Item 8. Financial Statements and Supplementary Data
Item 8. Financial Statements and Supplementary Data.
Goldman Sachs Physical Gold ETF
Quarterly Statements of Operations
For the years ended
December 31, 2021 and 2020
(Unaudited)
Three Months
ended March 31,
2021
Three Months
ended June 30,
2021
Three Months
ended September 30,
2021
Three Months
ended December 31,
2021
Year ended
December 31,
2021
EXPENSES
Sponsor fee
$
(171,799
)
$
(158,782
)
$
(172,760
)
$
(188,415
)
$
(691,756
)
Total expenses
(171,799
)
(158,782
)
(172,760
)
(188,415
)
(691,756
)
Net investment income (loss)
(171,799
)
(158,782
)
(172,760
)
(188,415
)
(691,756
)
Net realized and unrealized gain (loss)
Net realized gain (loss) on gold bullion distributed for redemptions
47,462,394
—
—
—
47,462,394
Net realized gain (loss) on gold transferred to pay expenses
(17,064
)
(19,046
)
(2,352
)
(25,631
)
(64,093
)
Change in unrealized appreciation (depreciation) on investment in gold
(89,908,308
)
12,389,389
(4,914,001
)
17,918,051
(64,514,869
)
Net realized and unrealized gain (loss) from operations
(42,462,978
)
12,370,343
(4,916,353
)
17,892,420
$
(17,116,568
)
Net increase in net assets resulting from operations
$
(42,634,777
)
$
12,211,561
$
(5,089,113
)
$
17,704,005
$
(17,808,324
)
45
Table of Contents
Three Months
ended March 31,
2020
Three Months
ended June 30,
2020
Three Months
ended September
30, 2020
Three Months
ended December 31,
2020
Year ended
December 31,
2020
EXPENSES
Sponsor fee
$
(88,744
)
$
(131,057
)
$
(212,831
)
$
(224,900
)
$
(657,532
)
Total expenses
(88,744
)
(131,057
)
(212,831
)
(224,900
)
(657,532
)
Net investment income (loss)
(88,744
)
(131,057
)
(212,831
)
(224,900
)
(657,532
)
Net realized and unrealized gain (loss)
Net realized gain (loss) on gold bullion distributed for redemptions
919,264
—
(1,024,775
)
6,011,267
5,905,756
Net realized gain (loss) on gold transferred to pay expenses
(378
)
(1,314
)
(786
)
(25,814
)
(28,292
)
Change in unrealized appreciation (depreciation) on investment in gold
8,546,217
25,217,179
24,031,732
(5,216,793
)
52,578,335
Net realized and unrealized gain (loss) from operations
9,465,103
25,215,865
23,006,171
768,660
$
58,455,799
Net increase in net assets resulting from operations
$
9,376,359
$
25,084,808
$
22,793,340
$
543,760
$
57,798,267
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.
There have been no disagreements with accountants on any matter of accounting principles or practices or financial statement disclosures during the last two fiscal years.
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