Sprott Physical Copper Trust Announces Filing to List on NYSE Arca

Executive Summary

• The U.S. SEC approved the Rule 19b‑4 application filed by NYSE Arca to list and trade units of the Sprott Physical Copper Trust (COP) on NYSE Arca, enabling a dual‑listing with the Toronto Stock Exchange.
• A U.S. listing is expected to broaden access for American investors to the only exchange‑listed physical copper fund, supporting demand driven by electrification and energy storage trends.
• The listing remains contingent on filing and effectiveness of a registration statement under the 1934 Act and will likely trigger amendments to COP’s redemption feature (moving from semi‑annual to monthly redemptions and removing the current cap), subject to unitholder approval.

Key Details

• SEC Approval: Rule 19b‑4 application for NYSE Arca listing of COP units approved.
• Dual‑Listing Path: Units will be listed on both TSX (existing) and NYSE Arca pending registration statement effectiveness.
• Conditionality: Listing is subject to filing/effectiveness of a registration statement under the U.S. Securities Exchange Act of 1934; no guarantee of successful listing.
• Redemption Feature Amendment: Anticipated change from semi‑annual to monthly redemptions and removal of the 1.5 % cap on units redeemable per period, pending unitholder approval at a future meeting.
• Investor Impact: U.S. investors will gain easier access to the physical copper fund, potentially increasing demand for the trust’s units.
• CEO Comment: “We are very pleased to have received this approval which moves us closer to listing the Sprott Physical Copper Trust on the NYSE Arca… a U.S. listing … will provide U.S. investors with easier access…” – John Ciampaglia, CEO, Sprott Asset Management.

Notable Quotes

• “A U.S. listing of the Trust Units will provide U.S. investors with easier access to invest in the only exchange‑listed physical copper fund at a time when there is growing demand for copper, a critical material essential to meet growing demand for electricity generation, distribution and storage.” – John Ciampaglia, CEO, Sprott Asset Management.