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ETF entrepreneur William Rhind launches GraniteShares

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GraniteShares, an exchange traded fund (ETF) company led by established ETF entrepreneur William Rhind as founder and CEO, says it is aiming to bring a suite of exciting ideas to market.

 
The firm’s initial offering is two flagship commodity ETFs which are now trading on the New York Stock Exchange: the GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF (COMB); and the GraniteShares S&P GSCI Commodity Broad Strategy No K-1 ETF (COMG).
 
These ETFs are benchmarked to the Bloomberg Commodity Index and S&P GSCI Index, respectively. The funds are structured as 40 Act funds, do not issue K-1s, and are two of the lowest cost broad commodity ETFs in the US market with total fund operating expenses of 0.25 per cent and 0.35 per cent, respectively.
 
Rhind, whose team has almost 50 years of collective experience, was formerly a principal at iShares and one of the original team members in Europe. He also served as head of ETF Securities in the US and CEO of the world’s largest commodities fund, the SPDR Gold Shares ETF.
 
Benoit Autier, whose previous experience includes product management at ETF Securities, is the head of products. Kristen Winther, previously at MSCI and Horizons ETFs, is the director of product development. Jeff Klearman, coming from Rich Investment Solutions and Deutsche Bank, serves as the firm’s portfolio manager.
 
“I’m thrilled to officially launch GraniteShares. It’s been an incredible effort by the team to get our company and funds ready for today. GraniteShares is the culmination of our collective experience in the ETF business so far and our dreams for what it can be in the future,” says Rhind. “With these new ETFs, COMB and COMG, we’re aiming to re-establish the benchmarks for commodity investing in the United States. We feel investors have been overpaying for commodity ETFs for too long. GraniteShares wants to change that. Investors can now access funds with benchmarks to the Bloomberg Commodity and S&P GSCI indexes.”
 
The company secured venture capital financing from Bain Capital Ventures and other well-known investors.

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