Nornickel subsidiary Global Palladium Fund (GPF), recently announced that it has launched ETC for nickel and copper on the London Stock Exchange (LSE) to give markets unique access to low-cost base metals investment opportunities.
The Exchange Traded Commodities(ETCs) are attractively priced with the annual total expense ratios of 0.85% for the copper ETC and 0.75% for the nickel ETC. This makes ETCs a cost-effective way for European-based venture capitalists to achieve exposure to the metals via an exchange-traded product as they seek to take advantage of the energy transition trend.
"GPF is committed to democratizing investment in precious and base metals. The new physical copper and nickel ETCs benefit from our low pricing, enhanced transparency and security and sustainable supply source." commented Alexander Stoyanov, CEO, Global Palladium Fund.
Source: GPF
The move follows the launch of GPF’s physically-backed, low-cost gold, silver, platinum and palladium ETCs at 2021 begining. All of the six physically-backed metal Exchange Traded Commodities (ETCs) list today on Borsa Italiana, which is the largest listing of its kind..
Nornickel, the globe's largest producer of palladium and high-grade nickel and a major producer of platinum and copper, said that Global Palladium Fund is the first ETC issuer to use Blockchain technology to offer investors with augmented transparency and security in their metal ETCs by recording bar data into distributed ledger technology. "The new nickel and copper ETCs will track the respective LME cash prices. The metal backing GPF ETCs is stored in secure warehouses in Rotterdam."
Nornickel said that GPF makes use of IBM’s Hyperledger Blockchain in the custody chain of the metal. It records bar and cathode information on the blockchain to accommodate clear ownership and an immutable custody chain for investors using the ETCs.