VanEck Merk Gold ETF 10-K

Item 8. Financial Statements The audited financial statements required by Regulation S-X, with the report of the Trust’s independent registered public accounting firm, appear on pages F-1 to F-14 of this Report and are incorporated in this Item 8 by reference to such information. 41 VanEck Merk Gold Trust Quarterly Statements of Operations For the year ended January 31, 2021 (unaudited) Three Months ended April 30, 2020 Three Months ended July 31, 2020 Three Months ended October 31, 2020 Three Months ended January 31, 2021 Year ended January 31, 2021 EXPENSES Sponsor’s fees $ 215,094 $ 278,138 $ 252,814 $ 267,245 $ 1,013,291 Total expenses 215,094 278,138 252,814 267,245 1,013,291 Net Investment loss (215,094 ) (278,138 ) (252,814 ) (267,245 ) (1,013,291 ) Net Realized and Unrealized Gain (Loss) Net realized gain (loss) from gold bullion distributed for redemptions 30,456 4,601,821 993,857 1,699,228 7,325,362 Net change in unrealized appreciation (depreciation) on investment in gold bullion 16,484,533 40,156,702 (18,495,904 ) (6,140,185 ) 32,005,146 Net realized and unrealized gain (loss) from operations 16,514,989 44,758,523 (17,502,047 ) (4,440,957 ) 39,330,508 Net Increase (Decrease) in Net Assets resulting from operations $ 16,299,895 $ 44,480,385 $ (17,754,861 ) (4,708,202 ) $ 38,317,217 VanEck Merk Gold Trust Quarterly Statements of Operations For the year ended January 31, 2020 (unaudited) Three Months ended April 30, 2019 Three Months ended July 31, 2019 Three Months ended October 31, 2019 Three Months ended January 31, 2020 Year ended January 31, 2020 EXPENSES Sponsor’s fees $ 147,619 $ 153,056 $ 173,817 $ 185,674 $ 660,166 Total expenses 147,619 153,056 173,817 185,674 660,166 Net Investment loss (147,619 ) (153,056 ) (173,817 ) (185,674 ) (660,166 ) Net Realized and Unrealized Gain (Loss) Net realized gain (loss) from gold bullion distributed for redemptions 96,601 — — — 96,601 Net change in unrealized appreciation (depreciation) on investment in gold bullion (4,908,946 ) 16,350,488 9,375,531 9,486,919 30,303,992 Net realized and unrealized gain (loss) from operations (4,812,345 ) 16,350,488 9,375,531 9,486,919 30,400,593 Net Increase (Decrease) in Net Assets resulting from operations $ (4,959,964 ) $ 16,197,432 $ 9,201,714 $ 9,301,245 $ 29,740,427 42 VanEck Merk Gold Trust Quarterly Statements of Operations For the year ended January 31, 2019 (unaudited) Three Months ended April 30, 2018 Three Months ended July 31, 2018 Three Months ended October 31, 2018 Three Months ended January 31, 2019 Year ended January 31, 2019 EXPENSES Sponsor’s fees $ 140,371 $ 144,889 $ 136,358 $ 141,796 $ 563,414 Total expenses 140,371 144,889 136,358 141,796 563,414 Net Investment loss (140,371 ) (144,889 ) (136,358 ) (141,796 ) (563,414 ) Net Realized and Unrealized Gain (Loss) Net realized gain (loss) from gold bullion distributed for redemptions — — (148,638 ) — (148,638 ) Net change in unrealized appreciation (depreciation) on investment in gold bullion (3,440,848 ) (10,431,392 ) (574,763 ) 12,251,640 (2,195,363 ) Net realized and unrealized gain (loss) from operations (3,440,848 ) (10,431,392 ) (723,401 ) 12,251,640 (2,344,001 ) Net Increase (Decrease) in Net Assets resulting from operations $ (3,581,219 ) $ (10,576,281 ) $ (859,759 ) $ 12,109,844 $ (2,907,415 ) VanEck Merk Gold Trust Quarterly Statements of Operations For the year ended January 31, 2018 (unaudited) Three Months ended April 30, 2017 Three Months ended July 31, 2017 Three Months ended October 31, 2017 Three Months ended January 31, 2018 Year ended January 31, 2018 EXPENSES Sponsor’s fees $ 124,247 $ 128,616 $ 135,083 $ 137,624 $ 525,570 Total expenses 124,247 128,616 135,083 137,624 525,570 Net Investment loss (124,247 ) (128,616 ) (135,083 ) (137,624 ) (525,570 ) Net Realized and Unrealized Gain (Loss) Net realized gain (loss) from gold bullion distributed for redemptions 27,474 — 1,699 — 29,173 Net change in unrealized appreciation (depreciation) on investment in gold bullion 5,485,628 112,512 165,756 7,916,733 13,680,629 Net realized and unrealized gain (loss) from operations 5,513,102 112,512 167,455 7,916,733 13,709,802 Net Increase (Decrease) in Net Assets resulting from operations $ 5,388,855 $ (16,104 ) $ 32,372 $ 7,779,109 $ 13,184,232 43 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 January 31, 2021.