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Thursday, 19th November 2009 (5814 views)

The first exchange traded fund (ETF) for gold to be listed in the United States has celebrated its fifth anniversary at the New York Stock Exchange (NYSE).

SPDR Gold Shares, which carries the ticker symbol GLD, was launched in 2004 by World Gold Trust Services.

It was the first ETF to be backed by a physical asset and the first to track a commodity. It was also one of the fastest-growing ETFs ever, attracting more than $1 billion (£598 million) in its first three days of trading and has more assets than the next five ETFs launched in this timeframe combined.

As of November 16th, assets held in the SPDR Gold Shares fund topped $40 billion.

James Ross, senior managing director at State Street Global Advisors, said: "SPDR Gold Shares is considered one of the industry's most innovative and influential ETFs, having made gold's unique investment properties accessible for a broader investor base."

To mark the fifth anniversary of the SPDR Gold Shares, representatives of the World Gold Council and State Street Global Advisors rang the NYSE's opening bell.

GLD is listed on the NYSE Arca, the Bolsa Mexicana de Valores and the Singapore, Tokyo and Hong Kong stock exchanges.

 

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