JPMorgan Wins Approval for First U.S. Physical Copper ETF
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JPMorgan Chase & Co. won regulatory approval for the first U.S. exchange-traded fund backed by physical copper, which some industrial users said may disrupt the market.
The proposed rule change by NYSE Arca Inc. to list JPM XF Physical Copper Trust was approved, the regulator said in an order on its website dated Dec. 14. BlackRock Inc. and ETF Securities Ltd. also have said they plan to start physically backed ETFs for industrial metals in the U.S.