Nornickel fund launches first Blockchain-tracked precious metal ETCs

A fund of Russia's Norilsk Nickel has launched Blockchain-tracked securities known as Exchange Traded Commodities (ETCs) which offer investors exposure to the spot prices of palladium, platinum, gold and silver without owning them.

Nornickel, the world's largest producer of palladium, hopes to attract more investors to metals.

"We expect significant growth in investor demand for access to metals over the next decade as economies undertake the energy transition and focus on meeting the challenge of global climate change," Anton Berlin, Nornickel's head of sales, said in a statement.