JPMorgan will be launching a physical copper exchange-traded product indicating a bullish sentiment for the price of the metal going forward. The filing was made late Friday to the U.S. SEC (Securities and Exchange Commission) with a start date yet to come.
The product is a way for institutional and retail investors to invest in the physical copper market through exchange traded securities. The fund will be backed by physical copper in storage facilities. Andy Kibbens said "This is extremely bullish for copper prices as the metal reaches all time highs. I am confident copper prices will blast through the previous highs as these new types of investments will increase demand"
