The fund is the first U.S. physically backed exchange-traded product to invest in silver, platinum and palladium. The firm believes it will appeal to investors looking to diversify their gold holdings.
The bullion represented in the fund will be held in vaults by custodian JP Morgan Chase.
“WITE provides our investors with a cost-effective, one-ticker solution towards exposure into silver, platinum and palladium and offers a great complement to portfolios with existing gold and precious metals positions,” said Fred Jheon, head of product and business development at ETF Securities. “The new White Metals Basket was developed in response to wealth managers looking to diversify beyond just gold hold holdings.”