[REVISION HISTORY]

Indonesia launches gold ETF and advances bullion sector

Updated 7 times since CLSTR started tracking revisions of this situation.

What changed

2026-08-21 04:23 UTC → 2026-09-06 04:06 UTC · added ~~removed~~

In early July 2026, the new Bursa Efek Indonesia (BEI) board set an aggressive plan to lift the exchange into the world’s top-10 by 2030. A central element of this strategy is a gold-backed Exchange-Traded Fund (ETF). Prior to the launch, the Financial Services Authority (OJK) indicated openness to revising the BEI’s 2026 IPO targets, while several investment managers applied for ETF issuance. On 10 August 2026, coinciding with the 49th anniversary of Indonesia’s capital market, the BEI officially launched Sharia-compliant gold ETFs. Participating investment managers include PT Trimegah Asset Management, PT BRI Manajemen Investasi, PT Mandiri Manajemen Investasi, PT Syailendra Capital, and PT Indo Premier Investment Management. Pegadaian serves as the sole underlying provider through Electronic Gold Receipts (EGR), ensuring each unit is backed by physical gold. OJK Chairperson Friderica Widyasari Dewi stated the products are designed to deepen the capital market and expand the bullion market. To further bolster the sector, the Indonesia Bullion Market Association (IBMA) was launched on 20 August 2026 to act as a catalyst for a more transparent gold market. Led by Chairperson Selfie Dewiyanti, the IBMA aims to integrate the national gold ecosystem. Coordinating Minister for Economic Affairs Airlangga Hartarto noted that national gold reserves managed by Pegadaian have reached approximately 153 tons, with BSI holding 24 tons. Hartarto emphasized the need to integrate informal holdings, noting that approximately 1,800 tons of gold, valued at roughly US$252 billion, is held by the public outside official banking channels. To support the ecosystem, the government is preparing tax incentives for the ETF and plans to launch the Indonesia Commodity Exchange (Icomex) on 1 January 2027. By early September 2026, OJK recommended Gold ETFs as a potential hedging tool for pension funds, such as BPJS Ketenagakerjaan, Asabri, and TASPEN, to mitigate stock market fluctuations.

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