What changed in this filing

/stocks — the workspaceLOADING

Item 9A. Controls and Procedures

2022-08-12 compared with 2021-08-13 · 82 added, 104 removed, 469 unchanged (28% of the section changed)

51 unchanged sentences

of assets and liabilities, including the schedules of investments, as of June 30, 2022 and 2021, and the related statements of operations,

changes in net assets, and the financial highlights for each of the years in the two-year period ended June 30, 2021, and the related

changes in net assets, and the financial highlights for each of the years in the three-year period ended June 30, 2022, and the related

notes (collectively referred to as the financial statements) of the Trust, and our report dated August 12, 2022 expressed an unqualified

87 unchanged sentences

Principal Accounting Fees and Services

for services performed by Tait, Weller & Baker LLP and KPMG LLP, for the fiscal years ended June 30, 2021 and 2020 specifically:

Audit fees – Tait, Weller

Audit fees – KPMG

Audit related fees - Tait, Weller &

Audit related fees

Fees are fees paid by the Sponsor to Tait, Weller & Baker LLP and KPMG LLP for professional services for the audit of the Trust’s

financial statements included in the Form 10-K and review of financial statements included in the Form 10-Qs, and for services that are

normally provided by the accountants in connection with regulatory filings or engagements.

Audit Related Fees are paid by the Sponsor

to Tait, Weller & Baker LLP and KPMG LLP for assurance and related services that are reasonably related to the performance of the

audit or review of the Trust’s financial statements.

for services performed by Tait, Weller & Baker LLP for the fiscal years ended June 30, 2022 and 2021 specifically:

June 30, 2022

June 30, 2021

Audit fees – Tait, Weller & Baker

Fees are fees paid by the Sponsor to Tait, Weller & Baker LLP for professional services for the audit of the Trust’s financial

statements included in the Form 10-K and review of financial statements included in the Form 10-Qs, and for services that are normally

provided by the accountants in connection with regulatory filings or engagements.

Policies and Procedures

14 unchanged sentences

License Agreement between The Bank of New York Mellon and GraniteShares LLC(1)

Executive Officer’s Certificate, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002*

Financial Officer’s Certificate, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002*

Executive Officer’s Certificate, pursuant to 18 U.S.C.

Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley

Financial Officer’s Certificate, pursuant to 18 U.S.C.

Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley

Instance Document

Chief Executive Officer and Chief Financial Officer’s Certificate, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002*

Chief Accounting Officer’s Certificate, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002*

Executive Officer and Chief Financial Officer’s Certificate, pursuant to 18 U.S.C.

Section 1350, as adopted pursuant to

Section 906 of the Sarbanes-Oxley Act of 2002*

Chief Accounting Officer’s Certificate, pursuant to 18 U.S.C.

Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002*

XBRL Instance Document

Taxonomy Extension Schema Document

Taxonomy Extension Calculation Document

Taxonomy Extension Definitions Document

XBRL Taxonomy Extension Calculation Document

XBRL Taxonomy Extension Definitions Document

Taxonomy Extension Labels Document

Taxonomy Extension Presentation Document

XBRL Taxonomy Extension Presentation Document

Cover Page Interactive Data File (embedded within the Inline XBRL document)

Filed herewith.

18 unchanged sentences

STATEMENTS AS OF JUNE 30, 2022

of Independent Registered Public Accounting Firms

of Assets and Liabilities at June 30, 2020 and 2021

of Investments at June 30, 2020 and 2021

of Operations for the fiscal period ended June 30, 2019, 2020 and 2021

of Changes in Net Assets for the fiscal period ended June 30, 2019, 2020 and 2021

Highlights for the years ended June 30, 2019, 2020 and 2021

to the Financial Statements

Report of Independent Registered Public Accounting Firms (PCAOB ID:

Statements of Assets and Liabilities at June 30, 2022 and 2021

Schedules of Investments at June 30, 2022 and 2021

Statements of Operations for the fiscal period ended June 30, 2022, 2021 and 2020

Statements of Changes in Net Assets for the fiscal period ended June 30, 2022, 2021 and 2020

Financial Highlights for the years ended June 30, 2022, 2021 and 2020

Notes to the Financial Statements

OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

4 unchanged sentences

schedules of investments, as of June 30, 2022 and 2021, the related statements of operations, the statements of changes in net assets,

and the financial highlights for each of the years in the two-year period ended June 30, 2021 and the related notes (collectively referred

and the financial highlights for each of the years in the three-year period ended June 30, 2022 and the related notes (collectively referred

to as the “financial statements”).

1 unchanged sentence

financial position of the Trust as of June 30, 2022 and 2021, and the results of its operations, the changes in its net assets, and the

financial highlights for each of the years in the two-year period ended June 30, 2021, in conformity with accounting principles generally

financial highlights for each of the years in the three-year period ended June 30, 2022, in conformity with accounting principles generally

accepted in the United States of America.

financial statements of the Trust, as of June 30, 2019, were audited by other auditors whose report, dated August 20, 2019, expressed

an unqualified opinion on those financial statements.

also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (“PCAOB”),

the Trust’s internal control over financial reporting as of June 30, 2022, based on criteria established in Internal Control

– Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO),

and our report dated August 13, 2021 expressed an unqualified opinion.

– Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO), and our

report dated August 12, 2022, expressed an unqualified opinion.

financial statements are the responsibility of the management of the Trust’s sponsor.

25 unchanged sentences

of the evidence pertaining to the existence of the gold holdings

disclosed in the schedule of investments, as of June 30, 2021, the Trust’s market value of gold holdings was $1,009,603,783

representing 100% of the Trust’s total assets.

All of the gold holdings, which were 572,614 ounces of gold as of June 30, 2021,

were held by a third-party custodian (the “Custodian”).

disclosed in the schedule of investments, as of June 30, 2022, the Trust’s market value of gold holdings was $996,270,946 representing

100% of the Trust’s total assets.

All of the gold holdings, which were 548,305 ounces of gold as of June 30, 2022, were held by

a third-party custodian (the “Custodian”).

identified the evaluation of the evidence pertaining to the existence of the gold holdings as a critical audit matter.

15 unchanged sentences

June 30, 2022 and 2021

in 000’s of US$ except share and per share data

in gold bullion, at fair value (1)

Amounts in 000’s of US$, except share and per share data

June 30, 2022

June 30, 2021

Investment in gold bullion, at fair value (1)

Fees payable to Sponsor

Total Liabilities

Shares issued and outstanding (2)

Shares issued and outstanding, unlimited authorized Shares with par value of $ 0.00 per Share (2)

Net asset value per Share

7 unchanged sentences

in 000’s of US$, except for ounces and percentages

June 30, 2022

% of Net Assets

Total investment

in excess of other assets

Liabilities in excess of other assets

June 30, 2021

% of Net Assets

Total investment

in excess of other assets

Liabilities in excess of other assets

Notes to the Financial Statements

2 unchanged sentences

the years ended June 30, 2022, 2021 and 2020

in 000’s of US$, except per share data

Amounts in 000’s of US$, except per share data

June 30, 2022

June 30, 2021

June 30, 2020

Total expenses

Net investment loss

Net realized and unrealized

gains (losses)

Net realized and unrealized gains (losses)

Net realized gain (loss) from:

Gold bullion sold to pay expenses

Gold bullion distributed for the redemption of Shares

Net realized gain (loss)

Gold bullion sold to pay

bullion distributed for the redemption of Shares

realized gain (loss)

change in unrealized appreciation (depreciation)

realized and unrealized gain (loss)

Net increase (decrease)

in net assets resulting from operations

Net change in unrealized appreciation (depreciation)

Net realized and unrealized gain (loss)

Net increase (decrease) in net assets resulting from operations

Net increase (decrease) in net assets per share

Weighted average number of shares (in 000’s)

for effect of stock split.

The stock split was effective on March 7, 2019.

Notes to the Financial Statements

2 unchanged sentences

the years ended June 30, 2022, 2021 and 2020

in 000’s of US$

Amounts in 000’s of US$

June 30, 2022

June 30, 2021

Net Assets – beginning of

Creations of 16,600,000 , 23,500,000 and 41,480,000

shares respectively

Redemptions of ( 18,150,000 ) , ( 3,150,000 ) and

( 4,640,000 ) respectively

Net investment income (loss)

Net realized gain (loss) from gold bullion

sold to pay expenses

Net realized gain (loss) from gold bullion

distributed for redemptions

Net change in unrealized

gain (loss) on investment in gold bullion

Net Assets – end

June 30, 2020

Net Assets – beginning of year

Creations of 9,150,000 , 16,600,000 and 23,500,000 shares respectively

Redemptions of ( 11,500,000 ), ( 18,150,000 ) and ( 3,150,000 ) respectively

Net investment (loss)

Net realized gain from gold bullion sold to pay expenses

Net realized gain from gold bullion distributed for redemptions

Net change in unrealized gain (loss) on investment in gold bullion

Net Assets – end of year

Notes to the Financial Statements

1 unchanged sentence

the years ended June 30, 2022, 2021 and 2020

Share Performance

a Share outstanding throughout each year)

Per Share Performance

(for a Share outstanding throughout each year)

June 30, 2022

Ended June 30, 2020

Ended June 30, 2019 (1)

Net asset value per Share at beginning

Net investment

income (loss) (2)

realized and unrealized gain (loss) on investment in gold bullion

change in net assets from operations

Net asset value per

Share at end of year

Total return ratio, at net

Year Ended June 30, 2021

Year Ended June 30, 2020

Net asset value per Share, beginning of year

Net investment income (loss) (1)

Net realized and unrealized gain (loss) on investment in gold bullion

Net change in net assets from operations

Net asset value per Share, end of year

Total return ratio, at net asset value

Net assets ($000’s)

1 unchanged sentence

Net investment loss

for effects of stock split.

Stock split was effective on March 7, 2019.

using the average shares outstanding method.

11 unchanged sentences

means of making an investment similar to an investment in gold.

February 26, 2019, the Trust announced a 10-for-1 Share split for all shareholders of record as of March 7, 2019.

The ticker symbol for

the Trust did not change, and the Trust continues to trade on the NYSE Arca.

The split was applied retroactively for all periods presented,

increasing the number of Shares outstanding for the Trust, and resulted in a proportionate decrease in the price per Share and per Share

information of the Trust.

Therefore, the split did not change the aggregate net asset value of a shareholder’s investment at the

time of the split.

fiscal year end for the Trust is June 30.

42 unchanged sentences

equal to 0.1749 % of the adjusted daily net asset value of the Trust, paid monthly in arrears.

Prior to October 5, 2018 the Sponsor’s

fee was payable at an annualized rate of 0.20 %.

Sponsor has agreed to assume administrative and marketing expenses incurred by the Trust, including the Trustee’s monthly fee and

5 unchanged sentences

The Sponsor’s fee, for the year ended June 30, 2022 was $1,726,901 or 0.17% of the Trust’s assets on an annualized basis ,

$ 1,193,277 for the year ended June 30, 2020, or 0.17% of the Trust’s assets on an annualized basis and $ 666,919 for the year ended

June 30, 2019 or 0.18% of the Trust’s assets on an annualized basis.

$2,012,108 for the year ended June 30, 2021, or 0.17% of the Trust’s assets on an annualized basis and $1,193,277 for the year

ended June 30, 2020 or 0.17% of the Trust’s assets on an annualized basis.

respect to expenses not otherwise assumed by the Sponsor, the Trustee will, at the direction of the Sponsor or in its own discretion,

64 unchanged sentences

and 2019 tax years remain open for examination.

There were no examinations in progress at year end.

Investment in gold

1 unchanged sentence

Schedule of Investment in Gold

in 000’s of US$, except for ounces data

Amounts in 000’s of US$, except for ounces data

Opening balance as of June 30, 2021

2 unchanged sentences

( 115,093.315 )

Change in unrealized

Ending balance as

of June 30, 2021

Change in unrealized appreciation (depreciation)

Ending balance as of June 30, 2022

in ounces of gold and their respective values for the year ended June 30, 2021.

in 000’s of US$, except for ounces data

Amounts in 000’s of US$, except for ounces data

Opening balance as of June 30, 2020

2 unchanged sentences

( 181,483.018 )

Change in unrealized

Ending balance as

of June 30, 2020

Change in unrealized appreciation (depreciation)

Ending balance as of June 30, 2021

Related parties – Sponsor and Trustee

52 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 9A. Controls and Procedures