PHYS is Not an ETF

I previously wrote an article entitled PHYS: Now You Can Store Your Gold in Canada.   After discussions with Michael Traynor of the National Stock Exchange, I agree with their conclusion that PHYS is not an ETF. In some ways, PHYS is similar to other physically-backed gold products such as SPDR Gold... 

PHYS: Now You Can Store Your Gold in Canada

Note (added 3/2/10): The article below contains an error.  PHYS is actually a closed-end fund, not an ETF.  For more information, see PHYS is Not an ETF. Sprott Physical Gold Trust (PHYS), the latest physically backed gold exchange-traded product began trading yesterday (2/26/10) on the NYSE.  The...