Metals funds use blockchain

The Global Palladium Fund (GPF), founded in 2016 by Norilsk Nickel, has launched four physically-backed metal Exchange Traded Commodities (ETCs).

The fund claims to have the lowest charges in the European marketplace with total expense ratio ranging from 0.145% to 0.20%.

The fund is the first to use blockchain technology to record bar information, providing an extra layer of security and proof of ownership to the Issuer. The use of blockchain is in addition to the traditional recording processes.

Targeting family offices, wealth managers, institutional and other professional investors, the new physically-backed gold, silver, platinum and palladium ETCs will track the spot price of the respective metals. They have been listed by the issuer, Ridgex, on Deutsche Börse on 18 January 2021, with further listings in Europe expected. 

The ETCs have a strong focus on Environmental, Social, and Corporate Governance. London Bullion Market Association approved metal will be sourced from producers and suppliers who support the Sustainable Development Goals of the UN 2030 Agenda and other global initiatives in sustainable development and responsible mining.