17 unchanged sentences
We, Brian Hartigan , Principal Executive Officer, and Kelli Gallegos, Principal Financial and Accounting Officer, Investment Pools, of the Sponsor, assessed the effectiveness of the Trust’s internal control over financial reporting as of December 31, 2025.
−Removed: In making this assessment, we used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”) in Internal Control—Integrated Framework (2013).
+Added: In making this assessment, we used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission in Internal Control—Integrated Framework (2013).
Based on our assessment and those criteria, we have concluded that the Trust maintained effective internal control over financial reporting as of December 31, 2025.
45 unchanged sentences
British Pound Sterling deposits, interest bearing
+Added: Dollar Cash at Depository
Receivable from accrued interest
British Pound deposits, non-interest bearing, overdrawn
+Added: Due to Broker
+Added: Redemptions payable
Accrued Sponsor’s fee
43 unchanged sentences
Redemption of Shares
−Removed: ( 107,729,908
Net Increase (Decrease) due to Share Transactions
16 unchanged sentences
Accrued Sponsor’s fee
+Added: Due to Broker
Net cash provided by (used in) operating activities
3 unchanged sentences
Redemptions of redeemable capital Shares
−Removed: ( 107,729,908
Increase (decrease) in payable for British Pound Sterling deposits overdrawn
35 unchanged sentences
Segment Reporting
−Removed: In November 2023, the FASB issued Accounting Standards Update 2023-07, Segment Reporting (Topic 280):
−Removed: Improvements to Reportable Segment Disclosures (“ASU 2023-07”), with the intent of improving reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, allowing financial statement users to better understand the components of a segment's profit or loss and assess potential future cash flows for each reportable segment and the entity as a whole thereby enabling better understanding of how an entity's segments impact overall performance.
−Removed: The Trust represents a single operating segment.
−Removed: Subject to the oversight and, when applicable, approval of the Board of Managers, the Trust's Sponsor acts as the Trust's chief operating decision maker (“CODM”), assessing performance and making decisions about resource allocation.
+Added: The Trust represents a single operating segment, in accordance with ASC 280, Segment Reporting.
+Added: Subject to the oversight and, when applicable, approval of the Board of Managers, portfolio managers and senior executives at the Sponsor act as the Trust’s chief operating decision maker (“CODM”), assessing performance and making decisions about resource allocation within the Trust.
The CODM monitors the operating results as a whole, and the Trust’s long-term strategic asset allocation is determined in accordance with the terms of its prospectus based on a defined investment strategy.
The financial information provided to and reviewed by the CODM is consistent with that presented in the Trust’s financial statements.
−Removed: Adoption of the new standard impacted the Trust's financial statement note disclosures only and did not affect the Trust's financial position or the results of its operations.
Foreign Currency Translation
6 unchanged sentences
The Closing Spot Rate on the last day of the period is used for translation in the statements of financial condition.
−Removed: The average Closing Spot Rate for the period is used for translation in the statements of comprehensive income and the statements of cash flows.
+Added: The average Closing
+Added: Spot Rate for the period is used for translation in the statements of comprehensive income and the statements of cash flows.
The redeemable capital Shares are adjusted to redemption value and these adjustments are recorded against retained earnings.
+Added: The Trust may hold a USD cash balance to pay the Trust's expenses and distribute excess interest.
+Added: These amounts are reflected as U.S.
+Added: Dollar cash at Depository on the Statements of Financial Condition.
Interest Income
46 unchanged sentences
For the year ended December 31, 2025, there were British Pound Sterling principal deposits of 72,046,904 and British Pound Sterling principal redemptions of 62,440,650 , resulting in an ending British Pound Sterling principal balance of 57,637,522 .
−Removed: This equates to 60,154,130 USD.
+Added: This equates to 77,525,014 USD (which includes USD redemptions payable).
For the year ended December 31, 2024, there were British Pound Sterling principal deposits of 52,834,396 and British Pound Sterling principal redemptions of 72,046,904 , resulting in an ending British Pound Sterling principal balance of 48,031,268 .
−Removed: This equates to 85,722,013 USD.
+Added: This equates to 60,154,130
Net interest, if any, associated with creation and redemption activity is held in a British Pound Sterling-denominated non-interest-bearing account, and any balance is distributed in full as part of the monthly income distributions, if any.
23 unchanged sentences
The Trustee calculates the Trust’s NAV each business day.
−Removed: To calculate the NAV, the Trustee subtracts the Sponsor’s accrued fee through the previous day from the British Pounds Sterling held by the Trust (including all unpaid interest, if any, accrued through
−Removed: the preceding day) and calculates the value of the British Pounds Sterling in USD based upon the Closing Spot Rate.
+Added: To calculate the NAV, the Trustee subtracts the Sponsor’s accrued fee through the previous day from the British Pounds Sterling held by the Trust (including all unpaid interest, if any, accrued through the preceding day) and calculates the value of the British Pounds Sterling in USD based upon the Closing Spot Rate.
If, on a particular evaluation day, the Closing Spot Rate has not been determined and announced by 6:00 PM (London time), then the most recent Closing Spot Rate will be used to determine the NAV of the Trust unless the Trustee, in consultation with the Sponsor, determines that such price is inappropriate to use as the basis for the valuation.
10 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.