The Indonesia Stock Exchange (IDX) launched the country’s first physically backed gold exchange-traded fund (ETF) on Monday, Aug 10, in a move authorities say will strengthen the national bullion ecosystem and broaden investment options for the public.
The launch, held at the IDX office in Jakarta, was attended by officials from the Coordinating Economy Ministry, the Finance Ministry, the Financial Services Authority (OJK) and self-regulatory organisations. The initiative was also positioned as a way to improve financial inclusion by linking the capital market to the bullion ecosystem, giving investors a new avenue to gain exposure to gold.
Deputy Finance Minister Juda Agung described the rollout as a concrete step in the government’s broader capital market reform agenda, which includes efforts to boost liquidity and deepen the market. He noted that global demand for gold ETFs has been rising, with worldwide gold ETF assets under management reaching US$559 billion in 2025, backed by 4,025 tonnes of physical gold. “Today we have achieved a new milestone. The bullion market will continue to grow, while the capital market will deepen further,” he said, adding that the public will gain access to a wider range of gold investment alternatives.
Coordinating Economy Minister Airlangga Hartanto said he expects Indonesia’s gold assets to keep growing following the ETF launch, potentially overtaking countries like Singapore and India. He pointed to domestic gold assets managed by state-owned pawnshop PT Pegadaian, which have reached 153 tonnes, equivalent to roughly US$20 billion.
OJK Chairwoman Friderica Widyasari Dewi said the ETF rollout is part of the government’s quick-win initiatives and confirmed the product has been designed to comply with syariah principles. Separately, reports indicate the ETF is trading under the ticker XTRA, with Friderica calling the launch the realisation of an initiative that had been studied for more than a decade, made possible by regulatory changes and the maturing of Indonesia’s financial ecosystem.
President Director of PT Kustodian Sentral Efek Indonesia (KSEI), Samsul Hidayat, said he expects the vehicle to serve as a viable option for both retail and institutional investors, while bridging the capital market with the wider national bullion framework.
Some reports note that the launch actually comprised five separate gold-backed ETFs, marking a new step in the development of Indonesia’s capital market and giving investors a way to gain gold exposure without directly purchasing or storing physical bullion.
