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ETF Securities issues additional shares for platinum and palladium ETFs

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ETF Securities is issuing additional shares in its platinum and palladium exchange traded funds, PPLT and PALL.

The number of shares registered for PPLT will increase from 4.78m to 11.22m effective May 26, 2010, while he number of shares registered for PALL will increase from 12.88m to 18.8m effective from the same date.

Total assets for PPLT and PALL now equal USD871m with total assets across all four of ETFS’s physically-backed precious metals ETF products now exceeding USD1.5 billion as of May 27, 2010.

ETFS Platinum Trust (PPLT) and ETFS Palladium Trust (PALL) are both backed by Platinum and Palladium allocated bullion in plate and ingot form stored in secure vaults in London & Switzerland by the Custodian, JPMorgan Chase Bank, one of the world’s leading Custodians for precious metals.

“Since launch in January of this year, PPLT and PALL both continue to be popular new products,” says Fred Jheon, Head of Product and Business Development of ETFS Marketing. “We are pleased with the consistent asset gathering and trading volumes to date and having additional shares made available will help facilitate this demand across the spectrum of investors.”

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