JPMorgan To Launch Copper ETF

JPMorgan Chase JPM has filed plans with the SEC to launch an exchange traded fund backed by physical copper. The bank's warehousing unit, Henry Bath Group, will handle storage and transportation of the copper. JPMorgan did not give a start date for the fund or a ticker. The news comes on the heels of the debut of ETF Seucrities' ETFS Precious Metals Basket Shares GLTR, an ETF backed by physical gold, silver, palladium and platinum. RUSAL expects to debut an aluminum-backed ETF in the next three months as well. The J.P. Morgan Physical Copper Trust will trade on the New York Stock Exchange.