The Swiss Gold fund backs each share with one-tenth of an ounce of gold stored in Switzerland and tracks spot gold prices.
It is being launched at an auspicious time, as many investors fear inflation. Globally, gold ETF holdings of the bullion have surged 42% to 54.23 million ounces since the beginning of the year.
The other two gold ETFs on the market are the $34.7 billion SPDR Gold Shares and the $2.4 billion iShares Comex Gold Trust.