BOSTON--(BUSINESS WIRE)--The World Gold Council1, the market development organization for the gold industry, and State Street Global Advisors, the asset management business of State Street Corporation (NYSE: STT), today announced the launch of SPDR Gold MiniShares Trust (Symbol: GLDM). GLDM offers the lowest available total expense ratio among all gold exchange-traded products2, with a net and gross expense ratio of 0.18 percent. GLDM will be initially listed at a per-share trading price of 1/100th of an ounce of gold, as represented by the LBMA Gold Price PM (USD).3

“We believe GLDM is designed to provide an effective means for investors seeking the diversification benefits gold exposure may bring to a portfolio,” said Noel Archard, global head of SPDR product at State Street Global Advisors. “Combined with a relatively low expense ratio, GLDM’s relatively low share price provides all types of investors access to gold within portfolios, and we are excited to partner with the World Gold Council on another ETF for helping clients target investment goals.”

With the launch of GLDM, the World Gold Council and State Street Global Advisors have added a third product to their range of gold ETFs, all of which are backed by physical gold. In November 2004, the World Gold Council and State Street Global Advisors launched SPDR® Gold Shares (GLD®), the first US-traded gold ETF and the first US-listed ETF backed by a physical asset. GLD attracted more than $1 billion in assets in its first three trading days4 and has since remained the largest gold ETF in the market with approximately $35 billion in total net assets5.

The World Gold Council and State Street Global Advisors again partnered to launch the SPDR® Long Dollar Gold Trust (GLDW) in January 2017. GLDW was the first US-listed, gold-backed ETF designed for a strong dollar environment, by combining both a long position in physical gold and long dollar exposure against a basket of six non-US currencies, providing investors with the potential benefits of gold exposure in a strong US dollar environment.

“Investors’ portfolio needs are continuously evolving, and it is important that there is a full range of physically-backed gold products available as they implement investment solutions,” said Joseph Cavatoni, Principal Executive Officer of GLDM’s sponsor and Managing Director USA and ETFs, World Gold Council. “We are pleased to now offer a suite of solutions that are designed to align with investors' preferred characteristics, whether it’s liquidity, trading efficiency, total cost of ownership or managing their exposures in a strong US dollar environment.”

To learn more about the new GLDM product, click here.

ICBC Standard Bank will serve as the custodian for GLDM and each share of GLDM will represent the price of 1/100th of an ounce of gold at launch, which is approximately 1/10th the size of a share of GLD.

About World Gold Council

The World Gold Council is the market development organization for the gold industry. Our purpose is to stimulate and sustain demand for gold, provide industry leadership and be the global authority on the gold market.

We develop gold-backed solutions, services and products, based on authoritative market insight and we work with a range of partners to put our ideas into action. As a result, we create structural shifts in demand for gold across key market sectors. We provide insights into the international gold markets, helping people to understand the wealth preservation qualities of gold and its role in meeting the social and environmental needs of society.

The membership of the World Gold Council includes the world’s leading and most forward-thinking gold mining companies.

About SPDR Exchange Traded Funds

SPDR ETFs are a comprehensive family spanning an array of international and domestic asset classes. SPDR ETFs are managed by SSGA Funds Management, Inc., a registered investment adviser and wholly owned subsidiary of State Street Corporation. The funds provide investors with the flexibility to select investments that are precisely aligned to their investment strategy. Recognized as an industry pioneer, State Street created the first US listed ETF in 1993 (SPDR S&P 500® – Ticker SPY) and has remained on the forefront of responsible innovation, as evidenced by the introduction of many ground-breaking products, including first-to-market launches with gold, international real estate, international fixed income, and sector ETFs. For more information, visit www.spdrs.com.

About State Street Global Advisors

For four decades, State Street Global Advisors has served the world’s governments, institutions and financial advisors. With a rigorous, risk-aware approach built on research, analysis and market-tested experience, we build from a breadth of active and index strategies to create cost-effective solutions. As stewards, we help portfolio companies see that what is fair for people and sustainable for the planet can deliver long-term performance. And, as pioneers in index, ETF, and ESG investing, we are always inventing new ways to invest. As a result, we have become the world’s third largest asset manager with nearly US $2.73 trillion* under our care.