South Korea’s Mirae Asset Global Investments announced on Feb. 12 that its Australian affiliate’s ‘Global X Physical Gold,’ the world’s first physical gold ETF, had topped $2.5 billion in net assets.

‘Global X Physical Gold,’ which is managed by Global X Australia, is Mirae Asset’s Australian ETF subsidiary.

Originally launched in 2003 by ETF Securities, the predecessor of Global X Australia, this ETF has gained strong traction among local investors, growing into a $2.5 billion fund.

The ETF has been credited with broadening gold investment opportunities not only in Australia but also in the global ETF market. Traditionally, gold has been considered a less liquid asset because of the costs of storage and transportation.

By successfully securitizing gold, however, ‘Global X Physical Gold’ has enabled investors to access the precious metal without the need for direct storage, making gold investments more affordable and accessible.

Gold, which remained relatively stagnant for nearly 30 years since the 1970s, entered a strong uptrend in the 2000s. More recently, it has gained increasing recognition as a hedge against economic uncertainty and a historically proven store of value, with prices hitting record highs.

Source: NEWSARTICLEINSIDER