The Royal Mint, which traces its history back more than 1,100 years, is launching a gold backed exchange traded commodity, which will become its first listed financial product.
The fund is expected to list in the UK, Italy and Germany in early 2020. It has been designed with help from HANetf, the white label Ucits ETF issuer.
The physical gold backing the ETC will be stored at The Royal Mint's vault. It is intended to complement an existing range of physical precious metals products including gold, silver and platinum bars and coins, as well as the 'Signature' product available online.
Anne Jessopp, CEO of The Royal Mint said: "This is a milestone moment for The Royal Mint as we prepare to launch our first financially listed product, and reinvent what it means to be a mint in the modern age. Over recent years The Royal Mint has successfully launched a range of precious metals products as we look to reinvent our business, and appeal to new customers. This gold backed ETC marks an exciting new chapter for The Royal Mint, and for the historic business of gold trading. For thousands of years, gold has been recognised worldwide as the ultimate means of trading and storing wealth, ensuring a level of confidence, trust and security with each transaction with The Royal Mint."
Nik Bienkowski, co-founder and co-CEO at HANetf, said: "We are very excited to confirm our partnership with The Royal Mint. This is a huge milestone for both organisations and is testimony to the vision and innovative spirit of the Royal Mints' leadership team, who recognised early on the opportunities in ETCs."