State Street Global Advisors’ newly launched StreetTracks Gold Trust exchange-traded mutual fund attracted $550 million of assets hours after making its debut Thursday morning on The New York Stock Exchange, CBSMarketWatch reports.

The ETF’s share price slipped 0.1%, but the modest decline failed to dampen investors’ enthusiasm for the first low-cost fund offering access to diversified gold holdings. Increments of 100,000 shares of the fund, which are priced at 10% of the price for an ounce of troy gold, can be redeemed into gold bullion.

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