The palladium fund Global Palladium Fund, established by NorNickel, placed a digital exchange-traded instrument (ETC), backed by nickel with a neutral carbon balance, on the Vienna Stock Exchange (Wiener Börse). According to ForkLog, representatives of the company said.
The ETC, oriented toward institutional investors, has an overall expense ratio of 0.75%. Minimum investments amount to $100,000.
Information about the origin, ownership and storage of the metal is recorded on the Hyperledger blockchain to ensure transparency and security of the assets.
The carbon credits backing the ETC were obtained through NorNickel’s reductions in carbon emissions in the 2019/2020 financial year. The methodology used to calculate the metrics has been verified by international auditors Ernst & Young and Sphera.
The world’s largest producer of platinum, palladium, and high-grade nickel—and a leader in copper production—created Global Palladium Fund to broaden its global distribution capabilities.
The fund’s current portfolio comprises six tokens backed by reserves of metals produced by NorNickel. The liquidity of the assets is provided by Flow Traders.
Earlier, in January, GPF issued digital exchange-traded instruments linked to palladium, platinum, gold and silver on Deutsche Börse.
In June, nickel- and copper-backed ETC were added to listings on the London Stock Exchange and Borsa Italiana.
In December 2020, the fund issued the first tokens to transfer into digital form part of the contracts of a mining-and-metallurgical company with industrial partners.
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