The Tokyo Stock Exchange plans to launch the nation’s first bullion-backed, gold exchange-traded fund on June 30, in a bid to draw more investors and help enhance Tokyo as a financial center.
The exchange announced today that SPDR Gold Shares ETF, which is sponsored by a subsidiary of the World Gold Council, will be offered to investors and the end of the month. SPDR Gold Shares ETF is currently traded on the New York Stock Exchange as well as bourses in Mexico and Singapore.
The Tokyo bourse has been studying the possibility of listing such ETFs as a means of offering a broader variety of listed financial products and attract more investors.
A bill passed by Japan’s parliament last week allowed for the creation of ETFs for commodities, and made it possible for banks and other firms to engage in emissions trading.
– luke
