SPDR Gold MiniShares surpasses USD1bn in assets

Assets in the SPDR Gold MiniShares Trust (GLDM) have surpassed US USD1 billion. Launched on June 26, 2018 to meet demand from investors who place a greater emphasis on a lower share price and expense ratio, GLDM has attracted USD519 million of net new inflows year-to-date.

“The combined resources of the World Gold Council, a leading authority on all aspects of the gold market and State Street Global Advisors, a pioneer in ETF investing, provides gold investors with compelling investment offerings and robust research and thought leadership on the role of gold in a portfolio,” says Matthew Bartolini, Head of SPDR Americas Research at State Street Global Advisors. “Our low-cost gold ETF with a share price hovering around USD15, GLDM has resonated with financial advisors, digital advice platforms and buy-and-hold retail investors.”
 
In November 2004, the World Gold Council and State Street Global Advisors democratised gold investment for investors with the launch of SPDR Gold Shares (GLD), the first US-traded gold ETF and the first US-listed ETF backed by a physical asset. GLD remains the largest and most liquid gold ETF in the market with approximately USD43.2 billion in total net assets and USD5.23 billion of net new inflows year-to-date.
 
“We are thrilled that the product has now passed US USD1 billion in AUM,” says Joe Cavatoni, Head of US, World Gold Council. “Working with State Street Global Advisors, we brought GLDM to market as a complement to GLD to further expand access to gold. “The continued momentum of both GLDM and GLD suggests that investors have embraced gold’s potential to be a source of liquidity and diversification.”