Merk Investments is close to launching an exchange-traded fund that will be backed by gold, and individuals who invest in this fund will have the option of taking physical delivery of their gold.
According to Reuters, California-based Merk recently submitted its regulatory filing with the US Securities and Exchange Commission (SEC) and the filing showed that the ETF will be named “Merk Gold Trust" and will trade on the New York Stock Exchange Arca platform.
Merk’s filing with the SEC did not specify the fund’s launch date, but it is customary to launch ETFs shortly after the registration filing has been completed. Merk is unable to comment on the fund, the filing or the launch date because Merk is currently under the SEC’s pre-launch “quiet period” and therefore cannot comment on the fund, the filing or the launch date.
The Merk Gold Trust ETF will provide investors with the ability to buy into the fund and then take delivery of American Eagle gold coins, Good Delivery gold bars and other gold bullion bars with a purity level of at least 99.5 per cent.
