Fungibility Fungibility In economics, fungibility is the property of a good or a commodity whose individual units are essentially interchangeable. For example, since one kilogram of pure gold is equivalent to any other kilogram of pure gold, whether in the form of coins, ingots, or in other states, gold is fungible. Other fungible commodities include sweet crude oil, company shares, bonds, other precious metals, and currencies. Fungibility refers only to the equivalence of each unit of a commodity with other units of the same commodity and not to the exchange of one commodity for another, which is barter. The word "fungibility"
United States Commodity Funds commodity ETP in the United States that invested in Brent crude oil (ticker:BNO), although previously a Brent crude oil based commodity ETP had been launched in London. In 2010, USCF launched its first non-energy specific commodity ETP, United States Commodity Index Fund (ticker:USCI), which holds a diversified basket of commodity futures based on the SummerHaven Dynamic Commodity Index ("SDCI"). The SDCI is the first broadly diversified commodity index whose commodity weightings are not fixed, but which instead are adjusted to reflect market conditions. USCF's commodity exchange traded products are all listed on the New York Stock Exchange. Prior to the