13-02-2025
Mirae Asset's spot gold ETF tops $2.5b in net assets
The spot gold exchange-traded fund operated by Global X Australia has garnered over $2.5 billion (3.6 trillion won) in net assets, backed by rising demand for the safe-haven precious metal, Mirae Asset Global Investments announced Wednesday.
Global X Physical Gold is a spot gold ETF operated by Global X Australia under South Korea's leading asset manager, Mirae Asset Global Investments. Launched in 2003 by then-ETF Securities, the fund was the first ETF tied to the gold spot price.
Global X Physical Gold has broadened access to gold investing in the global ETF market, Mirae Asset Global Investments said in a press release.
Though the yellow metal, when held as a physical asset, is considered to have limited liquidity due to the costs of transportation and custody, the ETF has enabled convenient and low-cost gold investing.
With US President Donald Trump's tariff policies kicking in, the price of gold has soared in recent months to a record high, appreciating as a safe-haven asset that can hedge against uncertainties.
Betting on the steady growth of the asset, Mirae Asset Global Investments offers a wide lineup of gold-linked ETFs across the US, Canada and India. Global X Gold Yield is a covered-call ETF and Global X Gold Producers offers exposure to companies involved in the gold mining industry.
"With the ongoing geopolitical tension sparked by the US-China tariff war, gold has been maintaining its presence as a strategic asset along with the US dollar, which is a key currency," said Kim Young-hwan, head of the innovation and global management division at Mirae Asset Global Investments.
"Based on know-how in operating diverse gold-linked ETFs around the world, Mirae Asset will continue to offer new investment opportunities to global investors."
Meanwhile, the asset manager highlighted Global X Australia is a big name in the country's spot commody ETF market. Apart from Global X Physical Gold, the asset manager also operates Global X Physical Silver and Global X Precious Metals Basket, tied to gold, silver, palladium and platinum.
