Item 8. Financial Statements and Supplementary Data
Item 8. Financial Statements and Supplementary Data.
The following tables show the Trust’s quarterly financial information for 2025 and 2024.
Three Months Ended (Unaudited)
March 31,
2025
June 30,
2025
September 30,
2025
December 31,
2025
Expenses
Sponsor’s fees
$
363,705
$
592,576
$
806,167
$
1,260,000
Sponsor’s fees waived
(80,785
)
(131,738
)
(179,165
)
(279,981
)
Total expenses
282,920
460,838
627,002
980,019
Net investment loss
(282,920
)
(460,838
)
(627,002
)
(980,019
)
Net Realized and Unrealized Gain (Loss)
Net realized gain from:
Gold bullion sold to pay expenses
64,203
103,547
128,990
245,147
Gold bullion distributed for the redemption of Shares
45,378,477
10,840,075
—
118,544,875
Net realized gain
45,442,680
10,943,622
128,990
118,790,022
Net change in unrealized appreciation/depreciation on investment in gold bullion
245,081,509
97,381,817
576,735,029
506,404,956
Net realized and unrealized gain
290,524,189
108,325,439
576,864,019
625,194,978
Net increase in net assets resulting from operations
$
290,241,269
$
107,864,601
$
576,237,017
$
624,214,959
Net increase in net assets per Share
$
5.04
$
1.33
$
5.57
$
4.64
Three Months Ended (Unaudited)
March 31,
2024
June 30,
2024
September 30,
2024
December 31,
2024
Expenses
Sponsor’s fees
$
225,112
$
261,326
$
301,635
$
319,610
Sponsor’s fees waived
(50,054
)
(58,070
)
(67,034
)
(71,019
)
Total expenses
175,058
203,256
234,601
248,591
Net investment loss
(175,058
)
(203,256
)
(234,601
)
(248,591
)
Net Realized and Unrealized Gain (Loss)
Net realized gain from:
Gold bullion sold to pay expenses
16,037
35,311
44,801
66,227
Gold bullion distributed for the redemption of Shares
24,829,432
9,139,690
4,724,615
41,700,339
Net realized gain
24,845,469
9,175,001
4,769,416
41,766,566
Net change in unrealized appreciation/depreciation on investment in gold bullion
50,143,311
48,899,779
156,618,421
(50,800,380
)
Net realized and unrealized gain (loss)
74,988,780
58,074,780
161,387,837
(9,033,814
)
Net increase (decrease) in net assets resulting from operations
$
74,813,722
$
57,871,524
$
161,153,236
$
(9,282,405
)
Net increase (decrease) in net assets per Share
$
1.54
$
1.15
$
2.98
$
(0.17
)
See Index to Financial Statements on page F-1 for a list of the financial statements being filed herein.
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.
There have been no changes in accountants and no disagreements with accountants during the year ended December 31, 2025.
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Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.