How does the CurrencyShares product structure differ from the ETN structure?
CurrencyShares products are structured as grantor trusts. They are exchange traded products that are registered under the Securities Act of 1933 and the Securities Exchange Act of 1934, and are subject to SEC prospectus delivery and periodic reporting requirements. As opposed to ETNs, which are unsecured promissory notes, CurrencyShares represent an undivided interest in currency held in a bank account (at JPMorgan Chase Bank N.A., London Branch).
Related Questions
- ESPRO says that it offers "all-inclusive price options." How does this price structure differ from other "pest control" companies?
- Does the licensing structure used for Muzaks core music programs apply to the MuzakID product line?
- How did pirates’ organizational structure differ from that of law-abiding merchant ships?
