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Mirae Asset's spot gold ETF hits $2.5B in net assets

Published: 13 Feb. 2025, 18:28 Updated: 13 Feb. 2025, 18:29

SHIN HA-NEE
[email protected]

Gold bars are displayed at the Korea Gold Exchange in Jongno District, central Seoul, on Feb. 13. [YONHAP]

Mirae Asset Global Investments’ spot gold exchange-traded fund (ETF) reached $2.5 billion in net assets amid a global surge of bullion prices, the investment firm said Thursday.

Global X Physical Gold was launched in 2003 as the world’s first gold ETF by Sydney-based ETF Securities, which was rebranded to Global X Australia in 2022 after Mirae Asset Global Investments acquired the firm in 2021.

Global X Physical Gold, backed by physical gold, tracks the movement of the gold spot price. The ETF offers enhanced accessibility to gold investments, which are traditionally less liquid compared to securities due to storage and logistics costs.

Mirae Asset Global Investments also offers other gold-related ETFs including Global X Gold Yield — which incorporated a covered call strategy — and Global X Gold Producers, across key markets including the United States, Canada and India.

“Gold has increasingly solidified its position as a strategic asset, along with the dollar, amid persistent geographical tensions driven by the U.S.-China tariff war,” said Kim Young-hwan, head of Mirae Asset Global Investments’ innovation and global management division.

“Mirae Asset will remain committed to providing new investment opportunities to global investors based on our expertise in operating a range of gold ETFs across the world,” said Kim.

BY SHIN HA-NEE [[email protected]]