State Street Global Advisors (SSGA) has launched one of its gold ETFs on the Japanese market.
The SPDR Gold MiniShares ETF (GLDM) has been cross-listed on the Tokyo Stock Exchange with a total expense ratio (TER) of 0.18%.
GLDM is physically backed and offers Japanese investors a low-cost way of gaining exposure to the gold market.
The ETF was initially launched in the US in June 2018 in partnership with the World Gold Council.
Rory Tobin (pictured), head of SPDR ETFs at SSGA, commented: “In the current climate of political and market uncertainty, and with inflation expectations low, the opportunity for Japanese investors to take advantage of the diversification benefits of GLDM will be especially timely.”
Joe Cavatoni, managing director USA at the World Gold Council, added: “Our research indicates that investor appetite for gold-backed ETFs continues to increase, with global assets reaching all-time highs in September.”
SSGA now offers 52 ETFs on the Japanese market.