BlackRock Wins SEC Approval For Copper-Backed ETF

Law360, New York (February 26, 2013, 4:40 PM EST) -- Wealth management giant BlackRock Inc. got a green light Friday for a copper exchange-traded fund, the second copper-backed ETF to receive regulatory approval, according to a notice posted by the U.S. Securities and Exchange Commission. 

The SEC said that it would accept a rule change proposal by NYSE Arca Inc. to list BlackRock's iShares Copper Trust on the exchange. The BlackRock trust is hoping to register more than 12.1 million shares of the ETF.

The agency refuted commenters' concerns that shareholders in the fund could manipulate...
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