GDX turns 20 as gold’s U.S. history marks 250 years

VanEck’s Gold Miners ETF (GDX) reached its 20th anniversary in May 2026. VanEck tied the milestone to milestones in U.S. monetary history that span the nation’s 250 years.

GDX launched in May 2006 as an exchange-traded fund that holds a diversified basket of gold mining companies under a single ticker. The firm identifies the launch as the start of its ETF business. The fund allows investors to gain exposure to gold through shares of mining companies rather than through physical bullion.

The firm traces its work with gold back to 1968, when founder John C. van Eck launched the first U.S. open-ended gold equity mutual fund. VanEck’s materials note that three years later, on Aug. 15, 1971, President Richard Nixon ended the dollar’s convertibility to gold, moving the global monetary system fully to fiat currency.

VanEck highlighted earlier U.S. laws that defined gold’s role: the Coinage Act of 1792, which established gold and silver as monetary anchors, and the Gold Standard Act of 1900, which pegged the dollar to gold at $20.67 per ounce.

The firm described differences between exposure to miners and exposure to physical gold. Mining companies can provide operating leverage to changes in the gold price, potential dividend income and upside from new discoveries or mine development. Physical gold is a direct commodity holding and does not generate company income or dividends.

VanEck noted that central banks have diversified reserves away from reliance on any single currency and that some investors look to gold or gold-related assets for protection against inflation, high government debt and geopolitical tensions.

VanEck’s published materials include investor cautions. Investments in gold and mining companies carry risks such as high price volatility, exposure to foreign and political risks, operational and commodity-price risks, liquidity and regulatory risks for smaller or foreign issuers, and the potential loss of principal. Prospective investors are advised to review fund prospectuses and consider fees and investment objectives before investing.

Key dates on the timeline are 1792 (Coinage Act), 1900 (Gold Standard Act), 1968 (van Eck’s gold equity mutual fund), Aug. 15, 1971 (end of dollar-gold convertibility) and May 2006 (GDX launch). In 2026, GDX’s 20th anniversary and the United States’ 250th anniversary coincided.