Diamonds may soon become exchange-traded funds, according to theWall Street Journal. GemShares, a financial company, is patentingits index for turning the commodity, which are difficult to pricein a standard manner, into a tradable asset. Rich investors have 5%of their assets in diamonds, according to a survey by BarclaysWealth.
The diamond securities market will probably first lure producersand dealers of the jewels seeking to hedge against price drops, butin time, speculative or investment demand could be a possibility.GemShares has not yet determined when the securities will be ready,but the Journal predicts the ETFs could be selling bymid-2013.
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