ETF Daily News reported that PureFunds has filed plans with the Securities and Exchange Commission to launch the first exchange-traded fund to exclusively track companies involved in the diamond/gemstone industry. The ETF is expected to begin trading on the NYSE Arca in the fourth quarter of this year.
Paul Zimnisky, CEO and co-founder of PureFunds, commented:
The PureFunds ISE Diamond/Gemstone ETF aims to track the supply/demand cycles of the rough and polished precious stone industry. The demand for diamonds and other gemstones has substantially increased over the past years as global investors look for hard assets as a potential safe haven from the degradation of fiat currency. Our mining service and silver explorer fund were also designed to leverage the increasing demand for hard assets like gold and silver.