U.S. manufacturers are opposing JPMorgan's (JPM) plans to launch an ETF backed by physical...

|About: JPMorgan Chase & Co. (JPM)|By:, SA News Editor

U.S. manufacturers are opposing JPMorgan's (JPM) plans to launch an ETF backed by physical copper, telling the SEC the fund would "grossly and artificially inflate prices" and "wreak havoc on the US and global economy." JPM's regulatory filings suggest its ETF could hold 61,800 tons, or 27% of the copper held in the London Metal Exchange’s global network of warehouses.