Lightyear Expands into Exchange Traded Commodities with Gold Launch

Published 7 months ago

Investment platform, Lightyear, is making its mark in the world of exchange traded commodities (ETCs) with the introduction of gold. This new offering is an addition to their current array of over 3,500 stocks, exchange traded funds (ETFs), and money market funds. It opens up another avenue for both retail and business investors across Europe to broaden their investment portfolios.

Lightyear customers are now able to invest in iShares Physical Gold. This investment option aims to track the daily fluctuation of gold prices. It’s backed by gold bullions and held as allocated gold bars with custodian JP Morgan.

This move marks a significant step for Lightyear, according to co-founder and chief technology officer, Mihkel Aamer. He noted that the platform is focusing on products that allow customers to manage and diversify their portfolios amidst increasing inflation.

Recently, Lightyear added BlackRock Money Market Funds to its offerings. It also launched UK business investment accounts, enabling sole director companies to invest in stocks, funds, and ETFs.

With the inclusion of gold into its offerings, Lightyear increases the ways European investors can make their money work in a higher inflation environment. This is in line with their interest rate product that tracks the Central Bank Rate and their BlackRock Money Market Funds.

Earlier this year, Lightyear launched over 100 new UK stocks and ETFs. This was followed by the release of a ‘Portfolio Insights’ feature. This feature aims to assist users in diversifying their investments by providing in-depth information on the sectors, companies and countries they are investing in.