In 2004, the first-ever gold ETF gained approval, and by the year's end, it boasted a value of $1.3 billion.
Fast forward seven years, and it had ascended to become the world's largest ETF, triggering a surge in gold prices. Starting at $442 during the ETF's launch, gold skyrocketed by 89%, reaching $834 by the close of 2007.
Remarkably, the ETF, known as GLD, solidified its status as the globe's largest private holder of gold bullion, presently commanding a market cap exceeding $57 billion.
GLD played a pivotal role in introducing millions of new investors to the physical metal, leaving an indelible mark on the investment landscape.
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