenting: "I don't think there will be a listed platinum or palladium ETF in the United States."

Platinum mining companies had been concerned that the launch of a platinum ETF in the US would result in demand outstripping supply, causing prices for the precious metal to jump considerably.

Sources:
U.S. platinum ETF launch ruled out
25/05/07
http://www.reuters.com/article/reutersEdge/idUSL2528372920070525

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