Lightyear enters exchange traded commodities with gold launch

Investment platform Lightyear is expanding into exchange traded commodities (ETCs) with the launch of gold.

The new investment option adds to its existing suite of more than 3,500 stocks, exchange traded funds (ETFs) and money market funds, and will provide another option for both retail and business investors across Europe to diversify their portfolios.

Customers can now invest in iShares Physical Gold, which seeks to track the day to day movement of the price of gold, backed by gold bullions, held as allocated gold bars with custodian JP Morgan.

“Adding exchange traded commodities to our offering for people and businesses across Europe is a huge step for us,” Lightyear co-founder and chief technology officer Mihkel Aamer said.

“We’re prioritising products that enable customers to manage and diversify their portfolios amidst rising inflation,” he added.

Lightyear also recently added BlackRock MMFs alongside launching UK business investment accounts that enable sole director companies to invest in stocks, funds and ETFs. 

“With our interest rate product that tracks the Central Bank Rate and our BlackRock Money Market Funds, the addition of gold into our offering boosts the many ways that European investors can put their money to work in a higher inflation environment,” Aamer said.

Earlier this year, Lightyear launched more than 100 new UK stocks and ETFs soon after going live with a ‘Portfolio Insights’ feature, designed to help users diversify their investments by providing in-depth information on the sectors, companies and countries a user is investing in.