the plot thickens on Silver ETF
Barclays Global Investors was still awaiting regulatory approval from the U.S. Securities and Exchange Commission for its iShares Silver Trust, the asset management arm of Barclays Plc (BARC.L: Quote, Profile, Research) said on Thursday, denying a report that its application was rejected.
A spokeswoman for the leading exchange-traded fund (ETF) provider said there had been no change to the status of the trust since an amended SEC filing was made earlier this month.
Barclays first filed in June for approval for the trust, to be backed by silver bullion stored in vaults in London.
The report on Thursday from an energy and commodities news wire service said the SEC turned down Barclays's application.
"The rumor is false," the spokeswoman said. "There is no news to report. Nothing has happened with the filing."
Barclays has said the timing of any possible approval of the silver trust would be up to the SEC. It took roughly a year to bring Barclays' gold ETF to market after its filing.
Barclays has been exploring a range of commodity products as investors were increasingly expressing interest in diversifying portfolios.
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