JPMorgan's [profile] plans to launch a physical copper ETF have been foiled again.

The U.S. Securities and Exchange Commission delayed for a second time a ruling on JPMorgan's plan to launch the product, which would be physically backed by copper, according to Reuters.

  The regulator set a new deadline of December 14 to rule on one of two planned ETFs. It said it needed more time to consider the issues surrounding the fund, which has ignited fears among U.S. copper fabricators about its potential impact on metal flow and prices.

"The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed (fund)," regulators at the agency said in a release.

To read more about the delay, go to the article in Reuters.

 

Edited by: Tommy Fernandez


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