This Exists: A Rhodium ETF - Business Insider

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US Markets Loading... h m s Close icon Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification. Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Homepage Newsletters Account icon An icon in the shape of a person's head and shoulders. It often indicates a user profile. Log in Subscribe Markets This Exists: A Rhodium ETF Joe Weisenthal 2011-05-27T18:54:36Z Share icon An curved arrow pointing right. Share Facebook Icon The letter F. Facebook Email icon An envelope. It indicates the ability to send an email. Email Twitter icon A stylized bird with an open mouth, tweeting. Twitter LinkedIn icon LinkedIn Link icon An image of a chain link. It symobilizes a website link url. Copy Link lighning bolt icon An icon in the shape of a lightning bolt. Impact Link Save Article Icon A bookmark Save Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in.

From Canaccord Wealth Management's "Morning Coffee" word of a brand new ETF:

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The first of its kind...This week, Deutsche Bank announced a Physical Rhodium ETF (XRHO: LN). The product is 100% backed by physical rhodium and is designed to track the U.S. dollar spot price less fees. A note from the bank indicates that this ETF allows investors to directly access rhodium spot returns in a “simple, secured and liquid manner.” The ETF is linked to the rhodium spot price and is back by allocated rhodium. The global rhodium market in only 750,000 oz of demand per year – or $1.5 billion. Therefore, with the new ETF opening up the relatively illiquid market to speculators, a significant rise in the price of rhodium could be just around the corner. Rhodium is primarily used (80% of demand) in three-way catalysts (for engines), and some are speculating that since the announcement of the rhodium ETF the automobile producers have likely been in the market buying as much rhodium as they can – explaining the recent uptick in the rhodium price. In relation to producers, rhodium accounts for approximately 10% of PGM production and even more on a revenue basis due to the rhodium price being higher than the PGM basket price. A spike in the rhodium price could be a material boost to earnings for PGM producers.

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Rhodium wikipedia http://en.wikipedia.org/wiki/File:Rhodium_78g_sample.jpg

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