Sprott Inc. has launched the Sprott Physical Copper Trust on the Toronto Stock Exchange, holding over 10,000 metric tons of copper, mainly in Asia. Despite plans to raise an additional $500 million to acquire 50,000 more tons, Sprott asserts the fund is too small to impact the global copper market, which produces 22 million tons annually. Unlike past controversial copper-backed funds from BlackRock and JPMorgan Chase, Sprott’s CEO John Ciampaglia believes their fund provides an alternative investment without significantly affecting market availability or prices.
