71 unchanged sentences
recent inspection by Bureau Veritas, a leading commodity inspection and testing company retained by the Sponsor, of the Custodian was
−Removed: conducted as of July 1, 2024.
+Added: conducted as of June 30, 2025.
Trust is not aware of any trends, demands, conditions or events that are reasonably likely to result in material changes to its liquidity
3 unchanged sentences
only source of liquidity is its transfers and sales of platinum.
−Removed: Trustee will, at the direction of the Sponsor or in its own discretion, sell the Trust’s platinum as necessary to pay the
−Removed: Trust’s expenses not otherwise assumed by the Sponsor.
−Removed: The Trustee will not sell platinum to pay the Sponsor’s Fee but
−Removed: will pay the Sponsor’s Fee through in-kind transfers of platinum to the Sponsor.
−Removed: At June 30, 2024 and 2023 the Trust did not
−Removed: have any cash balances.
+Added: Trustee will, at the direction of the Sponsor or in its own discretion, sell the Trust’s platinum as necessary to pay the Trust’s
+Added: expenses not otherwise assumed by the Sponsor.
+Added: The Trustee will not sell platinum to pay the Sponsor’s Fee but will pay the Sponsor’s
+Added: Fee through in-kind transfers of platinum to the Sponsor.
+Added: At June 30, 2025 the Trust did not have any cash balances.
of Financial Results
7 unchanged sentences
Trust’s NAV increased from $ 43,119,274 on June 30, 2024 to $ 85,206,010 on June 30, 2025, a 97.61% increase for the year.
−Removed: increase in the Trust’s NAV resulted primarily from an increase in outstanding Shares from 4,000,000 Shares on June 30, 2023 to
−Removed: 4,400,000 Shares on June 30, 2024, a result of 850,000 Shares (17 Baskets) being created and 450,000 Shares (9 Baskets) being redeemed
+Added: increase in the Trust’s NAV resulted primarily from an increase in outstanding Shares from 4,400,000 Shares on June 30, 2024
+Added: to 6,550,000 Shares on June 30, 2025, a result of 3,150,000 Shares (63 Baskets) being created and 1,000,000 Shares (20 Baskets)
+Added: being redeemed during that period (a 48.86% increase), as well as an increase in the platinum price from $1,012 per ounce on June
+Added: 30, 2024 to $1,350 per ounce on June 30, 2025, a 33.40% increase.
+Added: NAV per Share increased 32.76% from $ 9.80 on June 30, 2024 to $13.01 on June 30, 2025.
+Added: The Trust’s NAV per Share increased slightly
+Added: less than the price per ounce of platinum on a percentage basis due to the Sponsor’s Fee, which was $242,983 for the year, or 0.50
+Added: % of the Trust’s assets on an annualized basis.
+Added: year ended June 30, 2024
+Added: The Trust’s NAV increased from $ 34,919,057 on June 30, 2023 to $ 43,119,274 on June 30, 2024, a 23.48% decrease for the year.
+Added: The increase in the Trust’s NAV resulted primarily from an increase in outstanding Shares from 4,000,000 Shares on June 30, 2023
+Added: to 4,400,000 Shares on June 30, 2024, a result of 850,000 Shares (17 Baskets) being created and 450,000 Shares (9 Baskets) being redeemed
during that period
2 unchanged sentences
$ 897 on June 30, 2023 to $1,012 on June 30, 2024.
−Removed: The Trust’s NAV per Share increased slightly less than the price per ounce of
+Added: The Trust’s NAV per Share decreased slightly more than the price per ounce of
platinum on a percentage basis due to the Sponsor’s Fee, which was $187,695 for the year, or 0.50% of the Trust’s assets
10 unchanged sentences
Trust’s assets on an annualized basis.
−Removed: year ended June 30, 2022
−Removed: Trust’s NAV increased from $37,477,854 on June 30, 2021 to $44,801,455 on June 30, 2022, a 19.5% increase for the year.
−Removed: in the Trust’s NAV resulted primarily from an increase in outstanding Shares, which rose from 3,600,000 Shares on June 30, 2021,
−Removed: to 5,050,000 Shares on June 30, 2022, a result of 2,550,000 Shares (51 Baskets) being created and 1,100,000 Shares (22 Baskets) being
−Removed: redeemed during that period
−Removed: NAV per Share decreased 14.8% from $10.41 on June 30, 2021 to $8.87 on June 30, 2022.
−Removed: The price per ounce of platinum decreased
−Removed: 14.4% from $1,059.00 on June 30, 2022 to $907 on June 30, 2023.
−Removed: The Trust’s NAV per Share decreased slightly more than the
−Removed: price per ounce of platinum on a percentage basis due to the Sponsor’s Fee, which was $209,660 for the year, or 0.50% of the
−Removed: Trust’s assets on an annualized basis.
Sheet Arrangements
1 unchanged sentence
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.