The Royal Mint has listed its first gold ETC on the London Stock Exchange via white label platform HANetf.

The Royal Mint Physical Gold ETC (RMAU), which is the first gold ETP to be launched by a sovereign mint in Europe, has a total expense ratio (TER) of 0.22%.

The physical gold allocated to the ETC will be stored in the Royal Mint’s vault located in Cardiff.

RMAU is 100% backed by London Bullion Market Association (LMBA) Good Delivery bars which have been sourced on a best endeavour basis from its Responsible Sourcing programme.

Anne Jessopp, CEO of the Royal Mint, commented: “This launch is a significant milestone for The Royal Mint as we look to the future and diversify our business for the 21st century.”

Jatin Patel, head of wealth management at The Royal Mint, added: “Gold continues to be recognised as the world’s leading means of trading and storing wealth.

“As one of the UK’s most trusted organisations, we are excited to be able to offer investors yet another way of gaining exposure to gold while having the confidence that it is safely stored in our vault.”

HANetf’s co-founder Nik Bienkowski, who was involved with the launch of the world’s first gold-backed ETC, commented: “Gold ETCs have always been a popular way for investors to gain exposure to the gold price.”

Europe’s first white label platform has already been involved in Europe’s first cannabis ETF launch this year.

It partnered with Purpose Investments to unveil to the Medical Cannabis and Wellness UCITS ETF (CBSX) on 6 January.