Global X Funds, the New York based provider of exchange-traded funds, has launched the Global X Gold Explorers ETF.
This is the first ETF offering access to gold exploration companies.
"Gold exploration companies offer high risk-return characteristics with the potential to strike a gold mine, literally," says chief executive Bruno del Ama.
The ETF tracks the Solactive Global Gold Explorers Index, which is designed to track the performance of the largest and most liquid listed companies globally active in the exploration of gold.
"We believe an ETF is a fantastic structure to provide access to this segment of the gold mining industry," says Jose C. Gonzalez, head of operations. "This is the venture capital of gold, and GLDX offers the opportunity to capture the fantastic returns of one company striking gold while smoothing over the losses generated by failed projects."
Global X Funds will follow with a Global X Uranium ETF launch.